Two More Firms Ban Sales of Leveraged ETFs

dumbTwo more firms that feel their clients are unable to make educated decisions for themselves and need to be coddled.  On Wednesday of this week we wrote about Edward Jones dropping the sale of  leveraged ETFs, now you can add LPL Financial, and Ameriprise to the list of firms who will not allow you access to these investment tools.  Tom Lydon, writing for ETF Trends states, “LPL Financial said yesterday that they were banning the sale of ETFs that use more than 200% leverage, while Ameriprise said they were banning sales of all leveraged ETFs. Luisa Beltran for Ignites says that the regulatory scrutiny of the products is making the brokers nervous.”

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