Broker Checks

My broker offered me a fantastic investment, but he says that it’s not offered through my brokerage firm and I should just make out the check to him. Should I be worried?

As a stockbroker misconduct lawyer, I can say that your question raises some serious red flags. Although I cannot say for certain without more details about your specific situation, it is a good habit never to make out your check directly to your broker or financial adviser and always to be wary when offered an investment product that is not approved by the brokerage firm your broker works for—especially if he or she tells you that the opportunity is a “sure thing,” is “guaranteed.”

Our firm is investigating potential claims against H.D. Vest and stockbroker Lewis J. Hunter for similar allegations that Hunter inappropriately lured investors into an outside investment that was not offered through H.D. Vest. In that case, it is believed that Hunter pocketed the cash from investors for his own personal use and placed it in bank accounts that he controlled. At this time of initial investigation, investors allegedly lost $300,000 so far in the deal, and this is only one example of this type of investment fraud.

Before you go any further, I strongly encourage you to give us a call to discuss the details of your situation with our experienced securities arbitration attorneys, and I encourage you to request your FREE copy of our book Five Signs of Investment Fraud…And What to Do if It’s Happened to You. This way, you can get a better idea of what you might be dealing with and how to proceed. You may also want to check your broker’s background through tools such as FINRA’s BrokerCheck and pay attention to any complaint history in his past.

If you have already sustained losses, don’t wait any longer to get help from an experienced securities arbitration lawyer. Meyer Wilson has represented hundreds of clients all over the nation in stockbroker mediation, arbitration, and litigation, and we would be happy to put our experience to work for you and provide guidance in recovering your losses.

For more information, watch Attorney Dave Meyer’s video below.