As in life, when you invest, you have some basic rights. You should always keep these rights in mind when dealing with your brokers or financial advisors. The more aware you are of your rights, the less chance you have of being cheated. Here is a basic list of your Investor Bill of Rights:
- Ask for and receive information from a firm about the work history and background of the person handling your account, as well as information about the firm itself.
- Receive complete information about the risks, obligations, and costs of any investment before investing.
- Receive recommendations consistent with your financial needs and investment objectives.
- Receive a copy of all completed account forms and agreements.
- Receive account statements that are accurate and understandable.
- Understand the terms and conditions of the transactions you undertake.
- Access your funds promptly and receive information about any limitations on access.
- Discuss account problems with the branch manager or compliance department of the firm and receive prompt attention to and fair consideration of your concerns.
- Receive complete information about commissions, sales charges, maintenance or service charges, transaction or redemption fees, and penalties.
- Contact your state or provincial securities agency to verify the employment and disciplinary history of a securities salesperson and the salesperson’s firm; find out if the investment is permitted to be sold; or file a complaint.
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.