Continual Obligation
Your financial advisor is paid not only to plan the right financial strategy, but also to work with you to ensure that the strategy continues to suit your needs.
Once your advisor has established effective communication and made appropriate recommendations specific to your circumstances, you can make informed choices. Once you do so, your advisor must:
- implement your informed instructions
- keep up to date with any changes in your circumstances
- regularly review your investment products and your circumstances to ensure that the investments continue to meet your needs
- keep abreast of changes in products, investment values and market forces that might cause you to suffer avoidable losses
- inform you of the benefits and risks of holding and selling investments and purchasing more or alternative investments
- continue this process for as long as there is a client-advisor relationship
While most financial advisors properly implement the initial steps in a financial strategy, many fail to follow through with the process. We have successfully pursued financial advisors for failing to fulfill their continual obligations to clients.
If you believe your financial advisor has not fulfilled a continual obligation to you, contact us to see if you have a case.