Birmingham Broker Fraud

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Birmingham Broker Fraud Lawyers Help Clients Avoid Scams

Defending investors across Alabama against broker wrongdoing

Investing is one way people seek to establish long-term financial comfort and security for themselves. Many people look to the guidance of an investment professional to obtain this security. However, when the investment professional mishandles investor funds causing the investor to lose money, we are ready to fight for recovery of the investor’s lost investment.

The Birmingham broker fraud lawyers at the Frankowski Firm have seen clients lose their savings from broker wrongdoing, and we are committed to helping investors receive the best recovery available. We help investors recover from all types of broker fraud. We work to restore our clients’ lost funds through appropriate legal channels.

What type of actions constitute broker fraud?

Our Alabama stockbroker fraud attorneys represent clients in Alabama and across the country who have sustained losses because of:

  • Failure to diversify. This occurs when an investment portfolio constitutes too narrow a scope of investments. If an investment is limited to one company or sector, this over concentration can have devastating effects on the portfolio as a whole.
  • Ponzi schemes. In a Ponzi scheme, the only revenue stream is the recruitment of new investors’ money. When there are no more investors the money and alleged profits dry up.
  • Account churning. Account churning consists of brokers making frequent sales and purchases in a client’s account for the purposes of collecting commissions, rather than for any benefit to the investor.
  • Breach of fiduciary duty. Financial advisors have an obligation to make suitable recommendations and to act in the best interest of their client. Failure to do so is a breach of professional responsibility.
  • Failure to supervise. Investment firms are under obligation to ensure that their brokers are adhering to state, local and federal regulations. When a broker acts fraudulently, and the firm has not done their due diligence, they are held liable for the broker’s wrongdoing.
  • Selling away. To obtain additional commissions, brokers will sometimes fraudulently sell securities that their firm does not hold or is not authorized to sell. This is a breach of the broker’s duty and is often the result of a brokerage firm’s failure to supervise.
  • Suitability claims. Brokers must take the time to understand their clients’ wishes, risk tolerances, investment objectives and financial capabilities. Failure to do so, or to act contrary to what is suitable for the client, is grounds for legal action.

Birmingham stockbroker fraud attorneys fight for our clients’ rights and property

In an ideal world, no client would ever need to seek out legal assistance for broker fraud. However, the reality is that these unscrupulous transactions happen to investors every day. If that moment comes, we are here to walk you through the process of recovering your losses. If you or a loved one has been the victim of any Birmingham broker fraud, call The Frankowski Firm at 888.741.7503 or complete our contact form to discuss your legal options with an experienced Birmingham stockbroker fraud attorney.

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The recoveries, verdicts, favorable outcomes, and testimonials described on this site are not an indication of future results. Every case is different, and regardless of what friends, family, or other individuals may say about what a case is worth, each case must be evaluated on its own facts and circumstances as they apply to the law. The valuation of a case depends on the facts, the damages, the jurisdiction, the venue, the witnesses, the parties, and the testimony, among other factors. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.

Disclaimer: Mr. Frankowski is licensed in Alabama and Florida. He is not licensed in any other state, including Nevada and California. Mr. Frankowski has represented investors from all over the country in securities cases including: Alabama, California, Colorado, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Nevada, New Mexico, New York, North Carolina, Tennessee, Texas.
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