|
| Company |
Problem
|
Date |
Fund Police Opinion
|
Rating |
|
|
Putnam
|
Market timing at the company has amounted to $100 million.
|
2/3/2005
|
They can't seem to stop the bleeding!
|
Red Light
|
|
Putnam
|
Putnam's improper share trading cost investors over $100 million. Previous estimates by the company were 10 times smaller, and independent consultant found.
|
2/2/2005
|
Just because you take a little doesn't mean it's a little less ethical. In this case, "everyone" was affected, which makes the problem even worse.
|
Red Light
|
|
Putnam
|
Portfolio managers who were market timing funds were not properly supervised or disciplined.
|
2/1/2005
|
This company has failed to protect investors' interests.
|
Red Light
|
|
|
Putnam
|
Regulators imposed lower fees on Putnam, part of the settlement from the fund scandal suit.
|
12/29/2004
|
FP agrees with the punishment. Use a FEE-ONLY advisor and consider lower cost ETFs.
|
Red Light
|
|
Putnam
|
Putnam paid secret fees to Edward Jones' brokers to favor their funds when selling to clients.
|
12/23/2004
|
RED, RED, RED. Stay far away from both firms.
|
Red Light
|
|
Putnam
|
Mismanaged a $1 Billion 401(k) plan which led to large losses. The loss was a result of a late investment of the plan's cash.
|
10/1/2004
|
If you can't keep on top of one of your biggest clients, what should the little investor expect? FP says look for better funds than Putnam.
|
Red Light
|
|
Putnam
|
Putnam's response to their invovlement in the mutual fund scandal is to have more transparency about their fees.
|
9/27/2004
|
This is solid progress, but the totality of Putnam and parent Marsh & McLennan’s problems cause FP to keep them at Red.
|
Red Light
|
|
Putnam
|
Putnam is now competing for Califonia's pension fund. As a result, they are moving forward quickly on making changes to their policies regarding the transparency of fees. The new disclosures exceed standard fund industry practices in an attempt to show Putnam has changed their ways and improved their investor-relations.
|
9/24/2004
|
Amazing how when you are trying to win new business you make a decision to better serve your existing customers. This is solid progress, but the totality of Putnam and parent Marsh & McLennan’s problems cause FP to keep them at Red.
|
Red Light
|
|
Putnam
|
Charged with failure to properly discipline for rapid-trading and improper, insider trading.
|
8/1/2004
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
The SEC has requested documents that cover the details of how funds are chosen for 401(K) and other retirement plans to see if there are conflicts of interest. This investigation began as a result of the rampant abuses among mutual funds.
|
7/7/2004
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Did not properly discipline those who were market-timing Putnam's funds.
|
6/1/2004
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Massachusetts Securities Division is investigating charges that Putnam paid rebates to some favored retirement plans at the expense of other investors.
|
4/2/2004
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
The SEC criticized Putnam for lavishly compensating their CEO, and portfolio managers. Suspicion about the company's involvement in mutual fund scandal investigation underscored the inappropriate pay scale for the executives and managers.
|
3/24/2004
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Settled market-timing charges in November with the SEC.
|
2/1/2004
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Smart Money magazine analyzed nine fund families and their tainted funds. They found that even before the mutual fund scandal began, these funds were underperforming and unimpressive.
|
2/1/2004
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Improper mutual fund trading.
|
1/1/2004
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Critics charge that Putnam has changed from an investment firm to a marketing monster that wants to grow the company at the expense of the investors.
|
12/1/2003
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Settled with SEC to repay investors who were harmed by market-timing trades that occurred in funds.
|
11/30/2003
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Worked with Morgan Stanley in directed brokerage case. Also rewards its own brokers for selling products that direct commissions to its firm.
|
11/26/2003
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Critics charge that the SEC settled too quickly with Putnam and did not penalize them to the extent necessary.
|
11/17/2003
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Elliot Spitzer said that the SEC failed to make any sort of template out of Putnam as to how other companies will be charged for violations in the mutual fund scandal investigations.
|
11/16/2003
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
|
11/4/2003
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
First fund firm to be charged in the mutual fund scandal. Both the SEC and Massachusetts charged the firm with civil securities fraud. The allegations charge that the firm did not do enough to prevent market-timing in the firm's funds.
|
11/4/2003
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Putnam
|
Charged by the SEC with improperly trading within their funds.
|
11/1/2003
|
Prior to any regulatory investigation, Putnam was one of the most popular fund groups sold by advisors, but was delivering only average performance. Choose a smaller, well run mutual fund, where the managers and directors have money invested in the fund,
|
Red Light
|
|
Quick & Reilly
|
The company sold selected funds in exchange for brokerage commissions and other payments from the fund companies.
|
2/23/2005
|
Another example of how commissioned-based advice is commonly tainted.
|
Red Light
|
|
Quick & Reilly
|
The company failed to report information about their brokers to customers. The information included customer complaints, regulatory actions, criminal charges and convictions.
|
12/2/2004
|
Hiding information from your clients does not make the problem disappear. FP wonders what else are they hiding? FP warns you to steer clear of companies who have “baggage” and are unwilling to come clean.
|
Red Light
|
|
Raymond James
|
The company has been charged with fee-based brokerage violations.
|
4/28/2005
|
If you have to invest your money via a stock brokerage firm, these guys, along with LPL, are one of the better ones.
|
Yellow Light
|
|
Raymond James
|
The company failed to report information about their brokers to customers. The information included customer complaints, regulatory actions, criminal charges and convictions.
|
12/2/2004
|
FP believes this to be a minor infraction since the company's history has a clean bill of health.
|
Yellow Light
|
|
Raymond James
|
Announced in its annual report that the company could spend up to $10M in refunding breakpoint fees that it owes customers.
|
2/1/2004
|
If you have to invest your money via a stock brokerage firm, these guys, along with LPL, are one of the better ones.
|
Yellow Light
|
|
Raymond James
|
Filed a statement with the SEC saying that it owes investors $6.9 million in rebates.
|
1/14/2004
|
If you have to invest your money via a stock brokerage firm, these guys, along with LPL, are one of the better ones.
|
Yellow Light
|
|
