When you invest your money with a brokerage firm, you are putting your faith in them to handle your money responsibly and help grow your savings for the future. Unfortunately, investment fraud occurs far too frequently and can lead to significant financial losses. If you lost money due to fraud, an experienced investment fraud attorney can help.
At Meyer Wilson, we have a long history of helping our clients recover their lost investments. We will work diligently to hold the financial broker and brokerage firm responsible for your losses accountable. Reach out to us today to schedule a free consultation with one of our investment fraud attorneys in Washington.
Investment Fraud Can Take Many Forms
At our firm, we have helped clients recover compensation in a variety of different fraud cases over the last 25+ years. Some of the investment misconduct cases we most frequently handle include:
- Asset allocation misconduct
- Unauthorized trading
- Breach of fiduciary duty
- Broker negligence
- Failure to supervise
Asset Allocation Misconduct
When determining how to distribute the money you have invested with a brokerage firm, your financial advisor must take your risk tolerance into account. Your age is one of the primary factors that come into play when determining whether your money should be split between a few or many different asset types, including:
- Real estate
- Foreign currency
- Natural resources
In some cases, younger investors may have a higher risk tolerance. When handling the money of these investors, distributing it among a limited number of asset types can lead to a positive long-term return, even if it sometimes means short-term losses. Over the long run, the asset types will hopefully rebound as the market rebalances.
When handling the money of seniors investors, taking a more conservative approach is typically going to be in their best interest as they don’t have as much time to recoup any losses. For these clients, the distribution of funds across a wide range of asset classes is generally going to be the best move.
If your financial broker invests your money among asset types in a manner inconsistent with your risk tolerance, you may have grounds for taking legal action.
Financial brokers are required to have authorization from their clients before making a trade with their money. This authorization can come in the form of a trade-by-trade basis or through a contract that permits them to make certain types of trade without express approval.
However, if your broker makes trades with your money that fall outside what the contract allows, they could be liable for any losses resulting from the trade.
Breach of Fiduciary Duty
People who put their money in the hands of a financial broker are commonly investing a large percentage of their life savings. Their expectation is that the brokerage firm will make sound investments that help grow their wealth.
Because of the significant trust these investors put in their brokers and the substantial losses they can face if things go wrong, the law often times places a significant fiduciary responsibility on brokers and brokerage firms. These financial professionals are legally bound to thoroughly investigate any investment opportunities before recommending them to clients.
Your broker must perform due diligence, assess the risks of an investment, create a strategy that considers your needs, and present you with full and accurate information about an investment opportunity, or they will be opening themselves up to potential legal action.
Investment brokers are obligated to use caution when investing the money of their clients. If your broker was negligent and failed to ensure that they were investing your money in a responsible manner, an experienced securities fraud attorney can help you pursue a lawsuit against them.
Failure to Supervise
The specific broker handling your money is not the only one legally bound to ensure that your money is being soundly invested. The brokerage firm they work for also has a duty to the clients they represent. These firms are required to ensure that their employees are conducting themselves in a legal, ethical, and responsible manner.
If a brokerage firm fails to ensure that their employees are properly handling the money of their clients, they can also be held accountable for any losses incurred due to mismanagement of funds. An experienced investment fraud attorney in Tacoma, WA, can help you file lawsuits against all parties responsible for your losses.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
Reasons to Choose Our Investment Fraud Legal Firm Over the Competition
Meyer Wilson is among the top investment law firms in the nation. Our award-winning team brings more than 75 years of combined experience to the table and has successfully recovered over $350 million on behalf of our clients. Some of the things that set us apart from the competition include:
- The fact that we prepare every case as though it is going to trial from the start, positioning us well if a trial proves necessary and giving us leverage in settlement negotiations.
- Our selective process for taking on new cases to ensure that our caseload stays manageable so that each of our clients can get the attention they deserve.
- Our contingency fee structure which protects our clients from further financial difficulty by ensuring that they only pay for our services if they recover damages.
- Our use of state-of-the-art technology which improves the experience for our clients and increases our chances of success.
Identifying Investment Fraud
When you suffer significant financial losses after investing your money in a financial firm, you might wonder if you have a case for investment fraud. While fraud may be the cause of your losses, a variety of other factors, including other illegal activity, unpredictable events, and natural fluctuations in the market, can also be to blame.
If you suspect fraud, you should consult this checklist of investment fraud red flags provided by the Securities and Exchange Commission (SEC). If you notice anything that seems similar to your situation, you should reach out to an experienced securities fraud lawyer.
Our lawyers are nationwide leaders in investment fraud cases.
Get Help from an Experienced Investment Fraud Attorney Serving Tacoma Today
After sustaining financial losses caused by investment fraud, hiring an experienced attorney familiar with cases similar to your own can be essential. At Meyer Wilson, we have helped countless investment fraud victims recover the compensation they need and deserve.
Contact us today by filling out our online contact form or giving us a call and schedule your free no-obligation case consultation with a member of our team.
Recovering Losses Caused by Investment Misconduct.