|Planning for retirement, especially for the elderly, is among the most legally protected type of investing. Recommendations by brokers and financial advisors made to elderly and retired investors, or to those planning for retirement are given the highest scrutiny. They are typically bound by the strongest requirements to diversify, for suitability, and compliance with the fiduciary duty. Retirement account losses generally should not happen by significant measure, as planning for retirement is intended to diversify to protect against significant investment losses.
It is difficult for many retirees to believe an investment advisor or broker they like has committed fraud. However, there are many types of violations, and it is important to find an elder abuse financial fraud attorney you trust to help assess your situation and discus your options. A broker may recommend an investment and be unaware of his investment firm’s failure to do due diligence on an investment. Unfortunately, some brokers also engage in unauthorized trading resulting in significant immediate financial losses, or make bad recommendations that may not result in losses for years, until a shift in market forces, or a hidden defect of the investment reveals itself.
If you have significant losses, contact Attorney Daniel A. Bakondi, Esq. today for an assessment of your options and investment loss recovery strategies.
Attorney Daniel A. Bakondi, Esq.
The Law Office of Daniel Bakondi
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