Beneficiary Broker Fraud Lawyers

Claimant Files Six-Figure Breach of Contract Lawsuit Against Merrill Lynch. Our Beneficiary Broker Fraud Lawyers Filed This Recovery Claim in FINRA Arbitration

Shepherd Smith Edwards and Kantas Beneficiary Broker Fraud Lawyers (investorlawyers.com) are representing a claimant who is pursuing up to $500K in damages from Merrill Lynch, Pierce, Fenner & Smith.

This is a case of alleged breach of contract in which the broker-dealer failed in its duty to properly facilitate a beneficiary transfer involving an annuity—a misstep that could have easily been avoided and that the firm and its registered representative knew/or should have known to execute properly.

As a result, when the account holder passed away, the claimant inherited an empty account, which was not what the deceased wanted.

In her FINRA lawsuit, the claimant is alleging negligence, gross negligence, misrepresentations and omissions, and a failure to supervise by Merrill. She is accusing Merrill of California elder financial abuse, as the broker-dealer’s actions deprived the deceased, an elderly senior, of her property rights. This beneficiary contends that Merrill breached its fiduciary duty to both of them.

What Is Breach of Contract As It Pertains to Brokers?

This is what happens when a broker neglects to fulfill its obligations per the terms of their contract with a client. Breach of contract can become broker fraud if the actions of the financial advisor were purposely misleading or deceitful.

As you can see, it isn’t only investors who can fall victim to a breach of contract by a broker. If you are someone who is in a dispute with a financial advisor, it is important that you explore your legal options with trusted breach of contract attorneys who know how to pursue investment loss recovery claims against a broker-dealer or their registered representative. This is not something you want to try to resolve on your own or without a skilled securities firm on your side.

Most brokerage firms would rather deny your allegations of negligence than pay you. Shepherd Smith Edwards and Kantas Beneficiary Broker Fraud Lawyers have been representing investors against broker-dealers who have committed breach of contract and other kinds of broker misconduct.

More than 90% of our clients have secured full or partial financial recovery. That equates to thousands of investors collectively recovering many millions of dollars through our dedicated efforts.

Contact our Beneficiary Broker Fraud Lawyers Today

As the beneficiary of a brokerage account, we know how upsetting it can be to not be able to access funds that were left to you by a loved one because of the careless actions of a broker-dealer. It is important that you contact us today to explore your legal options and so that we can help you assess whether you have grounds for a broker breach of contract lawsuit.

Call (800) 259-9010 to request your free case consultation.

Shepherd Smith Edwards and Kantas understands the importance of taking preemptive steps to getting your financial affairs in order. Because of this, we have partnered with McCulloch & Miller to provide elder law and estate planning services to seniors and their families.