Stockbrokers and investment advisors owe a duty to manage and invest their clients’ funds in a suitable and appropriate manner for the client.  As more individuals turn to stockbrokers and investment advisors to save for education or retirement, the instances of broker misconduct has increased.  Brokers and advisors may put their own financial interest ahead of their clients’ interests.  

The most common cases of misconduct involve recommendations of unsuitable investments, typically products of a broker’s institution which the broker has incentive to push on his or her client.  Investing in unsuitable stocks or programs may put the client in an excessively risky position where the client, who is often elderly and of limited means, may lose most or all of his or her savings. Similarly, a broker or advisor may over-concentrate a client’s funds into one particular area instead of properly diversifying assets.  This can either limit the growth of the client’s money or can lose it all.  The worst cases of misconduct involve churning, where a broker continues to buy and sell for the client, generating fees for the broker and often exhausting the client’s savings. 

If you would like us to investigate your claim, contact our office for assistance.