Law Firm

Seniors, who frequently are on fixed incomes and depend heavily on investments, can become targets for aggressive money managers promising higher returns through alternative investments. “Investors should be very wary of aggressive financial advisors who promise stellar returns on investments, while pushing high-fee financial products where commissions and excessive trading can eventually drain a portfolio,” Mr. Tepper advises. If a broker does not tell you the full story, gives false information or recommends something that isn’t right for you, then that could be misconduct. As a consumer, be alert for and recognize “red flags,” such as unexpected losses in your account. Ask your broker how he or she is compensated, and what are the costs and risks associated with your broker’s recommendations.