Brokers with lots of black marks on their records tend to be concentrated in certain areas, and these are often the same places where you find lots of moneyed retirees. Florida’s Palm Beach County has one of the highest rates of troubled brokers, according to The Wall Street Journal, which analyzed the records of about 550,000 stockbrokers and identified 16 U.S. “hot spots.” One tactic seen in these hot spots has raised regulators’ concerns: “plate-licker” seminars to woo customers. MANAGING THE MONEY: Pimco Total Return replaced by target-date funds. Some target-date funds that had Pimco Total Return Fund among their holdings are swapping it out for other fixed-income mutual funds. According to Morningstar, among those that have chosen to replace the fund are Schwab Target mutual funds, MassMutual RetireSMART funds and Voya Solution funds. Some other target-date series are choosing to keep Pimco Total Return in their holdings, including John Hancock Retirement Living, Principal LifeTime and–naturally enough–Pimco RealRetirement. Conflicting advice creates IRA mess. On advice from another broker, a client of Tennessee-based adviser Joe Franklin transferred $765,000 from his 401(k) to a traditional IRA. That created a huge tax liability, because of a Roth IRA conversion the client had carried out months earlier, Mr. Franklin tells Wealth Adviser at WSJ.com. It required some special measures, including creation of a new Solo 401(k), to resolve the problem.