25 years experience; Accredited Investment Fiduciary Auditor; any investment, account or asset may require Fiduciary Standard of Care. NASD Rule 2310, NYSE Rule 405; Trusts; ERISA Pension, Profit Sharing, 401k, 403b plans; Non Profits, Foundations, Endowments; Hedge Funds; Securities Brokerage accounts & IRAs; Custodial, Minors, UTMA, UGMA, Coogan, Guardian, Conservator.
Prudent Expert witness, Damages analysis, nature of fiduciary duty, responibility; qualified sophisticated or unsosphisticated investors, failures, omissions, negligence, supervision, concentrated positions, hedging, misconduct, fraud fiduciary liability, prudent fiduciary portfolio planning process, expert damages analysis, cash flows, suitable types of investment securities and asset allocation models.
ANALYSIS
Morningstar, Lipper, Annual reports, 10ks, Registration statements, Prospectus, SEC Form ADV Part II and substitute brochure, offering subscription risk disclosure documents, custody, prime brokerage, margin borrowing agreements, tier 3 difficult to value fas 157 complex securities valuation methodologies.
In FINRA (NASD) matters; suitability, negligence, excessive fees, churning, failure to supervise are often listed as additional causes of action; we can expertly assist on same including damages analysis.
Qualified ERISA Fiduciary Expert - offers two independent, innovative, proprietary solutions:
1 - FiduciaryBOOTCAMP(tm) training for all ERISA & 401k plans, sponsors, investment committees & trustees to comply with the 2006 Pension Protection Act
2 - FiduciaryYEARBOOK(tm) documentation of compliance.
1983 to 2002, over 19 years securities industry experience, 17 in management at Smith Barney & Morgan Stanley at the national, regional and branch office levels.
* Strategic, Executive and Financial management enables unique insights into compensation, profit, career advancement and economic benefits implict at every stage of the broker dealer to the adviser's portfolio management actions.
* Compliance, Supervision, Suitability, Rules NASD 2310, NYSE 405.
* Development team for one of the first principal protection securities, 1989.
* Wrote, supervised Compensation plans for Stock brokers and branch and regional managers
* Wrote, supervised Branch P&L Accounting manuals (covering all securities, stocks, bonds, futures, options, mutual funds, annuities, long term care, life insurance and investment consulting service and all types of accounts - IRA, Sweep, Retirement plan);
* Designed, supervised special Margin account program
* Supervised employment, compensation Recruitment deals for experienced financial advisers and new trainees.
2003 - FiduciaryFORENSICS(tm), a proprietary technique, discovers the strengths & weaknesses of fiduciary performance; for Individual and Class Action matters representing plaintiffs or respondents in:
* Family Law, Divorce, QDRO's
* Trust & Estate, Probate
* Securities litigation - FINRA (NASD), NYSE or SEC Investigations & Arbitrations
* Non-profits, Foundations & Endowments
* ERISA Pension, 401k & Profit Sharing Plans,
* Employment benefits, Compensation & Valuation Expert
* State and Federal Agency, Regulatory Investigations
* Securities Industry Studies and Analysis of:
- Broker, branch office manager and regional manager compensation plans;
- Branch Office Profit & Loss Statements, Regional P&Ls, Firm wide P&L, Investment Product P&L
- Expert Damages Analysis of fees, costs and expenses of Investment products: Hedge funds, life insurance, annuities, Wrap accounts, Asset based fee accounts, Mutual funds, Variable Annuities, managed futures funds, closed end funds, mutual fund breakpoints, exchange funds, trust accounts, IRA accounts, Profit Sharing, Keogh accounts,SEP accounts, Defined Benefit Pension Accounts, Joint accounts. NOTE: Terms or names of investments, accounts, services and titles of persons used in the securities and financial services industry can be a first point of confusion that we can usually clarify in short order.
**INITIAL CONSULTATIONS ARE COMPLIMENTARY**
Background
Q: Please list your professional accreditations, degrees, licenses, and certificates granted:A:
ACCREDITED INVESTMENT FIDUCIARY ANALYST, Center for Fiduciary Studies, University of Pittsburgh (2003)
MBA, Pepperdine University (1990)
BA, Economics / Accounting, Rutgers University (1983)
CPA Exam - Passed, State of New York Board of Accountancy (1986)
Q: Please list your affiliations or memberships in any professional and/or industry organizations:
A:
Q: Please list any teaching or speaking experience you have had, including subject matter:
A: Mr. McConnell has delivered lectures qualifying for continuing professional and legal education to attorneys and or CPAs since 2003.
Q: Have any of your accreditations ever been investigated, suspended or removed? (if yes, explain)
A: No
Q: On how many occasions have you been retained as an expert?
A: Mr. McConnell has been retained nearly 100 times as either a testifying and or consulting expert.
Q: For what area(s) of expertise have you been retained as an expert?
A:
ERISA Pension,Profit Sharing,401k plans
Family Law
Trust & Estate, Probate
NASD / FINRA Securities Arbitration
Employment, Compensation
Q: In what percentage of your cases were you retained by the plaintiff?
A: 70%
Q: In what percentage of your cases were you retained by the defendant?
A: 30%
Q: On how many occasions have you had your deposition taken?
A: Two
Q: When was the last time you had your deposition taken?
A: 2006
Q: On how many occasions have you been qualified by a court to give expert testimony?
A: 4
Q: On how many occasions have you testified as an expert in court or before an arbitrator?
A: 10
Q: For how many years have you worked with the legal industry as an expert?
A: since 2004
Q: What services do you offer? (E.g.: consulting, testing, reports, site inspections etc.)
A: At any time, any account, investment or asset may become subject to fiduciary standard of care, this is increasingly acute in the elderly or disabled person.
Many cases may greatly benefit from a fiduciary audit, performed by a qualified independent professional like Mr. McConnell, AIFA.
Fiduciary performance audits - Trusts of any type, ERISA defined benefit pension, profit sharing, 401k plans, QDROs, trust company, life insurance, bank and securities brokerage investment accounts, non-profits, foundations and endowment and IRA and minor's custodial accounts like UTMAs or UGMAs.
QDRAb4QDRO(tm), FiduciaryFORENSICS(tm), Litigation, arbitration & mediation Consulting, Nationwide Support, Statement of claim, Suitability analysis, Post Settlement Fiduciary Audits, Supervision, Securities industry employment disputes, Stock Broker, investment adviser and branch manager compensation, Discovery support.
Q: What is your hourly rate to consult with an attorney?
A:
** INITIAL CONSULTATIONS ARE COMPLIMENTARY **
Thereafter a working budget is provided to you before any billable work begins, upon your approval and payment services commence.
The typical hourly rate is $450; depending on the nature and status of the matter fixed fees may be arranged.
Q: What is your hourly rate to review documents?
A:
** Initial Consultations are Complimentary **
Thereafter a working budget is provided to you before any billable work begins, upon your approval and payment services commence.
The typical hourly rate is $450; depending on the nature and status of the matter a flat fee may be arranged.
Q: What is your hourly rate to provide deposition testimony?
A: The typical hourly rate is $450; with a daily minimum, depending on the nature and status of the matter flat fees may be arranged.
Q: What is your hourly rate to provide testimony at trial?
A: The typical hourly rate is $450; with a daily minimum. Depending on the nature and status of the matter a flat fee may be arranged.
Q: Please list any fees other than those stated above (E.g.: travel expenses, copy fees, etc.)
A: An estimated working budget is provided to you before any billable work begins, upon your review, approval, return of signed engagement agreement and payment; services commence.
