Have you heard about Raymond James getting into trouble recently? The company just got fined about $3 million for failing to supervise some out-of-control employees. These employees were putting senior citizens into inappropriate investments. And it’s not just Raymond James. This complaint has come up time and again with full-commissioned brokerage houses who are putting people into high-risk annuities and investments. One branch manager in Wisconsin convinced an 84-year-old grandmother to put 80 percent of all her personal wealth into a crummy investment with huge commissions. She lost 60 percent of her money overnight. You need to remember that there are two different business models with brokerage firms – commissioned and non-commissioned. With commissioned brokers, you pay someone in that firm a fee to put your money in investments. With a commission-free broker, you do it yourself. Now, some people don’t feel comfortable making those decisions, so the other alternative is to hire a fee-only certified financial planner to pick investments for you. That person has no connection to the brokerage house and just gets a fee for his or her advice. There is no commission and, therefore, no incentive to put you in risky funds. The industry calls it putting people in inappropriate funds, but Clark says it’s stealing. So, keep an eye on your parents’ funds. Stick your nose in their business, even if they don’t want it. They are being targeted and need help.