Chris McConnell AIFA® is an independent expert on the securities, banking and financial services industry compliance, custom and practice, superviision, suitabilility and fiduciary duty . He has over 35 years of experience and provides relevant education background and insights into the 1970's up to state of the art, present day 2019 . Chris McConnell & Associates pioneered flat fee, independent, conflict-free fiduciary consulting in 2003. Mr McConnell’s FiduciaryFORENSICS® assesses performance, liability and damages for both plaintiff and defense counsel as consultant, investigator and or expert witness not limited to cases in courts and arbitrations nationwide.
Cases involve a wide variety of industries and issues such as securities, banking, payments, bankruptcy, divorce, trust, corporate governance, insurance, non-profits, foundations, endowments, FINRA, ERISA, precious metals, hedge funds, private placements, derivatives, intellectual property, securities & financial services industry compensation, valuation and employment. Failure to supervise, suitability, breach of fiduciary duty, misrepresentation, fraud, taxes, best execution, proxy voting, Uniform Prudent Investor Act, ERISA, Uniform Management of Institutional Funds, Uniform Management of Public Pension Plans, Coogans' Act, UTMA, UGMA, 529 Accounts, 401K plans
Account types not limited to include trusts (all types), IRAs, IRA Rollovers, ERISA, Taft-Hartley, Profit Sharing, non-profits, foundations, endowments. And matters not limited to regulatory agency, legal malpractice, family law, and divorce matters.
Mr McConnell is also an expert on the causes of the 2008 global financial crisis, and support to certain financial institutions dating to 1979.
BA degree in Economics / Accounting option, Rutgers University;
MBA degreee, Graziadio School of Business, Pepperdine University;
AIFA® certificate, Center for Fiduciary Studies, Katz Graduate School of Business, University of Pittsburgh and
Extensive accounting and tax matters experience including successfully passing the Uniform Certified Public Accountant (CPA) examination in the State of New York.
• Over 35 years of unique expert-developed evidence - based creativity help bring your case to life
• Unveil the story told within your documents and data so that your case tells your story in “25 MB resolution and full color”
• Mr McConnell has a truly impressive command drawn from over 35 years of deep and extensive hands-on experience, training, education and knowledge of all levels and elements of the securities, futures, banking and payments, financial services industry (and since 2003 e-commerce, social media, and online ordering) including but not limited to the legal entity corporate governance, compliance, regulatory, accounting, tax, supervision, employee recruiting, training areas, industry custom and practice, standard of care and customer experience. His expertise spans reps and warrants implicit in ads, social media, press releases, solicitation, point of sale, merchants, user, financial advisor, support personnel, branch, complex, region, headquarters, legal entity, broker dealer, bank holding company entities, enterprise, cloud to blockchain touchpoints including the budgeting, accounting, compensation, incentives, disclosures, conflicts of interest, advertising, marketing, tax, regulatory reporting and requirements culminating in unique, succinct and incandescent case insights.
• Since 2004 and prior to the 2008 GFC Mr McConnell issued brief, annual FiduciaryALERTS™ warning trustees and fiduciaries with prudent steps to take to help protect trust assets (such as real estate and real estate – based investments) and trust beneficiaries from the dangers of leverage building up in the financial system. The 2004 FiduciaryALERT™ included a red flag when the largest Wall St broker dealers’ insurance coverage was alarmingly and suddenly cancelled.
He has assisted on cases pro-bono such as for a claimant, a retired file clerk had $26 left in her bank account (the subject of a Los Angeles Times article) to exceedingly complex individual and corporate tax, securities, pension plan, life insurance and annuities matters to multi-billion dollar class actions including liability, potential exposures, valuations and damages for:
1. ERISA plan violations by the largest commercial bankruptcy in Las Vegas history for PBGC (the Pension Benefit Guarantee Corp. the US govt. agency protects US workers’ pensions)
2. Bankruptcy estate around a hedge fund manager and the Beverly Hills celebrity poker ring
3. Divorce of an investment partner of horse racing’s 1977 Triple Crown winner Seattle Slew’s original breeding syndicate
4. Bernie Madoff Ponzi scheme, defense of a solo RIA (registered investment advisor)
5. Hollywood icon, intellectual property, Oscar – winning film copyrights, celebrity estate versus one of the largest trust companies in the world (probate matter)
6. Insured bank deposit sweep account class action & largest US broker dealers and banks’ multi-billion dollar customers’ funds diversion; caused the 2008 Global Financial Crisis and bailout
7. A nationwide gold coins & collectibles advertising and promotion scheme; illegal margin trading investigation
8. Successor trustee of a prominent family trust which operated a technology business (defense, of a founder of a prominent pension consulting firm)
9. The valuation of a Wall St financial advisor’s compensation & benefits plan under the 9/11 Victim’s Special Compensation Fund in a divorce (marital dissolution, family law)
10. A large family trust with operating farms, related brokerage account investments, trust heirs, beneficiaries and charitable trust dispute
11. The self-directed IRA involving an official of a national political party, foreign investment
12. Offshoring of US-based family trust bank accounts, over $100 Million claim in a constructive trust (Trust and Estate, Probate matter)
13. The criminal fraud impacting 5,000 investors in a VOIP patent investment scam, Ponzi scheme
14. Best execution matter for a Taft – Hartley, union pension plan
15. Publicly traded US homebuilder investigation, the issuer updated SEC form 8-K
16. Investigation into the NYSE’s (then a non-profit) compensation paid to a former chairman
17. Two professional athletes’ (NFL & NBA) versus a major bank and affiliated broker dealer
18. Oscar’s awards investigation and solutions (non-commissioned)
19. NCAA Men’s Soccer investigation and solutions (non-commissioned)
We prefer to deal directly with attorneys, CPA’s or business managers. Parties may contact us directly provided they agree they may be undermining legal, tax or other rights and protections or not. Our nationwide network of legal counsel for potential referrals includes former federal prosecutors, federal, state and SRO securities and insurance regulators and state, county and local agency officials and officials of local professional organizations.
