The stockbroker fraud lawyers at Meyer Wilson are currently investigating
claims involving former Securities Service Network broker Dale Isaak of Missouri.
Meyer Wilson is currently investigating claims involving Dale Isaak, a
former Securities Service Network broker from Missouri. According to a
complaint filed in Missouri, Isaak allegedly sold various ETFs to elderly clients that resulted in
nearly $1 million in losses using what was called the "Sherman Market
Timing Strategy." The alleged misconduct took place from January
2010 to December 2011, and the complaint states that in 19 investment
advisor accounts, more than 90 percent of those accounts were invested
in non-traditional inverse ETFs.
ETFs or "Exchange Traded Funds" can seem like a good investment
on the surface, but they are not usually a suitable fit for retirement
money. ETFs are traded throughout the day, causing an almost constant
fluctuation in prices unlike other investments such as
mutual funds. Inverse ETFs are even more risky, as they are designed to perform as
the inverse of whatever index or benchmark it tracks using short sales
derivatives such as futures contracts.
Because increased trading activity can generate hefty commissions and fees,
the overall return on investment is usually lower. Most long-term retirement
plans call for long-term investments, and most ETFs are not designed to
be held for long.
Watch our video to learn why ETFs are not good for retirement money.
Isaak allegedly failed to disclose to his clients that these inverse and
leveraged ETFs would be a risky move. If Dale Isaak was your broker and
you lost money, we invite you to contact Meyer Wilson today. Our securities
fraud attorneys help investors recover losses caused by fraud and misconduct.
Call or fill out a
free case review to tell us what happened to you.