When Can You Hold Your Broker-Dealer Accountable for Investor Losses Caused by Unsuitability?
Longtime Merrill Lynch Financial Advisor William King Resigns Following Allegations of Broker Misconduct
Vero Beach, Florida broker William Worthen King has reportedly voluntarily resigned after 37 years as a Merrill Lynch registered representative. The move comes following multiple allegations by his clients that he engaged in unsuitable investment recommendations and unauthorized trading.
King has 18 disclosures on his CRD. All of them are customer disputes making similar allegations of broker misconduct. A number of them remain pending.
If you are someone who suffered losses while working with Merrill Lynch broker William King, contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today so that we can help you explore your legal options. You can reach our Florida brokerage firm negligence attorneys at (813) 560-2992.
Should Merrill Lynch Be Held Liable For The Actions of Their Stockbrokers?
Not all investment losses are due to broker negligence or misconduct. However, when the wrongful actions or carelessness by your financial advisor does play a role, you may be able to sue the brokerage firm where they were a registered representative.
Broker-dealers have a duty to properly oversee their stockbrokers, including their activities in customer accounts. They are also supposed to identify red flags indicating possible wrongdoing and put a stop to any suspect or negligent actions. When failure to supervise enables broker misconduct that leads to investor losses, a customer who was harmed may be able to file a FINRA lawsuit.
Pursuing damages from a broker-dealer is not easy, which is why you need savvy broker negligence attorneys representing you. For over 30 years, our trusted securities law firm has represented investors in arbitration, mediation, and litigation. Our efforts have collectively resulted in many millions of dollars recovered for thousands.
What Is Unsuitability?
One of the most common grounds cited for a broker negligence claim is unsuitability. This is a type of misconduct that involves a financial advisor recommending a financial product or investing strategy that is not appropriate for a customer given their risk tolerance level, financial goals, age, investing experience, current finances and needs, and other criteria.
Even if your broker did not purposely intend to make an unsuitable investment recommendation, if you ended up buying a financial product or security that was too risky for you or not in line with your investing goals and you sustained significant losses, you may be able to hold them liable.
How To Contact Our Skilled Unsuitability Loss Lawyers