Misconduct by stockbrokers and financial advisors comes in many forms.
Over the past several years, the most common misconduct by brokers is
investing too much of their clients' portfolios in high risk stocks
(e.g., the technology sector), particularly retired clients on fixed income.
Some of the most egregious cases we handled on behalf of investors involve
a single broker, who was not adequately supervised by his brokerage firm,
who preys on retirees from local companies. For example, our firm has
represented numerous retirees who worked and saved their whole life only
to have their retirement nest egg improperly invested, resulting in a
40-95 percent decline in its value.
Another abuse that has surfaced in the past several years is when a trusted
financial advisor or broker convinces their clients into investing in
a product known as a variable annuity. While a variable annuity can be
an appropriate investment in certain limited circumstances, more often
than not it is unsuitable because of the costs associated with it and
its lack of liquidity (it can be as long as 10 years before the investor
can access the funds in the annuity without paying a penalty).
Contacting Meyer Wilson
Our firm has represented hundreds of individual investors with these types of claims
and others against their brokerage firm or insurance company. We may be
able to help you recover a portion of your losses. All of our cases are
accepted on a contingency fee, meaning our firm earns a fee only if we
recover losses for the wronged investor.
Not sure if you have a claim against a brokerage firm? If you would like
one of our securities attorneys to review your potential claim at no charge,
contact us or complete the online securities case evaluator.