As trusted advisors, attorneys are in a good position to help their clients and friends who are investors protect against mismanagement of their investment accounts and to recognize potential securities fraud claims. The securities business is extremely complex, and individual investors are typically unfamiliar with what types of broker conduct are proper. Investors are often quick to blame themselves for the losses in their account and are embarrassed to admit that they did not understand what the broker was doing with their money. Your clients may unknowingly have claims and you are in a position to point them in the right direction.
General practitioners and attorneys who focus their practice in areas of the law other than securities arbitration are encouraged to review the information on this web site and share it with clients, friends and colleagues. Mr. Meyer, Mr. Wilson, and the other lawyers at our firm value their strong relationships with referring lawyers and are available to consult (at no charge) with lawyers who believe they have a client or colleague who may have suffered losses as the result of securities fraud or other stockbroker misconduct.
Accountants - Schedule your firm's Continuing Education Seminar, approved by the Ohio Accountancy Board for 2 credit hours.
Accountants and financial advisors can play a vital role in assisting their clients in recognizing the possibility that they may have been exposed to investment fraud or broker misconduct.
Some clients do not read, or infrequently read, regular statements generated from their investment accounts until it is time to present the information to their accountant for tax preparation purposes. In other instances, a client simply does not understand these statements and brings them to trusted accountants and financial advisors for help.
Whether preparing tax documents, performing an audit, or giving general financial advice to a client, accountants and other financial professionals have access to clients' sensitive financial information. This puts financial professionals in a good position to make an initial evaluation as to whether certain investment transactions are consistent with what they know about their clients. If the possibility of improper conduct on behalf of the stockbroker is discovered through such an analysis, the investor can then be advised to seek legal counsel regarding options available to recover some or all of the losses.
The most common investment fraud tactics of which a financial advisor should be aware are:
Breach of Fiduciary Duty
- Churning Unauthorized Trading Unsuitability
Our attorneys are available to discuss these and other potential securities fraud claims or other related issues with accountants and financial advisors who think their clients may be unaware of potential stockbroker misconduct. We are available to meet with the investor to determine if he or she may be able to recover some or all of the losses.