Chicago Unsuitability Law Firm

The Chicago Unsuitability Law Firm of Shepherd Smith Edwards and Kantas

 When Brokers Fail To Make an Appropriate Investment Recommendation and the Investor Loses Money

Shepherd Smith Edwards and Kantas Chicago Unsuitability Law Firm (investorlawyers.com) is proud to represent Illinois investors against financial advisors and brokerage firms that made unsuitable investment recommendations. Contact our Chicago unsuitability securities law office if you are someone who would like to explore your legal options.

Unsuitability and How It Can Harm An Investor

An investment is unsuitable for an investor if it fails to support their financial goals. This can happen in a variety of ways. Here are a few examples:

• The investment is too risky for an investor who is a novice or has a low risk tolerance level.
• A conservative investor’s portfolio is overconcentrated with too much of the same investment, or even too many illiquid investments.
• The investor is an older senior for whom investments that take a long time to pay off may be unsuitable because of their age and current financial needs, yet those are the kinds of financial products and securities that their broker recommended.

Financial advisors have to ensure suitability when recommending any transaction, investment, or trading strategy to a customer. This means taking into account the latter’s investing profile, including their age, risk tolerance level, financial goals, investment time horizon, financial needs, tax status, level of investing experience, liquidity needs, and more.

Unfortunately, unsuitable investing recommendations happen all the time, exposing a customer to unnecessary risks that can prove catastrophic. Sometimes this is caused by bad training, negligence, or inexperience on the part of the financial advisor. At other times, carelessness or a disregard for a customer’s best interests may be at play.

There are also brokers and broker-dealers that will prioritize choosing too risky trading strategies or illiquid alternative investments because of the high commissions and fees that they can earn regardless of suitability for the customer.

Broker misappropriation or theft can also lead to unsuitable investment recommendations of fraudulent products or exposure to some kind of investing scam.

Our Chicago Unsuitability Law Firm is well aware of these situations. We know how to determine whether broker misconduct or negligence contributed to your portfolio losses.

What Should You Do If You Are an Illinois Investor With an Unsuitability Claim?

It is important that you do not try to make a case against your broker-dealer without savvy Chicago Unsuitability Law Firm by your side. Unsuitability cases can be tough to prove, which is why you want to hire a trusted Illinois securities law firm that knows how to protect your legal rights to financial recovery while fighting for you.

Financial advisors not only need to do the hard work to ensure the suitability of any recommendation for a specific customer, but also, they must have reasonable grounds for determining appropriateness in relation to understanding the possible rewards and risks.

Quantitative suitability should also be at play. This means that any recommendation made is appropriate for the customer, not just as a one-off recommendation, but when assessed in totality, given their investor profile.

Why Hire A Chicago Unsuitability Law Firm?

The Shepherd Smith Edwards and Kantas Chicago Unsuitability Law Firm can help you evaluate whether you were the victim of unsuitability by your broker and if it makes sense to file a claim. We have been representing Illinois investors for more than 30 years. More than 90% of our clients have secured full or partial financial recovery.

We are well-versed in Illinois securities laws, as well as FINRA rules and SEC regulations. Whether your broker is a Chicago financial advisor or based elsewhere in the United States, our unsuitability attorneys have over a century’s worth of collective experience in securities law and the securities industry. We know how to maximize an investor’s chances for financial recovery, whether in arbitration, mediation, or litigation.

Contact Our Chicago Unsuitability Law Firm Today:

Our Illinois securities law firm has the resources and experience to take on even the most complex investment loss recovery claims. We provide quality representation and personalized attention.

In the Chicago Metropolitan area and the rest of Cook County, as well in DuPage County, Will County, Lake County, Kane County, Winnebago County, McHenry County, and all over Illinois, call (312) 462-4176 or (800) 259-9010. You can also fill out this online form to schedule your free, initial case consultation.

Our Chicago Unsuitability Law Firm

141 W Jackson Blvd #3550A
Chicago, IL 60604