Financial Advisors/Broker Misconduct
San Antonio Financial Advisors/Broker Misconduct Lawyers – (210) 298-6666 - (800) 519-2800
We all understand that if we go to work, we are compensated with a paycheck. Once that check is cashed, after our bills have been paid and we find ourselves with a few dollars left over, many people seek out the services of financial advisors and brokers to help invest that extra savings. We entrust our hard-earned money with these individuals, yet broker misconduct is a problem that far too many Texans fall victim to each year.
Financial advisors are hired for their expertise on investment practices, rendering advice on successfully investing money for future gain, often times in preparation for retirement. We trust in financial advisors and brokers because they have done the research necessary to successfully invest assets. They have studied market trends, have helped many individuals before us, and have the know-how to promote the growth of our financial nest eggs. However, not all financial advisors and brokers conduct themselves properly, and practices of misconduct often arise, cheating investors out of their hard-earned money.
Financial advisor misconduct can take on numerous forms:
- Churning: a practice in which brokers invest frequently with the sole intention of merely cashing in on commission fees while disregarding client needs
- Misrepresentation: a practice in which facts and figures regarding an investment are falsified in order to deceive a client
- Unsuitable Recommendations: a practice in which client needs are disregarded, often taking the form of high-risk investments, and investment practice is wholly inconsistent with being in the best interest of the client
- Failure to Protect Assets and Follow Direction: a practice in which brokers mismanage a client's assets, such as investing profits into a high-risk stock even though the client may have specified that the broker reinvest any profits conservatively
- Theft of Client Assets: a practice in which brokers directly steal funds from clients, deceive clients into agreeing to invest in a non-existent stock and then steal those assets from the clients, or use any other deceptive practice to claim unrightfully claim an investor’s assets as the broker’s own
Regardless of the situation, investors are entitled to have their assets invested as they instruct them to be. In the event that a financial advisor or stock broker commits an act of misconduct, the best course of action a swindled investor can take is to retain the services of an experienced financial misconduct attorney who will see to it that negligent advisors and brokers are held accountable for their unscrupulous actions. For more information and a free initial consultation of your Texas financial advisors misconduct case, please contact the attorneys at Cichowski & Gonzalez, P.C. at 800-519-2800.