Brokers and securities advisors have the legal duty to operate in good faith toward investors and to act in the investors' best interests. However, many brokers and brokerage firms have revenue sharing agreements with specific mutual funds. This can create a conflict of interest, which often goes undisclosed.
When a broker has a revenue sharing agreement with a mutual fund, the broker may push or recommend that particular mutual fund to investors over other, more suitable funds because the broker receives financial compensation for doing so. This is a violation of the broker's duty to put the investor's financial interests before his or her own.
Did you suffer a significant financial loss?
Losing assets because your broker had an undisclosed conflict of interest is not only unethical, it is a violation of your rights as an investor. If you have suffered losses for that reason, you will need a skilled and experienced securities arbitration lawyer to aggressively pursue your claim against the investment firm that wronged you. The investment fraud attorneys at Meyer Wilson have over 50 years of collective experience practicing in the field of investment law exclusively, representing hundreds of clients successfully and reclaiming hundreds of millions of dollars on their behalf.
We have the resources to conduct thorough, detailed investigations that build the foundation for precise, effective claims of undisclosed interest against dishonest brokers. No matter how well-prepared or sizable the brokerage firm, our lawyers are prepared to work relentlessly for the victims of investment fraud across the nation, from Ohio to Florida, from New York to Hawaii. Contact our firm by phone or by completing our online form—we offer case evaluations at no cost to you, so we can help determine your next step.