Misconduct by stockbrokers and financial advisors comes in many forms. Over the past several years, the
most common misconduct by brokers is investing too much of their
clients' portfolios in high risk stocks (e.g., the technology sector),
particularly retired clients on fixed income. Some of the most
egregious cases we handled on behalf of investors involve a single
broker, who was not adequately supervised by his brokerage firm, who
preys on retirees from local companies. For example, our firm has
represented numerous retirees who worked and saved their whole life
only to have their retirement nest egg improperly invested, resulting
in a 40-95 percent decline in its value.
Another abuse that has surfaced in the past several years is when a
trusted financial advisor or broker convinces their clients into
investing in a product known as a variable annuity.
While a variable annuity can be an appropriate investment in certain
limited circumstances, more often than not it is an unsuitable
investments because of the costs associated with it and its lack of
liquidity (it can be as long as 10 years before the investor can access
the funds in the annuity without paying a penalty).
Our firm has represented hundreds of individual investors with these
types of claims and others against their brokerage firm or insurance
company. We may be able to help you recover a portion of your losses.
All of our cases are accepted on a contingency fee, meaning our firm
earns a fee only if we recover losses for the wronged investor.
Not sure if you have a claim against a brokerage firm? If you would
like one of our securities attorneys to review your potential claim at
no charge, contact us or complete the online securities case evaluator.