Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Common Questions About Brokers

Do brokers need authorization?

Before making any transactions on your behalf, brokers must obtain signed permission and authorization from their customers.

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Why do brokers sell away?

One of the tactics that may be used in investment fraud is selling away. Why do brokers use this tactic? Learn more about selling away and why some brokers are motivated to do it.

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Why are CRD numbers important?

Did you know that if your broker or financial adviser has prior complaints or disciplinary actions, they may be listed in a public record database you can access online in seconds? CRD numbers allow you to do your research before trusting your money to a broker.

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What is a registered investment adviser?

A significant trend in recent years has been stock brokers leaving brokerage firms and becoming what are known as registered investment advisers. Learn more about what these people do.

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What is the difference between fee-only and fee-based brokers?

Fee-only accounts are managed by financial advisors that do not accept any fees or commissions based solely on their product sale. “Fee based” means they charge a fee in addition to collecting commissions.

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Should I listen to my broker if he/she is recommending margin trading?

As investment fraud attorneys, we are often surprised by the number of “ordinary” investors who contact our offices because they have been sold on the idea of investing on margin by their financial advisor.

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Why is it important to know how my broker or financial advisor gets paid?

The way your broker gets paid can give a lot of insight into your broker’s decisions. Your broker could be making money through commissions and fees, and while not every broker is trying to defraud you, this could be a temptation to do so.

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I really want to invest, but I'm afraid brokers will take advantage of my lack of experience. How can I keep my money safe and avoid getting mixed up in an investment scam?

It can be difficult for an inexperienced investor to join the game, especially for fear of falling prey to an investment scheme. Familiarize yourself with some common red flags to avoid this.

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My broker did not inform me of the risks associated with margin trading. I have lost money as a result. Can I hold the brokerage liable?

Trading on margin is extremely risky. If you lost money through this type of investment because your broker failed to disclose the risks, you may have a claim.

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I know avoiding securities fraud has a lot to do with finding out more about my broker, but what does my broker or financial advisor actually need to know about me?

While it can be easy to get caught up in finding information on your broker, it is important to remember that your broker also has a responsibility to know certain things about you as well.

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I think my stockbroker misrepresented an investment. What do I have to do to prove it?

There are three things you will probably have to show if you think your stockbroker misrepresented an investment, including: proof that you lost money through misrepresentation, proof that your broker actually misrepresented the investment, and proof that you relied on your broker’s advice.

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What is a broker CRD number?

A broker CRD number is a number given to every registered representative who is licensed to sell securities. It stands for Central Registration Depository.

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My broker invested a large percentage of my portfolio in one asset class. As a result, I have lost a significant amount of money. Who is responsible?

Usually investors seek a well-balanced portfolio, which is why it can be frustrating if your broker invested most of your funds into one asset class. If this happened and you lost money, the brokerage firm could be responsible.

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How do I know if my broker was negligent?

The main question that needs to be answered here is whether your broker’s handling your portfolio met or failed to meet the accepted level of care.

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I feel that the brokerage firm was not adequately supervising my broker and that is why I lost money on my investments. What should I do?

Brokerage firms are responsible for their brokers. If a broker participates in fraud or misconduct, the brokerage firm they work for could be held liable for failing to supervise them.

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My broker didn't explain the potential risks involved in the investment he recommended. I ultimately lost money. Can I hold the brokerage firm responsible?

It is part of a broker and brokerage firm’s duty to act in good faith to you to disclose all potential investment risks. If they did not and you lost money, you may be entitled to recover your losses.

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My broker recommended an investment that didn't fit my financial situation and I lost money. Can I hold the brokerage firm responsible?

It may feel like your broker just isn’t listening to you if they make investment moves that just don’t fit your financial situation. If this is happening, it might be more than your broker not listening to you. It could mean intentional misconduct.

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When Choosing an Attorney, Results Matter

  • $30M
    $30,000,000 Recovered in Confidential Settlement for 100-Year-Old-Widow
  • $10M
    Retirees Recover in Excess of $10,000,000 of Retirement Losses
  • $6.5M
    $6,500,000 Recovered for a Large Group of Individual Investors
  • $5M
    $5,000,000 Recovered for Group of Midwest Clients
  • $3.8M
    Meyer Wilson Recovers More than $3,800,000 for Elderly Victim in Ponzi Scheme Case
  • $3.2M
    $3,200,000 of Losses Recovered by Meyer Wilson for More Than 50 Families of Ponzi Scheme in California

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