At Meyer Wilson, we have seen numerous clients who have lost money due
to unit investment trusts (UITs). Brokers and brokerage firms are often
pitching UITs as helpful and beneficial. Unfortunately, not all investors
can benefit from this and ordinary mutual funds are probably the better
option. Brokers do not always explain the risks involved with UITs and
investors often feel the most of the damage. It often goes unknown that
UITs can be expensive, but the brokers do not always divulge this information.
Watch As Attorney David Meyer Explains Unit Investment Trusts (UITs)
Brokers may sell UITs on a commission fee basis and they often stand to
gain the most from this action. The problem with most UITs is that they
usually remain fixed on a buy and hold basis. This ends when the trust
is terminated. Most investors can experience various fees, charges, and
taxes that can affect their investment because the UIT was pushed on them
with the idea of reinvesting.
While not all UITs are bad and some brokers can make this a positive investment,
not all brokers understand them completely and thus can’t help investors
understand them. They are complex and often difficult to navigate. When
someone who is inexperienced with UITs recommends this investment, it
is bad advice and should be avoided completely. This is what often causes
unsuspecting investors to lose money.
Our securities attorneys at Meyer Wilson help investors who have lost money
due to bad advice, fraudulent schemes, or other related violations. We
work to help our clients recover their losses from the responsible broker.
You can schedule your
complimentary case evaluation with our firm and discuss the specific details of your case. Our goal
is to protect you and your finances from breach of fiduciary duty on the
broker’s or brokerage firm’s behalf. Call us today to begin
discussing your case.