Broker mistakes or misconduct can cause serious financial harm, especially for people who are retired or nearing retirement and don’t have time to rebuild their savings. If you have lost $100,000 or more because of a financial advisor’s actions, our securities lawyers serving South Dakota are here to help.
We will explain your legal rights and walk you through the steps you can take to recover your losses. Since 1999, Meyer Wilson has helped clients across the country hold brokers and investment firms responsible for their negligence.
Our nationwide securities lawyers have deep experience with FINRA arbitration and have recovered more than $350 million for clients nationwide. Call today to schedule a free case evaluation.
What Sets Our South Dakota Securities Attorneys Apart
At our firm, we’ve built a skilled team of securities lawyers and support staff, but we choose to limit the number of cases we take on at once. This allows us to give each client the focused, personal attention they need.
Because we keep our caseload small, our client-to-lawyer ratio stays low. This means we have the time to dig into the details of your case, gather the right evidence, and build a strong, thoughtful strategy on your behalf.
We don’t cut corners or overload our team. Our focus is on delivering quality work and giving every case the care it deserves.
Recognizing the Warning Signs in Your Securities Portfolio
It’s not always obvious when a financial advisor or broker is making mistakes or acting inappropriately. They often appear professional, polite, and trustworthy, which can make it hard to see warning signs.
In many cases, problems happen quietly behind the scenes, and you may not notice anything is wrong until you’ve already suffered financial losses.
If you notice any of the following, consult a South Dakota securities attorney right away:
- Guaranteed returns that sound too good to be true: Every investment involves some level of risk. If a financial advisor claims you’ll get high returns without any chance of loss, that’s a serious warning sign.
- Pressure to make quick decisions: If your advisor is pushing you to act fast or make decisions you’re not comfortable with, they may not be looking out for your best interests.
- A high number of trades in your account: If your account shows frequent buying and selling that doesn’t seem necessary, it could be “churning,” a tactic some advisors use to generate more commissions at your expense.
- Losses that don‘t add up: If your securities are dropping in value and your advisor can’t clearly explain why, it may point to poor management or misconduct.
- Investments that don‘t fit your financial goals: Your advisor should recommend actions based on your age, needs, and comfort with risk. If you’re nearing retirement and being steered toward risky options, those choices may be inappropriate.
- Confusing or missing account information: If your advisor avoids sharing statements, or if the documents you receive are hard to understand, it might be a sign that they’re hiding poor performance or wrongdoing. Always make sure your account information is clear and easy to access.
If you see any of these warning signs, act quickly. Waiting too long can make it more difficult to recover your money or collect the documents and information needed to prove your case. Over time, key records can be lost, and it may become harder to track down what really happened.
Common Types of Securities Claims
As experienced securities attorneys serving clients in South Dakota, we‘ve handled a wide variety of cases involving dishonest brokers, fraud, and careless financial management.Â
We’ve seen how these issues can affect people in different ways, depending on their personal goals, risk tolerance, and stage of life. Unfortunately, if a broker or financial advisor did not cause your losses, it’s highly unlikely that Meyer Wilson will be able to help you.
Some clients come to us after losing their retirement savings due to risky financial actions they didn’t fully understand. Others may have been misled by a trusted advisor or pressured into decisions that weren’t right for them.
Whatever the details, we take the time to listen, understand your concerns, and shape a legal strategy that fits your specific needs.
Inappropriate Recommendations
Brokers are required to suggest opportunities that fit your age, financial goals, income, and comfort with risk. If an advisor encourages you to invest in high-risk or complicated products that don’t suit your situation, it can lead to serious financial harm, especially if you’re close to retirement or rely on your savings.
Lack of Diversification (Overconcentration)
Overconcentration happens when too much of your money is placed into one stock, sector, or type of security. If the market takes a hit in that specific area, your entire portfolio can suffer. A well-balanced strategy should spread risk across different types of assets, but some brokers ignore this in favor of risky or self-serving strategies.
Improper Use of Margin Accounts
Margin accounts let you borrow money to invest more, which can boost gains, but they also increase the chance of big losses. If a broker pushes margin trading without clearly explaining the risks or uses your account without permission, it can result in fast and damaging losses.
Ponzi Schemes and Fake Opportunities
A Ponzi scheme is a type of business and investment fraud where money from new investors is used to pay fake “returns” to earlier investors. These scams collapse when new money runs out. We’ve worked with people who were caught in these schemes, helping them hold the responsible parties accountable for their actions.
Work with a Compassionate Securities Attorney Serving South Dakota Today
At Meyer Wilson, we understand how damaging this kind of financial loss can be. Our experienced team has helped people across the country recover losses from brokers and firms who failed to do their jobs properly.
We have over 75 years of combined legal experience helping people like you. Let our securities lawyers serving South Dakota help you.
You worked hard for years to build up your savings and trusted a financial advisor to handle your securities with care. When that trust is broken, the impact can be devastating, especially if you’re depending on that money for retirement or long-term security. Call today to learn more about your options to rebuild your portfolio.