Oregon Elder Financial Abuse Attorneys are Fighting For The Victims of Senior Investor Fraud and Their Loved Ones Throughout The Beaver State
Shepherd Smith Edwards and Kantas (investorlawyers.com) represents older Oregon investors who have suffered losses because of the fraudulent or negligent conduct of brokers and investment advisers. If you suspect that you or a loved one are the victim of this type of exploitation, contact our Portland, OR elder financial abuse law office today to request your free, no obligation case assessment. We can help you determine whether you have grounds for a legal claim.
What Is Elder Financial Abuse?
This is what happens when someone misappropriates money from an older person. While most of the perpetrators of this type of crime tend to be a person that the victim knows or may even be related to, the financial abuse of elders is also committed by unscrupulous financial professionals.
According to the National Adult Protective Services Association (NAPSA), elder financial exploitation is a crime that collectively costs older Americans and their loved ones billions of dollars annually. That estimate, however, doesn’t cover the majority of elder financial abuse cases because they go unreported. Nor does it take into account the emotional toll or the life-altering consequences that can result.
Older investors tend to be the target of this type of crime because of the life savings they have accumulated. Also, many elderly seniors suffer from serious health issues, including Alzheimer’s, Dementia, or some other type of cognitive impairment. This can make it easier to take advantage of them.
What Is Elder Financial Abuse By A Broker or Investment Adviser?
Elder financial exploitation by a stockbroker or investment adviser is a serious breach of fiduciary duty. If the intent to defraud was on purpose, this could also warrant criminal charges. However, even a conviction won’t necessarily translate into full financial recovery for the victim. This is where our Portland, OR elder financial abuse lawyers come in.
If we determine that there is grounds for an investment loss recovery claim, and we decide to work together, Shepherd Smith Edwards and Kantas will conduct a thorough investigation into your losses, build a solid case against your financial advisor, file your claim for you, and fight for the damages that you or elderly loved is owed.
We should note that elder financial abuse by a stockbroker or investment adviser can also refer to acts of broker misconduct or negligence that don’t necessarily involve criminal intent. Those actions may end up exploiting an older investor and cause them to sustain huge investment losses.
Examples of how a broker might commit elder financial abuse include:
- Misappropriation of funds.
- Overconcentrating an elderly senior investor’s money into too risky investments.
- Excessive trading in their account.
- Unauthorized trading.
- Making withdrawals or borrowing their money without authorization or permission. (Financial advisors generally aren’t supposed to borrow funds from their clients.)
- Unsuitable investment recommendations, including promoting illiquid alternative investments that will pay the financial advisor high commissions while disregarding the customer’s best interests.
- Financial advisor negligence.
- Failure to conduct the proper due diligence to make sure they are not involving the older investor in a Ponzi scam or another type of investment scheme.
- Disregarding the fact that this senior investor may be suffering from some type of diminished mental capacity that could impair their ability to understand the kind of investment decisions to which they are agreeing.
Why Hire Our Seasoned Portland, OR Elder Financial Abuse Lawyers
For over 30 years, Shepherd Smith Edwards and Kantas has represented Oregon seniors and retirees in fighting for their financial recovery caused by exploitation by a broker or an investment adviser. We know how to recognize the signs, which can be hard to do unless you know what to look for. We have the skills, resources, and experience to go after even the largest broker-dealers and try to hold them liable.
We understand the toll this type of crime can take on elderly investors and their families. It is why we remain committed to providing not just quality securities law representation but personalized attention.
When you work with us, you won’t have just one Portland senior financial abuse attorney working on your case, you will have our entire firm representing you. Over the years, we have helped thousands of investors to collectively recover many millions of dollars in arbitration, mediation, and litigation.
How To Contact Us In Oregon:
In Multnomah County, Washington County, Marion County, Clackamas County, and throughout Oregon, call (971) 285-3075 or (800) 259-9010 or contact us online.
Our Portland Elder Financial Abuse Law Firm:
621 SW Morrison St #1050-B
Portland, OR 97205