As of 2008, H&R Block Financial Advisors operates as a subsidiary of Ameriprise Financial Inc. The company was founded in 1971 and is based in Detroit, Michigan. H&R Block Financial Advisors is a full-service securities broker-dealer and provides financial services through financial advisors throughout the U.S. The company offers investment management and advice, financial planning, and related financial services, insurance and securities products.
Unfortunately, H&R Block advisors have deceived clients and acted unethically in the past. Shortly before the collapse of Enron, H&R Block advisors sold over $16 million in Enron bonds. They ensured investors that the investment was a good choice despite having knowledge that Enron was about to declare bankruptcy shortly. H&R Block has also enabled its brokers to participate in underhanded investment practices in its history.
Because H&R Block is licensed by the Financial Industry Regulatory Authority (FINRA), it is legally obligated to ensure that its brokers are acting ethically according to the interest of their clients, in compliance with securities industry rules. Negligent or unlawful action conducted by investment brokers that cause damages to investors is the legal and financial responsibility of H&R Block.
Investors have the right to trustworthy, ethical financial advisors. If you were wronged by an investment broker’s wrongdoing, Meyer Wilson lawyers have the experience to help you defend your rights and reclaim your losses. Through arbitration with FINRA and the American Arbitration Association (AAA), Meyer Wilson represents clients nationwide and internationally against large investment firms like H&R Block. We’ve helped nearly 800 clients recover hundreds of millions of dollars from investment misconduct, including $350 million.