You trust financial advisors to offer beneficial advice that will help grow your investment portfolio. However, brokers sometimes overstep regulations and neglect your interests to serve their own benefit. Even large firms, like Fisher Investments, have faced numerous claims of negligence and fraud.
If you notice suspicious activities after investing with Fisher Investments, seek assistance from a securities fraud lawyer. Our team of skilled attorneys can identify any misconduct by the brokerage firm and help recover those losses. Meyer Wilson helped its clients recover more than $350 million. We know how to get results. Call us today for a free initial consultation.
About Fisher Investments
Fisher Investments is a money management firm founded in 1979. Privately owned and independent, the company manages investment portfolios for more than 25,000 private investors and over 100 institutions. Fisher has offices throughout the United States as well as in the United Kingdom and Germany, totaling 1,500 employees.
This brokerage firm offers services covering virtually every phase of the investment process and “builds investment portfolios to suit your needs.” Fisher Investments manages tens of billions of dollars in investments. Many people and institutions have entrusted their money to Fisher Investments.
Fisher has a fiduciary duty to uphold, meaning they must act in their clients’ best interests and uphold all securities regulations. If you lost a substantial amount of money investing with Fisher or one of its registered brokers, we invite you to contact us to learn if you might have a claim.
Complaints Against Fisher Investments
If you have experienced financial losses with Fisher Investments, it may be worth exploring whether you have a valid case. By pursuing a claim, you may recover some or all of your losses and hold the firm accountable for any misconduct or negligence.
Fisher has faced numerous accusations of negligence and fraud over the years. Consulting with an experienced securities fraud attorney can help you understand your options and determine the best course of action for your specific situation.
Financial Elder Abuse
On January 14, 2020, a 75-year-old woman filed a lawsuit against Fisher Investments, alleging mismanagement of her trust assets that resulted in her paying nearly $1 million in taxes.
The lawsuit, filed in the Los Angeles Superior Court, accuses Fisher Investments of financial elder abuse, intentional and negligent misrepresentation, constructive fraud, and prioritizing the company’s interests over those of the plaintiff.
Seeking damages for financial elder abuse, the plaintiff claims that Fisher Investments’ success is attributed, in part, to aggressive advertising tactics. The plaintiff, suffering from health problems, established the trust to secure her family’s future but alleges that Fisher’s aggressive sales tactics led to financial mismanagement.
Despite previous refusals, the woman signed up with Fisher Investments in 2018. In December of the same year, she and her husband discovered the significant tax implications of Fisher’s alleged mistakes with her trust assets. Despite seeking rectification, the couple received a letter denying their request after paying the substantial taxes in mid-May 2019.
The lawsuit against Fisher did not go to court. Instead, it was settled in arbitration. The plaintiff, who accused the firm of breach of fiduciary duty and financial elder abuse, among other acts of misconduct, died before the case concluded.
Breach of Fiduciary Duty
A securities fraud arbitration claim and a lawsuit were filed against Fisher Investments over client losses stemming from heavy investments in stocks despite conservative objectives. As any other financial institution and professional, Fisher is obligated to provide impartial advice prioritizing clients’ interests.
The lawsuit, filed in Houston, seeks to recover losses from a managed living trust. Also, an arbitration claim initiated by a retired doctor and his wife, who lost $1.2 million, makes similar allegations. Both cases assert breaches of fiduciary duty, accusing the defendant of failing to safeguard investor interests despite warning signs of an unavoidable market downturn.
Do You Have a Fisher Investments Loss Claim?
Identifying signs of potential misconduct or irregularities is crucial in protecting your financial interests. However, it can be difficult to know if something is wrong with your investments or if losses are simply the result of normal ebbs and flows of the market.
Common signs that your losses may have been caused by misconduct include:
- Your broker cannot accurately explain your losses
- Your broker cannot accurately explain to you the nature of the investment they are recommending
- Your broker refuses to show your returns
- Returns are consistently good (most misconduct happens when the investor believes things are going well)
- Your broker cannot find important documents or information about your investments
If you notice any of these red flags since you have been working with Fisher, seek immediate legal representation. An investment fraud attorney will provide valuable guidance in navigating financial disputes and pursuing remedies if necessary.
Meyer Wilson Recovers Losses Caused by Investment Misconduct
Fisher Investments is a well-known investment management firm, and if you believe that their actions or misconduct have led to significant financial losses for you, seek legal guidance. A securities fraud lawyer from our team will assess the merit of your case and explore potential avenues for recovery.
Whether through a lawsuit or arbitration, legal representation can help you navigate the complexities of financial disputes and recover your losses. Meyer Wilson is dedicated to protecting the rights of investors.
While fighting for justice against large brokerage firms can be intimidating, by working with our lawyers, you can rest at ease knowing that your claim is in capable hands. Contact us today to discuss your options.
