Hard to Stop
Don and Tom examine the long disciplinary history of former broker James Tuberosa and his attempt to reinvent himself as a registered investment advisor through a newly formed firm, highlighting how fiduciary language can be used to mask conflicts driven by insurance commissions. They walk listeners through the importance of reading Form ADV disclosures and explain how regulatory gaps allow questionable practices to continue. The episode reinforces the principle of “buyer beware” before shifting to listener questions on saving for major expenses, evaluating high-fee annuities for elderly retirees, Roth IRA investing for young adults, and the advantages modern investors enjoy from lower costs and better diversification. The show closes with reflections on financial literacy, generational investing improvements, and a preview of RetireMeet 2026.
0:05 Opening and setup: broker misconduct story
0:10 James Tuberosa’s career and long record of complaints
1:14 FINRA expulsion and failed expungement lawsuit
2:42 How complaints get quietly “settled”
3:51 Shift from broker to RIA status
4:49 Skyview Pinnacle and the “clean” front
5:48 Using fiduciary language as marketing cover
7:17 Why insurance escapes SEC oversight
8:22 Conflicts disclosed in ADV
9:19 Why disclosures matter
10:47 Warning signs: promises and product pitching
12:01 Weakness of fiduciary protection
13:08 Ethical failures at large firms
14:38 Fiduciary vs. commission contradiction
15:36 Why reading ADVs protects investors
16:17 Transition to listener questions
17:16 Sinking funds: investing vs. saving
18:40 Planning for major home repairs
19:36 Elderly couple and complex annuity
21:01 Risks of high-fee variable annuities
22:36 Best Roth IRA investment for young adults
23:24 Advantages for today’s investors
24:58 Lower costs and better diversification today
26:38 Historical perspective on investing access
28:10 Listener engagement and contact info