At The Frankowski Firm, we represent people and organizations who have lost money due to fraudulent or unsuitable investment recommendations. U.S. News Money has some suggestions for questions to ask your financial adviser early in your relationship, so that hopefully you can avoid one day needing the help of a securities attorney. Among other things, the article says investors should ask the following:
“1. Ask the manager to explain his or her strategy. If the explanation sounds too complicated or the manager can’t explain it in layman’s terms, be wary.
2. Get to know the manager and his or her personality before you commit.
3. Ask for a resume and even consider calling former employers to ensure accuracy. (Yes, you are allowed to do this.)
4. Ask whether the professional tends to work with people your age and at your income level.
5. Ask whether there have been regulatory inquiries into the individual or the firm, noting that if they fudge the truth, you will be able to check. This can be a good measure of honesty very early in the process.
6. Ask if the firm will cover fraudulent or even unethical actions by an individual it employs.
And the biggie, which you should ask yourself: Do these returns or other benefits sound too good to be true?”
The entire article can be found at: http://money.usnews.com/money/personal-finance/articles/2012/01/18/awkward-questions-you-need-to-ask-your-financial-adviser
If you have a legal question about an investment or think you have been the victim of investment fraud, please contact the attorneys at The Frankowski Firm at 888-741-7503 to discuss your potential legal remedies.