Watch Out for Brokers Looking to Make High Commissions During COVID-19
With the market crashing in the wake of the Coronavirus (COVID-19), many investors are suffering from massive losses in their portfolio and are looking to their brokers for investment advice.
Unfortunately, not all stockbrokers work with their customers’ best interests at heart, breaching their fiduciary duty in the process. There are also unscrupulous registered representatives who may even seek to take advantage of these hard times and try to persuade investors to buy into risky investments that charge high commissions. Such fraudulent and negligent behavior will lead to even more investment losses and ultimately, acts of stockbroker misconduct.