When a financial advisor recommends investments that are inappropriate for your financial situation, you may be able to recover your losses by holding the brokerage firm responsible. This type of broker misconduct claim is known as “unsuitability.” Your advisor has the legal duty to recommend and sell investments that are in your best interest. .
In addition, to comply with their legal duty to recommend investments that are in your best interest, your advisor must periodically reevaluate your investment needs.. Using outdated or incorrect information as a basis for current recommendations may render the advisor liable for losses that occur as a result of failing to meet the best-interest standard.
Investor claims are almost always handled in mandatory securities arbitration before the Financial Industry Regulatory Authority (FINRA). If you choose to pursue a claim, it is crucial that an experienced attorney who is knowledgeable in this area of law represents you. Our investment fraud lawyers have extensive experience in arbitration, litigation, mediation and class action lawsuits and are consistently recognized as among the best in the country in their areas of practice. For a free case evaluation, contact us by filling out our online contact form.