Taken Advantage of By Your Stockbroker?
If you are the victim of securities fraud, caused by churning or other types of stockbroker misconduct, the Law Office of Hilton Wiener will attempt to recover your losses through arbitration.
Financial professionals are required to make investment recommendations that are appropriate for the client’s individual financial situation and goals. Brokers have an obligation and duty to know their customer and his or her goals and investment strategy. All too often unscrupulous brokers paper the account file with self-serving forms to falsely indicate that the customer desires speculation or a high degree of risk when such is clearly not suitable.
It is forbidden for brokers to buy and sell securities for the primary purpose of generating commissions. All too often, the customer does not realize the frequency of trading. Moreover, such brokers often use hidden “markups” or “markdowns” to conceal the actual commission being charged.
Failure to Supervise:
Financial firms are responsible for overseeing the actions of their representatives. If a firm fails to properly supervise its employees, it can be held liable along with the individual broker or advisor.
The act of buying or selling investments without permission. In most accounts, the customer must clearly approve every buy and sell order immediately prior to the broker executing the transaction.