Are You An Older Investor Whose Broker Failed to Protect You From Investment Fraud?
Our Knowledgeable Elder Financial Abuse Attorneys Represent Senior and Elderly Retirees In Pursuing Damages
According to a new study by the FINRA Investor Education Foundation and Rush University Medical Center, seniors are more vulnerable than previously thought to financial scammers pretending they belong to a bogus government agency. Out of 644 older adults in the Chicago area with an average age of 85.6, 16.4% of them took part “without skepticism” in live calls and emails between October and December 2021. Almost 75% of them gave out their personal information, including the last four numbers of their Social Security ID.
The study was recently published online in JAMA Network. FINRA research director and study co-author Gary Mottola notes that the findings show strong evidence that many more elderly investors, including those who don’t have cognitive impairments, may be at risk of becoming the victim of an investment scam.
Signs of elder financial abuse.
Shepherd Smith Edwards and Kantas (investorlawyers.com) represent senior investors who suffered losses because of elder financial abuse. Even if your financial advisor inadvertently involved you in a Ponzi scam or another type of investment fraud, you still may be able to hold them liable for failing to conduct the proper due diligence so they could have better protected you and your assets.
Why Hire Our Seasoned Elder Financial Abuse Lawyer Team?
Many of our clients are retirees and senior investors whose brokers engaged in unsuitability, misrepresentations and omissions, concentration, and, in some cases, outright financial advisor fraud. Unfortunately, there are rogue brokers who will seek to take advantage of an older investor’s cognitive impairments or other health issues and try to misappropriate their life savings. There are also other elderly investors without health issues who just want a safe haven for their money and who suffered losses to their retirement funds because of broker negligence.
Stockbroker fraud can lead to serious, life-altering financial losses for older investors and their families. Many seniors are no longer bringing in a regular income and had hoped to use their savings to cover medical costs and regular living expenses.
How To Contact Us:
Our trusted Elder Financial Abuse Lawyer Team have been fighting for senior investors for over 30 years. We understand the serious nature of your portfolio losses and we are here to protect your legal right to financial recovery while representing you.
Call (800) 259-9010 today to request your free, no-obligation case consultation. We work with elderly investors and their families all over the United States. Should you retain our legal services, you can count on quality securities law representation and personalized attention.