Chicago Inappropriate Securities Risk Lawyer
Did a Stockbroker Push You Into High-Risk Products?
No investment is foolproof, recession-proof or risk-free. However, brokerage firms and investment financial advisors have a duty to recommend investments that are well-suited to the individual client’s risk profile. If you depend on interest income or if you are nearing retirement, for instance, you should not be heavily invested in high-risk or speculative products.
Did you suffer significant financial losses because you were steered into inappropriate investments by a broker or advisor? You may have a claim against the investment firm for unsuitability. I am an experienced securities lawyer and former regulator who knows what constitutes stockbroker misconduct.
I have helped clients recover fair compensation for investment losses through arbitration, mediation and litigation. I offer a free initial consultation to all clients. Contact my office to schedule an appointment.
Illinois Unsuitable Investment Attorney Handling Claims Nationwide
My law practice, John C. Barlow, Esq., Attorney at Law, focuses exclusively in plaintiff representation in stockbroker misconduct and securities fraud. I worked for 18 years for the Financial Industry Regulatory Authority (FINRA), formerly known as the NASD. I am intimately familiar with NASD Rule 2310 which directly addresses suitability of investments.
The rule essentially requires stockbrokers and brokerage firms to get to know the individual investor and that person’s risk tolerance. Specifically, the firm should recommend investments that are appropriate for the individual’s investment objectives, financial status and tax ramifications. In addition, there are other rules for elderly investors that mandate the brokerage firm place the interests of the investor above that of generating commissions for the firm.
In actual practice, some brokerages fail to develop a risk profile or fail to adhere to it. Certain brokers push riskier products in order to generate extra commissions or make up for other losses in the portfolio. This is a violation of the suitability rule and the firm’s fiduciary duty to the client — all investments and trades should be conducted within the acceptable range of risk and with the client’s informed consent.
Contact Chicago Inappropriate Securities Risk Attorney John Barlow
I have helped clients recover compensation for unsuitability in many types of investment products, from stocks and bonds to real estate trusts (REITs), collateralized mortgage obligations (CMOs) and collateralized debt obligations (CDOs).
For a free initial consultation, contact me online or call me at (312)214-3365. I take most stockbroker misconduct claims on a contingent fee basis, charging attorney fees only if I recover compensation for your losses.