Meyer Wilson is currently investigating Raymond James Financial Services (RJFS) sales of Canadian Royalty Trust ("Canroy") stocks and potential recovery for victims of the alleged misconduct. RJFS is accused of over-concentration into Canroy stocks and related
unsuitable practices. The oil and gas stocks involved include Enerplus, Pengrowth and Penn West.
Canroy stocks are high-yield, but incredibly risky. The appeal is that, because they are set up as a trust, they can bypass corporate taxation and therefore the royalties go directly to the shareholder. Despite their appeal, these stocks are only suitable for a certain kind of investor. Recent allegations claim that RJFS advisors recommended Canroy stocks to retirees, which is extremely unsuitable considering that these investments carry the risk of substantial financial losses.
Financial advisors and brokers have a duty to only recommend investments to their clients that are appropriate and suitable to their particular financial situation. RJFS brokers may have violated securities industry regulations and recommended unsuitable Canroy stocks.
If an RJFS broker recommended that you invest in risky Canroy stocks and you suffered substantial financial losses, contact Meyer Wilson for a free case evaluation today. An investment fraud attorney from our firm can fight to recover your losses caused by Raymond James Financial Services.