Ft. Lauderdale, FL. Advice for Aging Investors and their children from the Mark A. Tepper Law Firm
The Mark A. Tepper Law firm has issued a crucial reminder to investors, particularly those caring for aging parents, to be vigilant about warning signs like unusual activity in brokerage accounts.
Are you caring for aging parents?
If so, it’s essential to pay attention to their brokerage accounts. Attorney Mark A. Tepper, who represents victims of broker fraud, emphasizes the need to stay vigilant amid the emotional challenges of caring for aging parents.
Bloomberg recently reported on a case against J. P. Morgan Bank which managed the $50 million fortune of an elderly investor. The elderly investor allegedly had dementia, Regardless, J.P. Morgan allegedly loaded up his portfolio with MLPs (Master Limited Partnerships) and other complex investments like currency swaps.
JP Morgan’s alleged defense is that the investor wanted or acquiesced to the transactions. This is not a valid defense to unsuitable recommendations. With securities, the rule is seller beware, not buyer beware.
If you have an elderly parent and you think that their broker or banker is making unsuitable recommendations or encouraging margin loans, you may have a claim. Red flags to look for include margin loans, multiple transactions, investments in alternative investments like MLPs, REITs and non-traded securities.
The Mark A. Tepper law firm has been recovering losses for investors for more than thirty years and can help you determine whether you can recover your investment loss. We offer a no-cost initial investigation and work on a contingency fee basis if we take your case. For help, please call Mark A. Tepper at (954) 704-2310 or email askmark@marktepper.com to contact our law firm.