A securities dealer has a duty to only recommend investments that are suitable for their customer in light of the customer's financial situation and needs. Before executing any transaction, a broker must make reasonable efforts to obtain information concerning the customer's financial status, tax status, investment objectives, and such other information that is considered relevant in making a recommendation.
Unfortunately, often a broker recommends risky investments to someone who does not have the ability or the desire to risk a financial loss. In order to pursue such a claim against a broker, the attorney must be familiar with the personal financial situation of the client and the documentation the broker had when he/she made their recommendation. The attorney must also be familiar with the duties of the branch office manager and the firm's compliance department.
Securities attorney, Eric Ludin, has years of experience arbitrating claims against brokerage firms who exercised unsuitable transactions for their customers. He has lectured and had his articles published on the topic of stock broker malfeasance. He serves as an arbitrator for the Financial Industry Regulatory Authority, Inc. (FINRA) and is well suited to analyze and pursue your claim.
