The FINRA’s suitability rules are intended to protect investors against unnecessary risks that may be good for their broker, but are not good for their investment profile. These rules are at the heart of the expanded fiduciary duties recently proposed by the Department of Labor.
Currently, firms are required to gather information about a customer, his or her investment profile, financial experience, tax profile, and similarly pertinent information to ensure sound investment advice is provided. Failure to gather this information or willfully ignoring it may entitle investors to seek damages through a lack of suitability claim. The best way to determine if you have cause to file suit is by discussing your claim with one of the experienced stock broker fraud attorneys at Colling Gilbert Wright & Carter.
With more than 80 years of combined experience, our lack of suitability attorneys are able to detect even the subtlest forms of stock broker fraud. We would be honored to meet with you free of both charge and obligation to discuss your claim and your rights, and to help you determine the most effective way to recover your damages.
To schedule a free consultation with one of our lack of suitability lawyers, please contact Colling Gilbert Wright & Carter today.