One of the best things you can do to help ensure your financial health in the future is to invest your money with a financial advisor. Unfortunately, while investing will usually result in strong financial growth, investment fraud can turn everything upside down and lead to significant financial losses.
If you put your money in the hands of a financial professional and lost money as a result, an experienced New York investment fraud lawyer serving clients in Hempstead Town, NY, can help. At Meyer Wilson, we will work relentlessly to ensure you recover the money you need. Call us or complete our online contact form today to set up your free initial case review.
Our Investment Fraud Lawyers Handle a Variety of Fraud Cases
Over the 25+ years we have been in business, we have handled all types of investment fraud cases. Some of the types of cases we most commonly handle include:
- Breach of fiduciary duty
- Unauthorized trading
- Failure to supervise
- Broker negligence
- Asset allocation misconduct
Breach of Fiduciary Duty
Under the law, investment advisors are held to a high standard of fiduciary responsibility. Because the clients of these advisors tend to entrust a substantial portion of their savings to these financial professionals, the potential for significant losses is severe if this money is mishandled.
These advisors must thoroughly review the details of any investment opportunities they are considering presenting to a client. They must perform due diligence, assess all the potential risks and rewards, present their clients with complete and accurate information, and ensure the investment meets the criteria for the client’s investment strategy.
Before a broker can make trades with a client’s money, they must first secure authorization from the investor. Their client can grant this authorization in one of two ways.
The first method for giving approval for trading to a financial advisor is to grant approval on a trade-by-trade basis, where the investor authorizes each trade the advisor presents. The second method is for the client to authorize a range of trades that meet certain parameters, as outlined in the contract they sign when first investing with the broker.
If your investment advisor conducts trades with your money without first obtaining your authorization, and you end up losing money, they will be liable for any resulting losses.
Failure to Supervise
When a financial advisor commits investment fraud, they are not the only party liable for any resulting losses suffered by their clients. The investment firm that employs these advisors is legally bound to provide proper supervision to its workers to ensure they are in compliance with all applicable regulations and laws.
If your advisor acts in an unethical, illegal, or irresponsible manner while dealing with your investment, an investment fraud attorney in Hempstead Town, NY, can help you take legal action to hold both the financial advisor and the firm that employs them responsible for your financial losses.
Financial brokers must act responsibly when handling investors’ money and work to ensure their clients’ money is invested in the best possible manner. If your investment advisor behaves negligently and fails to invest your money wisely, an experienced securities fraud attorney can help you recover damages by filing a lawsuit against your broker for negligence.
Asset Allocation Misconduct
When determining the best course of action for investing your money among different asset classes, your financial advisor needs to be mindful of your tolerance for risk. The asset types into which your money can be funneled include:
- Real estate
- Natural resources
- Foreign currency
In most cases, older investors require a more conservative investment strategy than would be appropriate for a younger investor. It is important that these investors see gains on a yearly basis, as they can’t afford to wait for the market to rebound after suffering losses. That’s why it is typically best to spread their money over a wide range of asset types to create stability.
Meanwhile, younger investors can often afford to face a down year or two as long as their investment will bounce back when an off-balance market realigns itself. Because of this, the best investment strategy for these investors is often to group their money into a small number of asset types with greater potential for growth.
If your investment financial advisor distributes your money among asset classes in a way that does not match your risk tolerance level, you can hold them responsible for any financial losses that result.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
The Award-Winning Team at Meyer Wilson Ranks Among the Best in the Nation
At our firm, we have managed to use our 75+ years of combined experience to secure upwards of $350 million for investment fraud victims over the years. Some of the reasons our firm excels compared to many of our competitors include:
- Our caseload size, which we maintain at a manageable level to ensure we are able to provide each of our clients with the personalized attention they need
- Our method of preparing all of our cases as though they are going to trial from day one, ensuring we are ready should a courtroom battle prove necessary while increasing our leverage in settlement negotiations
- Our use of state-of-the-art technology, that helps increase our chances of winning your case while providing our clients with the best possible experience
- The fact that we charge our clients on a contingency fee basis, giving them the security that they will only have to pay for legal services if they recover damages
How to Know if You Were the Victim of Investment Fraud
Identifying whether investment fraud caused your losses is not always easy. While you may suspect that this was the cause of your financial losses after investing money with a brokerage firm, other factors like natural fluctuations in the stock market, unpredictable global events, or other illegal activity could also be to blame.
The best first step in identifying investment fraud is to review this checklist of investment fraud red flags assembled by the Securities and Exchange Commission (SEC). If there is anything on this list that seems similar to what you have experienced, you should get in touch with an experienced securities fraud lawyer.
Our lawyers are nationwide leaders in investment fraud cases.
Begin Preparing Your Case With an Experienced Hempstead Town Investment Fraud Attorney Today
Losing money because of investment fraud can put you in a difficult financial position. Fortunately, an experienced investment fraud lawyer can help get you the money you need and deserve. At Meyer Wilson, our team of investment fraud lawyers serving Hempstead Town will be able to significantly improve your chances of success.
Contact us to schedule a free, no-obligation consultation today. You can get started by giving us a call or completing the contact form on our website.
Recovering Losses Caused by Investment Misconduct.