Brokers and financial advisors owe certain duties to their clients, and the failure to adequately discharge those duties may cause the broker or advisor to be liable for losses and damages. Our lawyer is knowledgeable in these rules and regulations, and generally after an initial consultation, a client is better informed about whether their account has been mismanaged, and to what extent.
Mismanagement can take on many forms. It includes unsuitable recommendations (recommendations or strategies that do not match the customer’s investment objectives and risk tolerances), churning (doing something in the account to generate a commission for the broker), excessive trading (creating excessive transactions that don’t benefit the client), borrowing money, selling private investments away from the firm, and many other forms of mismanagement that are too numerous to detail here.
If you have any concern that your account has been mismanaged or neglected by your financial professional, please contact us for a free consultation.