Breach of Fiduciary Duty and Securities Malpractice Claims

Lake in the Hills Securities Malpractice Attorneys

Breach of Fiduciary Duty and Securities Malpractice Claims Lawyers in McHenry County

mchenry county breach of fiduciary duty lawyerBrokers and financial advisors have a duty to put the best interests of their clients above their own financial gain. When an investor experiences a financial loss and believes their advisor failed in this duty, legal action may be appropriate. Breach of fiduciary duty and securities malpractice claims are among the most common securities, FINRA/NASD, and consumer complaints. Whether you are pursuing action against a broker or defending against a consumer complaint, it is important to have skilled securities litigation attorneys by your side to aggressively advocate for your interests.

At Owens & Laughlin LLC, we are one of the few firms in the northern Chicago suburbs to handle securities litigation. Our attorneys have an in-depth knowledge of the intricacies of the securities industry, FINRA procedures, and similarly complex issues. We regularly handle breach of fiduciary duty claims and securities malpractice claims, Protocol on Broker-Dealer Recruiting disputes, U5 and breach of promissory note, and related legal matters. Our approach is aggressive, creative, and meticulous, and we put our extensive experience to work to give our clients the skilled representation they deserve.

Common Legal Claims Against Brokers and Wealth Advisors

Consumers frequently lodge claims of breach of fiduciary duty, securities malpractice and securities fraud against brokers and wealth advisors. These claims typically occur after investors suffer significant financial losses. Some reasons for filing a consumer complaint with FINRA include:

  • Misrepresentations, Omissions or Failure to Disclose Risk: Recommending an investment without disclosure of all relevant information or without informing the investor of the risks involved.
  • Use of High-Pressure Sales Tactics: Employing overly aggressive sales methods to compel the client to make a hasty decision about an investment. For example, creating a sense of urgency and the impression that failure to act immediately could result in a missed opportunity.
  • Unsuitable Investments: Making an investment recommendation that is not suitable for the client because it is not in keeping with the client's stated risk tolerance.
  • Churning: Encouraging a client to make an excessive number of trades in order to generate additional broker commissions.
  • Unauthorized Trading: Making trades without the permission of the client or in violation of financial regulatory transaction procedures.
  • Failure to Supervise Brokers: Firms may be guilty of securities malpractice if they did not properly supervise brokers, particularly if the broker has a prior record of fraud or other forms of misconduct.

When wealth advisors do not fulfill their duties to act in the best interests of their clients, FINRA consumer complaints can ensue. If you need skilled guidance pursuing or defending a breach of fiduciary duty or securities malpractice claim, contact our office today at 847-854-8700 or 847-752-8537 for a personalized consultation with one of our seasoned securities litigation attorneys.

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