Broker Malpractice: Failure to Disclose Risk
Working with a financial broker is one of the best ways to make sure you choose the right investment. While you can do a great deal of research on your own, a good broker has access to information and products that the average person just can’t find. If your broker works with you correctly, you’ll both profit. Unfortunately, though, some brokers don’t take their fiduciary duties to their clients seriously. In these cases, the broker can cause a significant amount of financial harm.
When your broker fails to disclose risk, he or she is not just putting you in a financially risky situation. In many cases, a broker fails to disclose a risk because the riskier investment has the potential to make a bigger profit for the broker. In these cases, the broker is breaking his primary duty to you and instead seeking to profit off of an investment that could have major financial repercussions for you. It’s important that such brokers are held accountable legally. Holding them accountable for their negligent or unethical activities can show others in the field that taking advantage of clients is something that must not be done.
If your broker has taken advantage of your trust, it’s important that you reach out to an attorney. A good lawyer who is experienced in dealing with such malpractice cases may well take your case before the court and help you recoup the money you lost due to your broker’s greed. He or she can also help to make sure that the broker is suitably punished and that he or she will not be able to take advantage of others again. Working with an attorney is the best way to make sure that you get what you deserve after the harm your broker has committed.
If a broker who misled you as to the risk of your investments has harmed you, make sure to get help today. Florida professional malpractice attorneys at our Law Firm are here to walk you through the process of what to do next. Remember, your broker owes you a duty – and when he or she fails in that duty, it is his or her job to make things right.