Recently, a LinkedIn post relayed a story about a financial advisor who was fined by his company’s compliance department for recommending a reverse mortgage.
Although he wasn’t named in the post, the story was about Zack Alkhamis, a financial advisor with Retirement Wealth Management Group, who has been helping clients manage their finances for 28 years in Kalamazoo, Mich.
Alkhamis directed a client to a local reverse specialist to learn more about how it might improve the client’s situation. That specialist included Alkhamis on a follow-up e-mail with the client, which contained a proposal for a reverse mortgage. In a routine audit months later, that e-mail was flagged.