Unsuitability

Investor Claims Is What We Do - All Day, Every Day

Since 1999 our law firm has recovered more than $350,000,000 for victims of investment fraud and misconduct.
  • Jury Verdict Won Against Prudential Securities $262 Million
  • Recovered for 100-Year Old Widow $30 Million
  • Recovered in Retirement Losses $10 Million
  • Recovered for a Large Group of Individual Investors $6.5 Million
  • Recovered for Elderly Victim in Ponzi Scheme Case $3.8 Million
  • Recovered for Elderly Ponzi Scheme Victim $3.2 Million
  • Recovered for More Than 50 Families of Ponzi Scheme in California $3.2 Million
  • Recovered for 35 Families in Northeast Ohio $3.1 Million
  • Losses Recovered for 20 Retirees $3 Million
  • Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration $2.5 Million
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Everything You Should Know About Unsuitable Investment Claims

Violations of the “Know Your Customer” Rule & How They Lead to Unsuitable Investment Claims

Your broker has the obligation to obtain enough information about you and your finances—such as your income and assets—to discuss the appropriate investments. New York Stock Exchange Rule 405 (also known as the "Know Your Customer" rule), states that a stockbroker or financial advisor’s number one duty is to make suitable recommendations to his or her customers. Brokers must take ample care to investigate the investor’s unique needs and ensure that the investment will be proportionate to their goals and financial situation.

Information that your broker should consider before making an investment recommendation:

  • Your current financial state
  • Why you are investing and what you hope to get out of it
  • Your future financial and situational needs
  • Your tolerance for risk

Brokers not only should take steps to get to know their customers and their investment goals. They should also adequately research the investment before recommending it to you. After careful research, the broker should know whether or not recommending that particular investment to you would be suitable. Also, what is suitable for you now may not be suitable for you in the future, so your broker’s job is to continuously evaluate your needs as well as the state of the investment to ensure it remains in a state of suitability.

Stockbroker Misconduct Cases

The investment advice you receive from your broker should be based on what is most suitable for your current situation and future goals. When brokers fail in their duty to adequately research the investment, or they knowingly and intentionally recommend unsuitable investments, investors can file claims to recover their resulting losses. These types of claims are generally handled through FINRA arbitration, provided that the broker was registered and working for a registered investment firm.

Enlist the Help of an Investment Fraud Lawyer

The securities arbitration lawyers at Meyer Wilson have represented more than 800 investors and may be able to help you. We are experienced at reviewing and investigating investor claims of unsuitability.

Call us or fill out our online form for your free case evaluation.

The Meyer Wilson Way

Results-Focused Representation
  • More than $350,000,000 Recovered
  • Voted Best Lawyers in America┬« for Ten Years Running
  • David Meyer is President-Elect of Public Investors Advocate Bar Association (PIABA)
  • Over a Thousand Investor Claim Cases Since 1999
  • Exclusive Focus on Investor Claims & Class/Mass Action Lawsuits
  • Deep Bench of Skilled Attorneys and Staff Members

TRUSTED BY OVER 1,000 INVESTORS

Meyer Wilson has represented over 1,000 individual investors in high-stakes claims across the country, and has recovered over $350 million on their behalves. See what former clients have to say about our team.

  • “I primarily worked with Courtney Werning throughout the process and she was informative and knowledgeable. I trusted and fully recommend Courtney and her team.”

    - S.R.
  • “The communication throughout the process was on par - and they took the time to indulge me with the various questions and opinions.”

    - R.G.
  • “What I truly appreciated was getting a great result for my Mom with limited involvement/stress on her.”

    - S.W.
  • “We went to arbitration with the other respondent and I got to see firsthand the level of professionalism and expertise the Meyer Wilson firm can deliver.”

    - D.V.
  • “Chad would take the time to call and talk with me. His explanations were always clear and concise. I also appreciate all the effort put into the details and statistics required to argue this case.”

    - P.N.
  • “Meyer Wilson was able to produce the results that we felt were obvious and warranted while several other firms and even state offices simply had trouble understanding let alone moving the case forward.”

    - B.K.
  • “My overall experience was positive and I would encourage anyone who even thinks they have been a victim of stockbroker misconduct to call David.”

    - S.T.
  • “Meyer Wilson represented me in a suit brought last year against my brokerage firm, securing a very fair and equitable settlement for me.”

    - R.G., M.D.
  • “Right from the start, you had the passion and desire to win this case for us. I have never worked with an attorney or firm as compassionate as yours. I would highly recommend your firm to anyone.”

    - G.A.
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