Financial Advisor Negligence
Financial Advisor Negligence
When you go to a financial advisor for support, you undoubtedly expect them to remain wholly trustworthy and diligent in helping manage your wealth. Any missteps along the way could cost you dearly, after all, decimating your finances and sense of trust. Unfortunately, financial advisor negligence happens much more than it ever should, resulting in serious losses for their clients.
If you end up falling victim to their negligence, you can potentially recoup your losses with help from a financial negligence lawyer at Schwartz Law. You just need to give our team a call to set up a free consultation and we’ll get to work in helping resolve the matter to your satisfaction.
What is Financial Advisor Negligence?
Financial advisor negligence occurs when your trusted expert fails to properly recommend investment strategies. They may fail to do their homework before recommending investments, act too slowly in offering ongoing guidance, or stop overseeing the performance of your portfolio without any warning. The financial losses tend to pile up as a result, especially if they do not help you properly diversify your portfolio from the start.
In addition to basic negligence, financial advisors might fail to perform their duties due to misconduct and even fraud. No matter the underlying cause, you should not get left holding the bag after your financial advisor failed you. Thankfully, a financial negligence lawyer can assist in recouping your losses and making things right once again.
Elements Needed to Prove Negligence Occurred
To hold your financial advisor accountable for their negligence, your lawyer must provide proof of the four following elements.
Duty. When you signed up for financial advisor services, they agreed to help you best manage your investments. As a result, they have the duty to always keep your best interests in mind while providing their services. Their duty is not just a job to do, it’s a legal obligation that must guide their actions always.
Breach of Duty. If your financial advisor fails to uphold their legal obligation to keep your best interest in mind, they’ve committed a breach of duty. Examples of this breach include failing to provide pertinent info about an investment, ignoring the changing market conditions, and suggesting investments that benefit their own bottom line.
Causation. Causation centers around the reasons why the financial advisor failed to provide their services as described. Negligence is the likely option, although it could come down to misconduct or fraud. Proving why the breach of duty happened is key in showing the court how the advisor misled you.
Damages. To recoup your losses, it’s vital that you clearly show the court all the damages that occurred due to financial advisor negligence. Quantifying the damages can prove difficult, however, unless you have a lawyer link the losses to the breach of duty.By presenting evidence regarding these four areas, your financial advisor lawyer can help you recoup your losses in court. Their efforts also assist in holding the advisor accountable for their negligence and potentially preventing them from doing this to someone else in the future.
Get Help from a Lawyer for Your Financial Advisor Negligence Case
Did you experience serious losses due to financial advisor negligence? If so, you don’t have to try to resolve the problem on your own. Instead, reach out to our team at Schwartz Law with a call to 813-226-3372. We will review your case at a free consultation appointment and advise you on how to best proceed. With help from our Tampa financial negligence lawyers, you can potentially recoup your losses and hold the advisor accountable for their negligence.