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My Advisor Recommended an Investment That Didn’t Fit My Financial Situation and I Lost Money. Can I Hold the Brokerage Firm Responsible?

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 Using outdated or incorrect information as a basis for current recommendations may render the advisor liable for losses that occur as a result of failing to meet the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.

Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
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900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
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The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
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