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DENVER: (720) 599-3505
SEATTLE: (206) 795-5798
What do I do when my broker or financial advisor lies to me?
Many people hire a broker or financial advisor based upon the recommendation of a friend or family member. Maybe the broker is someone you know from your children’s school or from your church. Generally, relationships between a broker and his client are founded upon trust, and often times, a mutual religious faith.
All too often, unscrupulous brokers and broker-dealers take advantage of these trusted relationships by making false promises and misrepresentations about investments and investment returns.
Federal and state laws prohibit making false statements during the sale of securities, but, unfortunately, it happens every day. Perhaps your investment advisor told you a particular investment was: “a sure thing,” or a “no-lose opportunity.” Maybe he or she knew that a particular investment was particularly risky, but told you that it was a safe and prudent investment. Maybe your advisor told you that he or she thoroughly researched the investment, when in actuality, it was a fraudulent scheme, or maybe, they performed no due diligence on the investment at all.
When false statements are made during the sale or purchase of investments, you may have remedies available, such as rescission of the purchase and statutory causes of action for your damages, including out of pocket losses, interest, and attorney fees. Your claims are not limited to the individual financial advisor either, as they are generally acting as an agent of his or her brokerage firm. Further, under most state’s laws, a brokerage firm is liable for the actions of its brokers, to the same degree that a broker or advisor is liable.
Israels & Neuman has knowledgeable securities attorneys that represent investors who have suffered losses due to the actions of brokers, financial representatives, and broker dealers. We have offices in Denver and Seattle, but represent investors in FINRA arbitration proceedings in all 50 states. All of our cases are taken on a contingency fee basis, meaning that you do not pay unless we recover money for you.
HAVE YOU LOST MONEY DUE TO FALSE STATEMENTS OR PROMISES MADE BY YOUR FINANCIAL ADVISOR?
Aaron Israels: (720) 599-3505
David Neuman: (206) 795-5798