When preparing for the future, entrusting your money to an investment firm is one of the best ways to ensure financial security. Unfortunately, taking this move to protect your financial future can leave you vulnerable to potential investment fraud, which can result in considerable losses and leave you in need of legal help to recover compensation.
If you lost money because of investment fraud, you may be eligible to pursue damages from your financial advisor or brokerage firm. At Meyer Wilson, our experienced team of Virginia investment fraud lawyers serving Virginia Beach, knows the challenges that investment fraud can present. Get in contact with us today to set up your free initial case review with a member of our team.
Our Firm Has Handled Every Type of Investment Fraud Case
In the past 25+ years, the lawyers at our firm have represented clients facing all types of investment misconduct imaginable. Some of the cases we most frequently see include:
- Asset allocation misconduct
- Unauthorized trading
- Breach of fiduciary duty
- Failure to supervise
- Broker negligence
Asset Allocation Misconduct
When your financial advisor is determining how best to allocate your investment into different asset types, they must take your age and risk tolerance level into account. The asset classes into which they can distribute your money include:
- Foreign currency
- Bonds
- Real estate
- Cash
- Natural resources
- Stocks
Most of the time, older investors have a lower risk tolerance than younger investors. When distributing the money of an older investor, a more conservative approach is preferable. To help ensure yearly gains, distributing their investment across a wide range of asset types is best as it creates more stability.
Younger investors, on the other hand, can afford to adopt a higher-risk investment strategy. For these investors, the best approach will likely be to invest their money in a few asset types with higher growth potential. While this may result in losses from time to time, the long-term trajectory of the market will likely lead to significant growth of their investment.
When an investment advisor fails to allocate money among asset classes in line with the risk tolerance level of their clients, they can be held liable for any resulting financial losses.
Unauthorized Trading
For an advisor to conduct trades with a client’s money, they must first obtain authorization. An investor can grant their broker authorization in two main ways.
One way in which a client can approve a trade is by granting direct authorization for a trade opportunity presented by their advisor at the time the investment opportunity is available on a case-by-case basis. Alternatively, an investor can approve certain trade types that meet specific criteria when signing their investment agreement with a brokerage firm.
Advisors who make trades with a client’s money without securing the proper authorization can be held to account for any losses caused by the trade.
Breach of Fiduciary Duty
Investment advisors are held to a high standard of fiduciary responsibility under the law. These financial professionals often handle the bulk of their clients’ savings, meaning that mismanagement of these funds can put these investors into financial ruin.
When presenting an investment opportunity to a client, an investment broker must carry out due diligence, familiarize themselves with the risks and rewards of the investment opportunity, ensure their client is fully informed about the terms of the investment, and make sure that the opportunity aligns with the client’s investment objectives.
Failure to Supervise
When you suffer losses caused by investment fraud committed by your financial advisor, the brokerage firm they work at can also be held liable for any losses you incur. Financial firms have a legal obligation requiring them to provide satisfactory supervision of their clients to ensure they comply with the laws and regulations of their profession.
If your advisor fails to act responsibly, ethically, and legally when handling the money you have invested, an investment fraud attorney in Virginia Beach, VA, can help you pursue legal action to recover compensation from both the advisor and the brokerage firm that employs them.
Broker Negligence
Investment brokers are legally obligated to ensure they behave responsibly when handling their clients’ money. These brokers must take all the necessary steps to ensure they are investing their clients’ money wisely and helping it to grow. If your broker acts in a negligent manner and you lose money as a result, a securities fraud lawyer can help you file a lawsuit.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
Identifying Whether Investment Fraud Caused Your Financial Losses
Following the loss of money you entrusted to a brokerage firm, it can be a challenge to determine the cause. While investment fraud may be to blame, other factors can play a role as well. Beyond investment fraud, your losses may be the result of other factors.
The Securities and Exchange Commission (SEC) has prepared a checklist of investment fraud red flags for investors to review if they think they have been victimized by investment fraud. If anything from this list seems similar to your current situation, reach out to an experienced securities fraud attorney for help.
Meyer Wilson’s Award-Winning Team Is Among the Top in the Country
Using our combined 75+ years of experience in investment fraud law, our team has managed to secure over $350 million in damages for our clients. Some of the things that help us stand out from other investment fraud firms include:
- The fact that we keep the size of our caseload small, allowing us to provide each of our clients with the attention they need
- Our guarantee that our clients will not have to pay for our legal services unless they recover damages
- Our method of preparing each case for court from the start, ensuring we are prepared if a trial proves necessary while giving us leverage in settlement negotiations.
- Our employment of state-of-the-art technology to help us through every step of the legal process
Our lawyers are nationwide leaders in investment fraud cases.
Get Help From an Experienced Virginia Beach Investment Fraud Attorney Today
After losing money due to investment fraud, you can find yourself facing challenging financial obstacles. The best way to protect yourself and ensure you recover the compensation you need is by securing the services of an experienced lawyer. At Meyer Wilson, our team of investment fraud attorneys serving clients in Virginia Beach will work diligently to get you the money you need.
Contact us to set up your free, no-obligation case review. You can reach us by phone or through our website to get started today.
Recovering Losses Caused by Investment Misconduct.