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Advisor James Patrick O Connell allegedly made unsuitable recommendations

June 23 O’Connell told the office of the Secretary of the Commonwealth of Massachusetts that he decided to remain unregistered because “it was too expensive to stay registered for just seven clients,” according to the court documents. When a 69-year-old client decided to sell their house and buy a condo, O’Connell recommended taking out a 30-year variable interest rate mortgage on the new property and investing the house-sale proceeds with him. “If they do not accelerate payments, Client 1 will be a few months shy of 100 years old at the time the mortgage is paid,” Galvin’s office writes in court documents. “O’Connell’s recommendation… constitutes unethical and deceptive practices under Massachusetts law given the client’s age and investment profile.”

The Day - Delta variant poses major risk to Biden s promises of swift economic comeback

Business Support Local News. We ve been with you throughout the pandemic, the vaccinations and the reopening of schools, businesses and communities. There s never been more of a need for the kind of local, independent and unbiased journalism that The Day produces. Please support our work by subscribing today. Delta variant poses major risk to Biden s promises of swift economic comeback President Biden discusses the economic recovery at the White House on July 19. (Demetrius Freeman/The Washington Post) Published July 25. 2021 12:01AM  Jeff Stein and Heather Long, The Washington Post Get the weekly rundown Email Submit Washington  A resurgence in coronavirus cases is threatening the Biden administration s promises of a swift economic recovery, with Wall Street getting battered early this past week and some leading forecasters beginning to rethink their extremely rosy projections.

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