Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Unsuitability Claims

Consult with Our Legal Team
There is never a cost associated with a consultation
"Great results!"
- S.W.
For The Advocacy You Deserve Contact Us Today!
We’ll respond and let you know the best way to proceed with your case.

Michigan Unsuitability Claims Against Financial Advisors

If you hire a financial advisor to supervise your accounts and investments, you have the right to expect the advisor to make decisions according to your best interests. Unfortunately, some financial advisors fail to fulfill this expectation, resulting in issues such as misconduct, negligence, fraud or breaches of fiduciary duty. These mistakes can lead to recommending unsuitable investments.

Contact the law firm of Meyer Wilson if you suffered an economic injury due to an unsuitable investment recommendation by your financial advisor in Michigan. The financial advisor may owe you financial compensation for your losses.

What Sets Us Apart?

  • We have more than 20 years of experience handling investment fraud claims.
  • We have successfully recoved mo\re than $350 million in total for our clients.
  • We believe in open communication and aim to answer all correspondence within 24 hours.
  • We have connections to securities regulators and expert witnesses.
  • We accept Michigan claims on a contingency fee basis.

Ways in Which a Lawyer From Meyer Wilson Can Help

An unsuitability claim against a financial advisor often does not take the form of a lawsuit against the individual advisor responsible for your economic loss. Instead, a larger corporation may be vicariously liable for the advisor’s misconduct or directly liable for failing to supervise their agent. Going up against a powerful corporation can be difficult without assistance from an attorney. The corporation may have an aggressive legal team to dispute liability. A lawyer can help you battle common tactics from legal teams and defend your side of the case. The attorneys at Meyer Wilson can also take a corporation to court if that is necessary for fair compensation.

What Does Unsuitability Mean?

The SEC's Regulation Best Interest (Reg BI) under the Securities Exchange Act of 1934 establishes a "best interest" standard of conduct for broker-dealers and associated persons when they make a recommendation to a retail customer of any securities transaction or investment strategy.  These obligations are critical to ensuring investor protection and promoting fair dealings with customers and ethical sales practices.  

Reb BI requires that a broker-dealer exercise reasonable diligence, care, and skill when making a recommendation to a customer.  The broker-dealer must understand potential risks, rewards, and costs associated with the recommendation.  The broker-dealer must then consider these factors in light of the customer’s investment profile and make a recommendation in the customer’s best interest . The standard of conduct draws from key fiduciary principles and cannot be satisfied through disclosure alone.

Contact an Attorney Today

The lawyers at Meyer Wilson can help you with an unsuitability claim against a financial advisor in Michigan. Each case begins with a free consultation and initial case review. During your meeting with an attorney, you will have an opportunity to ask questions and receive tailored, unbiased answers. Speak to an experienced attorney today. 

 

Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

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
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
crosschevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram