Financial advisors who mislead investors may be breaking the law. Many financial advisors (and that includes stockbrokers, mutual fund managers and insurance agents) may promise you sure-fire profits on investments you make on their advice, and tried-and-true “systems” that will protect you from losses by predicting market trends. They may also advise you to use the equity in your home, business, farm or some other asset to secure a loan for them to invest on your behalf, again with promises and guarantees. These advisors are acting unethically, irresponsibly and unprofessionally.
Financial advisors can’t outplay, outsmart or outperform the market without taking undue risk. Despite their best sales pitches, they are not experts on how to gamble with your money. But that’s just what many of them will do. And, while their fees are secure, all too often they leave clients with failed investments and shattered financial dreams.
In short, when your investments fail, your financial advisor is free to head off to greener pastures, with a pocket full of fees, while your life is in turmoil and your financial security is in tatters.
If you feel your financial advisor led you astray with false promises, contact us. We can review what you were promised and what was delivered to see if you have a legal cause for compensation.