No Recovery, No Fee

424-835-5733 | 310-525-3516

You may have lost money in your investment portfolio,
due to mismanagement and not even know it.

Did your investment advisor abuse your trust?

If you are like many other California residents who worked diligently to rebuild your portfolio after the Great Recession, you probably had to give your investment advisor a certain measure of trust. Perhaps everything went well for a while, but then you began to notice problems.

Now, you wonder if your advisor abused your trust. It's possible that your investment advisor breached the fiduciary duty he or she owed to you, and you lost a significant amount of money because of it.

What exactly can an investment advisor do?

As an investment advisor, he or she can help you make financial decisions for the following purposes:

  • Investment strategies
  • Retirement planning
  • College savings
  • Portfolio and asset management

In exchange, he or she can charge you a percentage of your assets or hourly fees. In the alternative, the advisor may simply take a commission from the trades made on your behalf.

What is the fiduciary duty?

Under the Investment Advisors Act of 1940, your advisor's primary responsibility is to subordinate his or her interests to yours. Your advisor owes you a duty of care and loyalty, which includes doing the following on your behalf:

  • Put your interests first
  • Avoid conflicts of interest
  • Gather accurate and complete information
  • Make efficient trades
  • Make the best trades possible

California and the Securities and Exchange Commission take this duty to you seriously. Violations of this duty by an advisor demand a quick and appropriate response.

What can you do?

If you believe that your advisor breached his or her fiduciary duty to you, the first step may be to determine your legal rights and options. California law affords you a variety of protections under these circumstances. Of course, you will need to gather the appropriate evidence of the breach as well.

A determination of the facts surrounding the breach and your financial losses often requires investigation. If the evidence warrants further action, the better your documentation is, the greater the chance that your investment advisor will be held accountable for his or her actions. You may want to try to resolve the issue without the need for litigation, but that does not mean that you shouldn't prepare for the possibility of taking your claim to court.

More than likely, your advisor will seek out legal representation when hearing about your claims. You also have the right to have a legal advocate represent you and help you obtain the justice and compensation to which you may be entitled.

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The Law Offices of Marc I. Zussman
433 N. Camden Drive
Suite 730 
Beverly Hills, CA 90210       
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