A customer can also be harmed by his or her financial advisor’s negligence. While such harm may not have been intended, it is just as real as harm caused by fraud – and the losses can be just as devastating. Stockbroker negligence frequently involves
“unsuitability” -- the recommendation of a security or strategy which is not appropriate for the customer. This can be caused by the stockbroker not thoroughly researching the risks of the security/strategy involved or not taking the time to understand the investment objectives, risk tolerance and financial needs of you, the client. Financial advisor negligence can also arise from poor communication (not adequately explaining known risks of a complex product to the client), overconcentration of a client’s portfolio in a particular stock or market sector, incorrect tax advice or negligent retirement planning.
If you have lost money because of the negligence of your stockbroker, brokerage firm or investment advisor, we would like to help.
Contact The Prosser Law Firm for a free, informative consultation at 901-820-4433.