Breach of Fiduciary Duty
Securities Fraud Attorney for Investor Claims
Breach of fiduciary duty is one of the most common investor claims against
stockbrokers and brokerage firms. Regarding their brokers as experts in
the area of investments and money management, many investors rely entirely
on the advice and recommendations of their brokers. Recognizing the profound
level of trust this places in the broker, the courts have determined that
brokers hold particular legal duties toward their clients.
Brokers and brokerage firms always have a duty to deal in good faith with
their investors as long as they remain clients. Many jurisdictions also
hold that brokers owe their securities customers a heightened duty known
as a "fiduciary duty." A broker's fiduciary duty to an investor
- The duty to place the client's interests ahead of the broker's
or the brokerage firm's interests
- The duty to monitor the changing markets for impact on the client's interests
- The duty to act responsibly and with due care in serving the client's interests
- The duty to advise the client on the potential benefits and risks involved
with broker recommendations/actions, and
- The duty to keep the client abreast of all transactions that affect the
According to 29 USC § 1109,
Any person who is a fiduciary... shall be personally liable to make good
to such plan any losses to the plan resulting from each such breach, and
to restore to such plan any profits of such fiduciary which have been
made through use of assets of the plan by the fiduciary, and shall be
subject to such other equitable or remedial relief as the court may deem
appropriate, including removal of such fiduciary.
A securities fraud attorney from Meyer Wilson can step in and fight to
recover your losses if you were harmed by a breach of fiduciary duty.
When financial advisors are found guilty of a breach of fiduciary duty
they typically have to restore investor losses, but they may also face
imprisonment and become barred.
Do you have a breach of fiduciary duty claim?
If these duties are not met, both brokers and their firms can be held responsible
for abusing the investor's trust and confidence and breaching their
fiduciary duties. To ensure your claim for breach of fiduciary duty is
handled effectively, you need the assistance of a law firm nationally
recognized for its professional excellence. No matter how large or well-established
Meyer Wilson securities fraud attorneys are prepared with the skill and experience
to represent our clients aggressively and effectively. Our record speaks
for itself: we have recovered over $350 million for our clients.
We have won hundreds of millions of dollars in losses for clients nationwide,
including in cities such as Los Angeles, San Francisco, Columbus, Cincinnati,
New York, Seattle, Boston and Tampa. For help with your stockbroker misconduct
claim, complete our online form for a