Why You Should Contact A Seasoned Retirement Loss Attorney Right Away
Unfortunately, retirees and older investors are especially vulnerable to significant investment losses. This is why it is so important that your broker only markets products or investment strategies to you that are suitable for you given your investing profile, risk tolerance level, financial goals, age, and other criteria. Yet that does not always happen. Some of the investments and products that have been the largest cause of investor losses in recent years were backed by retirees and seniors who would have never gotten involved in them were it not for the unsuitable recommendation of their brokerage firm and financial advisor. Here are a few examples:
- GWG Holdings L Bonds
- Northstar Financial Services (Bermuda)
- Skyloft Austin
- NorthStar Healthcare REIT
- HIT REIT
- GPB Capital Holdings
- NorthStar Healthcare Income REIT
This is broker negligence, which may be grounds for a Financial Industry Regulatory Authority (FINRA) arbitration case against the firm so that you can pursue damages.
If you are an older investor and you have suffered significant losses in products that your broker misrepresented to you as low risk and safe, contact our experienced retirement investment losses attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) right away. If necessary, we can connect you with one of our investment loss attorneys and provide you with guidance on what steps you can immediately take to stop your financial advisor from continuing to cause you to lose more of your hard-earned savings.
Why A Broker Might Risk a Retiree’s Life Savings on a Risky Investment
Sometimes the reason is ignorance or negligence. Or, a financial advisor might be more concerned about earning high commissions and fees from selling a retiree a risky, illiquid alternative investment rather than looking out for a customer’s best interests. Some brokers may even be purposely seeking to defraud their older clients. Regardless of the reason, it is never acceptable and financial losses may result.
Most retirees and elderly investors have stopped making an income. They are relying on their savings and their investments to sustain them for the rest of their lives. When they become the victim of securities fraud or negligence that was caused by their broker—someone they trusted to help them take care of their future—the emotional and financial toll can be devastating. This is why, when warranted, you can go after the brokerage firm responsible and pursue damages. An investment loss attorney at SSEK Law Firm can help you with this.
4 Ways A Broker May Deplete Your Retirement Savings
- Overconcentrating your money on too much of one investment while failing to diversify your portfolio.
- Recommending products that are high-risk even though you are an inexperienced, conservative investor.
- Excessively trading in your account to earn more commissions even as you are forced to pay additional fees.
- Even while knowing you have serious health issues, persuading you to invest in illiquid, speculative investments.
Is It Worth Your Time To Explore Your Legal Options?
Absolutely. Our knowledgeable investment fraud law firm has been helping retirees and seniors for over 30 years. Through FINRA arbitration, litigation, and mediation, our investment loss lawyers have recovered many millions of dollars for clients.
Not only is it essential that you know and understand all of your legal options, but also you want to work with skilled securities lawyers and investment loss lawyers who have your back, will protect your rights, and know how to build a viable claim for you that will maximize your chances for a full financial recovery.
How To Contact Our Savvy Retirement Loss Attorneys
For the help of an investment loss lawyer, call SSEK Law Firm at (800) 259-9010 or reach out to us online.