Fort Lauderdale, Florida. Has your stockbroker set Unsuitable Account Objectives, Risk Tolerance or make changes to your Account Objectives without telling you?
If so, you may have a claim for recovery of any resulting stock losses. When investors fill out an account opening form, they are asked to check their account objectives and risk levels. In many cases, the appropriate risk level for most older investors is moderate risk and growth and/or preservation of income and capital.
In many cases, the broker will pre-fill an account opening form that marks the account for high risk or speculation because that fits the broker’s objectives, not the investor’s risk tolerance. In other words, instead of looking out for the investor’s interest, the broker is looking out for his own. In other cases, the broker makes unsuitable, high risk or speculative recommendations and then the brokerage firm changes the account objectives. If your account objectives are high risk or speculation, then that is a red flag whether changed by the broker or initially set at those levels.
If you have questions about activity in your account, your risk levels and/or are not satisfied with your broker or his explanation, then contact us for a no-cost review of your situation and circumstances. To get started, you can contact Attorney Mark A. Tepper by emailing to askmark@marktepper.com or calling him at 954-704-2310. If the claim is accepted it will be taken on a contingency basis, although you may be responsible for necessary filing and expert witness fees.