“Financial advisor fraud” is a general term that covers a range of unscrupulous behaviors and misconduct on the part of a financial advisor or brokerage firm. This may include behaviors like high-pressure sales tactics or making trades you did not authorize.
The most common types of financial advisor fraud are:
- Churning. “Churning” is the term for making an excessive number of trades on an account in order to benefit the advisor – not the investor.
- Unsuitable investments. An unscrupulous advisor may try to talk you into investments that don’t suit your needs or your long-term financial goals. Oftentimes, this is because an advisor stands to gain commissions on these investments.
- Misrepresentation or Omission. If an advisor fails to give you all the information about an investment opportunity or does not disclose certain risks, then you may have a fraud case if you suffer investment losses.
If you believe you have suffered losses because your financial advisor acted against your best interests, take action now. Speak with an experienced investment fraud lawyer today to schedule a completely FREE legal consultation.