My stockbroker seems to be making a lot of trades on my account, and I'm not sure why. Should I be worried about stockbroker fraud?
While evidence of frequent trades could be a sign of stockbroker fraud, many times trades are being made in your best interest. However, some unscrupulous brokers do make excessive trades on client accounts in order to generate commissions for themselves. This fraudulent practice is called “churning,” and it sometimes can be hard to spot without an expert on your side.
If you suspect your broker is churning your account or making excessive trades for his or her own benefit, you should speak with a stockbroker fraud attorney who can review the activity and advise you on your options. One of our stockbroker misconduct attorneys would be happy to sit down with you and determine if the frequency of trading on your account is unusual, if there are large commissions associated with the trades, and if your broker has potentially failed to act in your best interests.
We are highly experienced with cases of churning and stockbroker fraud, and we are fully qualified to represent you in any necessary FINRA proceedings to pursue recovery of your losses. If you would like more information about churning, stockbroker misconduct, breach of fiduciary duty, and other types of financial fraud, give us a call today to schedule your completely free consultation.