Breach of Fiduciary Duty
Recommendations to Hold
High Yield Bonds
“Reverse Churning” of Fee Based Accounts
Alternative Mutual Funds
Signs You May Have a Securities Claim
Investors: Perspective from the inside
Investment fraud and other stockbroker misconduct can put your financial future in jeopardy, wiping out years of work and shattering your piece of mind. Stockbroker misconduct can take many forms, including outright stockbroker fraud – such as recklessly misrepresenting the risks of an investment to make a sale, overtrading an account to generate commissions or making trades without permission. Misconduct, however, can be more subtle and can also include stockbroker negligence – recommending a security that the broker did not fully understand or recommending a strategy – such as to hold a position – without considering all of the risks. Misconduct can also include a breach of fiduciary duty where the investment advisor or broker puts his interests ahead of the client’s – such as by recommending a fee-based account to a client who doesn’t trade frequently or by charging management fees on long-term positions (or on cash) where “management” is unnecessary. Each of these types of financial advisor misconduct have one common
denominator: they are illegal and you can sue for your losses.
As Head of Litigation for a large, regional broker for 15 years, Mr. Prosser was involved in the defense of over 1,750 FINRA arbitrations. This experience ranged from resolving cases by informal settlement or mediation, up to taking FINRA arbitrations to trial. Being a former insider, Mr. Prosser understands the types of documents that should exist and the duties your stockbroker – and his/her supervisors – owe to you the client. Let Mr. Prosser put this perspective to work for you. While we are based in Memphis, Tennessee, we will evaluate potential arbitration matters anywhere in the U.S. Contact our offices for a free, informative consultation at 901-820-4433.