If your financial advisor caused losses because the brokerage firm failed to supervise the advisor’s recommendations or conduct, the firm may also be responsible.
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Speak Directly With Attorney Glenn Mazer
Brokerage firms are responsible for supervising their financial advisors and the recommendations made to customers. When a firm ignores warning signs, fails to review suspicious activity, or allows unsuitable recommendations to continue, investors can suffer serious losses. Problems may include:
A brokerage firm may be responsible when it knew or should have known that a financial advisor was making unsuitable recommendations, taking excessive risks, concentrating customer accounts, engaging in questionable sales practices, or otherwise placing investors in harm’s way. A pattern of red flags that went unchecked can be especially important.
Depending on the facts, responsibility may extend beyond the individual financial advisor. The brokerage firm itself may be responsible when inadequate supervision, weak compliance procedures, ignored red flags, or a failure to investigate suspicious conduct allowed investor losses to occur.
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Mazer Law Firm can review your investment records and help determine whether broker misconduct or brokerage-firm supervision failures may have contributed to your losses.
Many investment-loss claims are brought through FINRA arbitration against the financial advisor, brokerage firm, or both. Depending on the facts, claims may involve unsuitable recommendations, misrepresentations, excessive trading, failure to supervise, breach of fiduciary duty, or other misconduct. In some situations, claims may also be pursued in state or federal court.
The right path depends on how the investment was sold, who recommended it, the agreements governing the account, and the deadlines that apply. A careful review of the account records and communications is often the first step in determining whether a recoverable claim exists.
Supervision cases often turn on what the brokerage firm knew—or should have known. Account records, compliance reviews, supervisory communications, customer complaints, branch audits, trading patterns, and other records may show whether warning signs were present and whether the firm responded appropriately.
If you lost money after relying on a financial advisor or brokerage firm, Mazer Law Firm can review what happened and help determine whether you may have a claim to recover your losses. Speak directly with Attorney Glenn Mazer about your situation.
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