Representing Investors Victimized By Bank Broker-Dealers
Did you suddenly learn that money you thought was protected by FDIC has been lost? Allegedly “safe” investments suddenly obliterated by a tumultuous market? Faced with fees for accessing your own money?
Many American’s are being taken advantage of by their bank. Persons with high account balances or certificates of deposits (CDs) coming due are attractive to investment companies and broker-dealers. What people do not realize is that their financial institution may be sharing information with affiliated investment companies or subsidiary brokerage firms.
Suddenly, there is a drop in the market and half your savings is lost — money you couldn’t afford to lose, and didn’t even realize was at such a risk.
Investors are often contacted by bank broker-dealers and are given the impression that their money is being transferred within the bank into a safe investment with higher yields than the typical yields provided by savings accounts, CDs or other bank investments. Unfortunately, their money is actually moving from the federally insured bank to an investment company that does not offer the same federal protection. As a result, the assets in the investment are often tied to the vagaries of an unpredictable economy and stock market.
Complete an online contact form to learn if you may be capable of recovering some or all of your investments in a misconduct claim or misrepresentation claim against your bank broker-dealer.
Misrepresentations By Bank Broker-Dealers
Unfortunately, not all investment advisors act in the best interests of their client — the investor. While they have a fiduciary duty to recommend suitable investments and thoroughly explain the benefits and risks of such investments, many bank broker-dealers sell risky and unsuitable investments to the detriment of their clients so that they can pocket the higher commission. Examples of these risky investments include:
- Variable annuities
- Preferred stock
- Structured investment products
- Inappropriate mutual funds
- Other types of bad financial products
Many of these financial products are subject to administration fees, insurance fees, access fees, and other unjustifiable fees that investors are simply not warned of. Additionally, investors are not warned of the dramatic dangers and risks of such investments.
Investments Transferred Outside of the Bank? Contact Lawyer Jeffrey A. Feldman Today.
If you have been solicited to invest in subsidiaries of your financial institution, act with caution — your money is being invested outside of the FDIC insured bank. If you have suffered losses due to the risky investments recommended by an unscrupulous bank broker-dealer, complete an online contact form for a free consultation with attorney Jeffrey A. Feldman.
Handling Securities-Related Disputes, Arbitration, and Litigation
in California and Nationwide-Call 415-413-8955
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The Law Offices of Jeffrey A. Feldman