When we are brought into a case, with over 35 years of experience including hundreds of cases when on Wall St, and hundreds more as an independent consulting expert since 2003, we provide new, unique, fact – based insights and clarity which nearly always help bring about settlement.
Office (310) 943 – 6509
Complimentary initial consultations, subject to availability
- Business Law
- Business Valuation
- Business/Employment Insurance
- Class Actions
- Corporate Governance
- Demonstrative Evidence/Exhibits
- Driver Behavior
- Family Law
- Forensic Accounting
- Insurance Customs & Practices
- Legal Malpractice
- Liability Insurance
- Mergers & Acquisitions
- Personal Property Valuation
- Private Investigators
- Public Contracts
- Risk Management
- Stocks & Bonds
- Trusts & Estates
- Wrongful Termination
- Q: Please list your professional accreditations, degrees, licenses, and certificates granted:
- A: ACCREDITED INVESTMENT FIDUCIARY ANALYST, Center for Fiduciary Studies
MBA, Pepperdine University
BA, Economics / Accounting, Rutgers University
CPA Exam - Passed, State of New York Board of Accountancy
- Q: Please list any teaching or speaking experience you have had, including subject matter:
- A: Mr. McConnell has delivered MCLE lectures qualifying for minimum continuing legal and professional education to attorneys, CPAs and schools since 2003.thru 2018
- 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 over 150 times as either a testifying and or consulting expert
- Q: For what area(s) of expertise have you been retained as an expert?
- A: Nearly every investment and service (please see https://fiduciaryexpert.com/about) provided by a Wall St and discount securities broker dealer and affiliated bank, Securities, Pension, IRA, ERISA Pension,Profit Sharing,Taft-Hartley Union Pensions, 401k plans, IRAs; Registered Investment Advisor, Non - profit, Foundation, Endowments; Investigations of Securities Outside Business Activities (approved, not approved or concealed), Continuing Education,
Family Law, Divorce, QDROs, Community property, Retired FAs, Account distributions, Forgivable Loans, Stockbroker, Executive, National, Regional and Branch Manager Compensation Plans, Incentives, Valuation and Conflicts of interest and self-dealing in the financial services industry securities, banking, mortgage, payments, life insurance, annuities, and long term care industries
Trust & Estate, Probate, Surrogate / Elder Abuse
FINRA Securities Arbitration - 401k IRA Rollovers, Trusts, Charities
Legal Malpractice, Bankruptcy, Federal Agency, Investment adviser
Employment, Compensation - Financial Services / Securities industry
- 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: When was the last time you had your deposition taken?
- A: 2015
- Q: On how many occasions have you been qualified by a court to give expert testimony?
- A: 15 or more
- Q: On how many occasions have you testified as an expert in court or before an arbitrator?
- A: 15 (an overwhelming majority of cases settle.)
- Q: For how many years have you worked with the legal industry as an expert?
- A: 16
- Q: What services do you offer? (E.g.: consulting, testing, reports, site inspections etc.)
- A: Customized, bespoke Securities & Entire Portfolio surveillance for professional athletes, creative artists and select HNW celebrity accounts including affiliated foundations and charities.
Expert Evaluations, Reports, Testimony, Rebuttal Expert, Case Consultation and preparation assistance
At any time, any type of account, investment, asset (including intellectual property such as copyrights, trademarks, trade secrets and patents), insurance or annuity may become subject to an investment fiduciary duty * IN ADDITION TO * applicable suitability and branch, regional and national compliance customer account supervision and standard custom and practice in the securities, banking, lending, payments and financial services industries.
**Now more than ever before in the securities, banking, insurance and annuity industry uncertainty and confusion, potential self-dealing and conflicts of interest around account-specific applicable standard of care pose elevated risks of harm to customers' account(s) especially but nor limited to all trust, ERISA pension, 401k plans, not-for-profit, charity, foundation, endowment, IRA, senior citizen, elder and disabled, UTMA and UGMA accounts.**
Fiduciary performance audits address the parties, duties, and gaps if any
Divorce Fiduciary Audit(tm), Duffy Analysis, QDRAb4QDRO(tm), FiduciaryFORENSICS(tm), Litigation, arbitration & mediation Consulting, Statement of claim, Suitability analysis, Post-Settlement Fiduciary Audits, Supervision, Financial Services, Securities industry employment disputes, Stock Broker, Investment adviser and branch manager compensation.
FINRA and general Discovery Support initial pleadings, review and analysis
- Q: What is your hourly rate to consult with an attorney?
- A: ** Brief initial consultations are available as time permits **
A calendar and conflict check is required.
Thereafter a working budget is provided to you before any billable work begins, upon your approval and payment services may be scheduled.
- Q: What is your hourly rate to review documents?
- A: ** Subject to a calendar and conflict check.
A working budget is provided to you before any billable work begins, upon your approval and payment; services may be scheduled.
- Q: What is your hourly rate to provide deposition testimony?
- A: Rates, fees and/or availability are provided upon completion of a calendar and conflict check.
- Q: What is your hourly rate to provide testimony at trial?
- A: Rates, fees and/or availability are provided upon completion of a calendar and conflict check.
- 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,designation moving papers and payment; services may be scheduled.
References provided upon request.