Stockbrokers and investment advisors are bound by a fiduciary responsibility to guard and protect their clients’ best interests. When clients are sold certain bad or risky investments or financial products like variable annuities, commodities speculation, or collateralized debt obligations (CDOs) as wise investments, they are often deceived into a false sense of security. For those who need stable financial investment strategies in order to provide long term financial security, deceptive sales practices can place their financial futures at considerable risk. Attorney Jeffrey A. Feldman exposes deceptive, improper sales practices on the part of brokers and financial advisors that lead to financial loss.
Don’t let your broker or financial advisor blame market forces for financial losses you can’t afford — complete an online contact form today. Mr. Feldman provides free consultations in order to evaluate your case and discuss the legal options available to you for recovering damages.
Conflicts Of Interest And Improper Sales Practices
Brokers and financial advisors have a fiduciary duty to honor and protect the interests of their clients above those of their own. Selling financial products or services that place their client’s financial security at risk create the following kinds of ethical issues:
Loyalty: Since most risky financial products carry substantial commissions, it’s reasonable to ask whether a product was deceptively sold to a client in order to collect a higher commission.
Suitability: Some clients cannot afford riskier, high-yield investments. Additionally, a client’s age, earnings, and financial needs may require low-risk, lower yield investment options. Recommending a high-risk product or one unsuitable to their needs may place them at substantial financial risk.
Disclosure: Variable annuities, hedge funds, and investments tied to the subprime market can be complicated. When brokers or advisors sell a high-risk product, did they fully disclose the risk to their client? Did the client agree with a full understanding of the risks involved? If not, the broker or advisor may have breached their fiduciary responsibility regarding full disclosure.
Exposing Improper Sales Practices
Most stockbrokers and financial advisors will deny losses were caused by their wrongdoing. They will point to market opportunities, unpredictable market forces, and information they received to justify their actions. In order to expose deception and incomplete disclosure on the part of brokers and advisors, Mr. Feldman works with financial experts uncovering malfeasance on the part of investment firms and financial institutions.
Contact An Experienced Lawyer
Contact us if you have questions regarding financial services, investments, or insurance products your broker or financial advisor sold to you. Mr. Feldman can evaluate your case, your losses, and determine if you a cause for legal action.