An investment adviser has a high level of responsibility, known as a fiduciary duty, to serve a client's best interests when managing his or her money. If you think your financial adviser failed to act in your best interests, and you lost money as a result, you may be entitled to compensation.
At the law firm of Shepherd, Finkelman, Miller & Shah, LLP (SFMS), our attorneys regularly represent clients in litigation against brokers, brokerage firms, registered investment advisers and other investment professionals. We typically resolve disputes through arbitrations and related proceedings before the Financial Industry Regulatory Authority (FINRA).
The following are examples of investment adviser actions that may lead to a legal claim of breach of fiduciary duty:
- Picking an unsuitable investment based on your age or investment goals
- Failing to explain the risks of an investment
- Charging excessive fees
- Funneling your money to a hedge fund or other investment with which the adviser has an undisclosed relationship
- Failure to diversify investments
- Excessive trading or churning
- Unauthorized trading
- Theft of client funds
- Running a Ponzi scheme
SFMS has extensive experience in securities litigation and regulation. Our attorneys have successfully represented many retirees who suffered losses in their retirement portfolios due to unsuitable investments or other securities law violations.
If you believe your investment adviser took advantage of you or someone in your family, contact SFMS to explore your legal remedies with one of our experienced lawyers. With offices in California, Connecticut, Florida, New Jersey, New York, Pennsylvania and Wisconsin, we represent clients throughout the United States.