Logo, Insight Wealth Management, Inc., Financial Services in Gainesville, Virginia

7250 Heritage Village Plaza, Suite 101
Gainesville, VA 20155-3058
vailable by Appointment Only


Avoid Becoming a Victim of the Next Bernie Madoff

Bernie Madoff ran a financial scam that allowed him to steal billions of dollars of his clients’ assets.  Not long after Madoff made headlines, MF Global declared bankruptcy because of losing billions of dollars on leveraged bad bets on European sovereign debt.  They announced also that they were looking for about a billion dollars of client funds that were apparently misplaced.

One of the best ways to avoid becoming a victim of the next Bernie Madoff or MF Global is to work with an advisor who uses an independent, third-party custodian for your assets.  That means also working with an advisor who is not a registered representative of the firm that has custody of your assets.  Madoff acted as advisor, custodian and broker for his clients.  Thereby, he was able to generate fictitious account statements for his clients, with no independent verification.  Most of his clients did not become aware of his scheme until it was too late, and their life savings were gone.

A CFA Charterholder Who Did Not Give Up

Then-CFA Institute President and CEO, Jeff Diermeier, CFA sent the following in a letter to CFA Institute members on December 19, 2008;

"Harry Markopolos, CFA, a longstanding member of the Boston Security Analysts Society, has been in the news this week for his role in reporting the allegations that Bernard Madoff was running a Ponzi scheme. Over the past eight years, Harry has steadfastly informed the U.S. SEC that Madoff's strategies could not possibly yield the high returns he reported. Despite many ups and downs in his investigation, he did not give up. We send our congratulations to Harry for his continued efforts to eliminate professional misconduct and protect the interests of investors."

One of the main reasons to select a CFA Charterholder to serve your investment management, financial planning and wealth management needs is the focus of the CFA Institute and its members on ethics and standards of professional conduct.  In all of the financial scandals of recent years including those involving brokers, mutual funds, fraudulent financial statements, and many other headline events, not a single CFA Charterholder has been implicated. 

Moreover, the graduate-level training in investment analysis and portfolio management required to pass the three exams to earn the CFA designation helps investment professionals gain the financial acumen necessary to understand the schemes that Madoff and others like him concoct. 

Don't you want as your financial professional someone who shares the tradition of high ethical and professional standards, and who has earned the same professional credential, that enabled Mr. Markopolos to spot and expose the Madoff scam?

Insight Wealth Management, Inc. and Your Security

Insight Wealth Management, Inc. (IWM) uses the services of Schwab Advisor Services as the third-party, independent custodian and broker of our clients’ assets.  IWM clients receive monthly account statements directly from Schwab, independently of IWM, and have 24-hour access to their accounts through Schwab Alliance, an online service Schwab provides for the clients of its network of select independent advisors.  Moreover, IWM Founder and President, Bob Pugh, earned the CFA Charter in 1997 and has been a leader in the global CFA community of investment professionals for many years, including serving two elected terms as President of the then1,700-member CFA Society of Washington, DC, and one elected term as Eastern Region Presidents Council Representative with the CFA Institute..