Since 1968, Princor Financial Services Corporation has been the registered broker-dealer company of the Principal Financial Group. Headquartered in Des Moines, IA, Princor Financial Services is licensed to conduct business in all 50 states. The company offers products such as retirement plans, mutual funds, securities trading, variable annuities, managed accounts, and fee-based brokerage accounts and services.
A securities brokerage firm licensed by FINRA, Princor Financial Services Corporation has a legal duty to supervise its brokers and its brokers’ recommendations to clients to ensure compliance with and prevent violations of the rules of the security industry. When an individual broker is negligent or acts in an unlawful manner against the interests of the client and that client suffers damages as a result of such wrongdoing, the firm may be held liable for the investor’s losses.
Princor Financial Services Investment & Broker Misconduct
Did you invest your money with Princor Financial Services Corp.? If you lost a significant amount of money doing this, then you may have an investor claim against Princor or one of its registered brokers. Listed below are some of the most common types of investment fraud and misconduct claims:
Your stockbroker has a duty to uphold. As a broker entrusted with your money, he or she is required to provide adequate supervision over your assets. Failed supervision could be the result of untrained brokers, inadequate supervision of individual brokers or false information. When brokers fail to supervise properly, you could lose your money.
Without all the necessary, correct information, you won’t have what you need to make a suitable investment, which could lead to thousands of dollars in losses. Your broker is required to represent all proposed and current investments accurately, without concealing or skewing the information.
Your broker’s job is to have an accurate grasp on your investment portfolio. This includes your goals as an investor and what you expect to make on return. Sometimes, brokers recommend investments that are not suitable for their client’s current financial status. When this happens, investors often lose thousands of dollars.
Other Breach of Fiduciary Duty Claims
Breach of fiduciary duty explains certain activity on behalf of your broker that is sufficient to breach the agreement you had with them. This encompasses all types of fraud and misconduct, such as the ones detailed above and others such as overconcentration, churning and some private placements.
Contact Meyer Wilson for Princor Financial Services Investment Loss Claims
Meyer Wilson has what you need if you’ve suffered significant financial losses due to Princor Financial Services misconduct or the misconduct of one of its registered brokers. Our expertise is in the representation of clients with investor claims against securities brokerage firms such as Princor Financial Services Corporation.
Our firm handles investor claims in federal and state courts, and in arbitration through The Financial Industry Regulatory Authority (FINRA), the American Arbitration Association (AAA) and private arbitration. We also represent international clients with claims against brokerage firms in the United States through FINRA.
