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The primary job of a stockbroker or an investment firm is to understand the needs of the investor, and recommend investments that are suitable for those needs. Brokers must use due diligence to understand what expectations the investor has, how much he/she can afford to invest, and how much the investor can safely risk. Brokers should also study the various types of investments to fully understand the potential benefits, risks, and costs of each investment. Suitability claims are one of the most common types of claims heard in FINRA arbitrations.
The legal team at The Frankowski Firm has the experience to review an investor’s portfolio, examine the recommendations that were made, and determine the amount of financial loss caused by the unsuitable recommendations.
In order for a broker to make suitable recommendations, they must know their customer. The “know your customer” rule requires that a broker understand certain things about every client. These include the investor’s
Not every investor has the same goals. Investment advice should be on a person-by-person basis.
Brokers and brokerage firms owe a duty of care to their clients to ensure that they have accurately and appropriately assessed a client’s goals and risk tolerance before offering any advice about potential investment purchases or sales. An investor, however, may bring a claim for unsuitability when:
If you believe that the recommendations of your broker were unsuitable, our attorneys can help you determine if you have a claim. We then work closely with you to obtain you the damages you deserve.
The attorneys at The Frankowski Firm understand the complexities of financial investments. We know how investment advisors are supposed to talk to investors, what information they should obtain from the investor, and what advice is proper. When brokers and investment firms fail to know the customer and fail to recommend suitable investments, our attorneys have the legal acumen to demand payment from these negligent individuals and companies. We have helped many wronged investors get financial justice. For help now, phone our lawyers today at 888-741-7503
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 facts, the damages, the jurisdiction, the venue, the witnesses, the parties, and the testimony, among many other factors. No representation is made that the quality of the legal services performed is greater than the quality of the legal services performed by other lawyers.
Disclaimer: Mr. Frankowski is licensed in Alabama,Florida and Texas. 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.
