Millions of Americans rely upon mutual funds for their retirement and other investments. These mutual funds form the backbone of a solid, well-balanced portfolio. As such, mutual fund fraud is a devastating blow to the financial wellbeing of its victims.
Part of the reason mutual fund fraud is so pernicious is that many of those invested in mutual funds don't pay attention to their investments on a daily basis- in many ways, that's the point of a mutual fund. It's not the choice for day traders. But this does mean that it can be hard to catch mutual fund fraud before it wipes you out.
Keep a close eye on your investments and look out for some of the following signs of mutual fund fraud:
- Dramatic, unexplained swings in the value of your fund
- Your broker suddenly becoming recalcitrant and reluctant to talk
- Unauthorized changes to your fund
- Recommendations to unusually concentrate investments
Many investors are reluctant to get too deep into the weeds of their mutual funds. They simply trust their financial advisors to do the right thing. This is understandable, but you need to be pro-actively involved in your investments. Doing so can protect the value of your mutual fund investments.
If you've been the victim of mutual fund fraud and need an experienced attorney to help you pursue compensation, please call Colling, Gilbert, Wright & Carter today at 1-407-712-7300 for a free consultation.