You can try to do your best, but here is no perfect.
Even too big to fail make mistakes. Please note, they are good not bad, but mistakes happens to everyone.
The Securities and Exchange Commission announced settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures with respect to the suitability of those recommendations. The SEC ordered Wells Fargo to pay a $35 million penalty, which will be distributed to harmed investors.
LF Woodford Equity Income Fund
On 3 June 2019, the LF Woodford Equity Income Fund (WEIF) suspended dealing. The
WEIF was a retail scheme authorised in accordance with EU rules for Undertakings
for the Collective Investment in Transferable Securities (UCITS). UCITS schemes
are a type of open-ended authorised fund designed that can be marketed to all retail
investors. The WEIF’s suspension demonstrated the issues which can arise when other types of authorised retail funds invest in less liquid assets.
In October 2019, Link Fund Solutions, the authorised corporate director of the WEIF,
decided it was in the best interest of investors to close the fund. The liquidation of
the fund commenced on 18 January 2020 and will see money returned to investors in
Leveraged financial investment instruments. One small movement in the underline asset, and your invested capital is gone.
Investing is risky, you should take more than 1 advise. It can save you a fortune.
BTW, we can assist with a good advice, just ping us back (email us).
BTW 2, the coronavirus may be seasonal, and the market may recover from the bear market. If you have available cash, there are plenty of bargains out their now.