Is the equity in your home or farm your retirement nest egg?

Is the equity in your home or farm your retirement nest egg? Has a financial advisor convinced you to use that nest egg to borrow money to invest in the stock market? Did that advisor promise you would make a large profit? Did that advisor say that your investment would be protected from losses by a “system” that can predict market trends?

Your financial advisor has a legal responsibility to offer you professional service and honest advice. If that advisor promised you sure-fire returns and protection from losses, you did not get that quality of service, and you were not told the truth.

The truth is stock markets don’t always go up each year, and may go below water for years on end. The truth is what you pay to cover the interest on your loan may end up being more than what you receive on the investment you make with that loan.

The truth is financial advisors usually charge a fee of 5% on the money you invest, and that fee also comes from the money you borrow to invest on their advice and often, the fee will be hidden in monthly charges from the mutual fund company. The truth is there is no “system” that is sure to work, and anyone claiming to have one may be breaking securities laws.

You have a legal right to receive competent advice and truthful information from your financial advisor.If you think you have suffered a financial loss through borrowing or through a trend-spotting scheme, or due to incompetent financial advice, please complete and submit online form to us online. A member of our team of senior lawyers experienced in financial loss recovery will review it and contact you to discuss your case without obligation.