Financial Advisor Misconduct Attorneys

Couple Sues Charles Schwab After Broker Purportedly “Chased Returns” That Led To Serious Life Savings Losses. Our Financial Advisor Misconduct Attorneys Represent Seniors and Retirees Investors Against Broker-Dealers

Two California investors are seeking up to $500K in damages from Charles Schwab & Co. over significant losses they sustained while working with the brokerage firm. While the broker-dealer is most known for offering a platform for those seeking to direct their own investment decisions and self-manage their accounts, these two older investors entrusted their money to one of the firm’s lesser-known divisions, which provides discretionary management of customer accounts.

These claimants, whom Shepherd Smith Edwards and Kantas (investorlawyers.com) are representing, contend that during the last years of working with Schwab, one of the broker-dealer’s financial advisors used a purported needlessly risky strategy that involved turning over these investors’ accounts allegedly to chase returns. In their FINRA lawsuit, our clients are claiming misrepresentations and omissions, gross mismanagement, negligence, and breach of fiduciary duty that we believe led to not just lost savings but also lost growth of said savings during a period when the markets reached all-time highs.

This California couple is accusing Charles Schwab broker Kevin Michael Bailey of unsuitably turning over their accounts too often. They claim that he even admitted to his failures and acknowledged that their accounts’ performances were the worst of any of the ones he managed. They are accusing Schwab of not properly supervising him.

 Our Broker-Dealer Negligence Lawyers Know How to Identify Financial Advisor Misconduct 

Proving stockbroker fraud can be difficult and there are many times when investor losses have nothing to do with the actions of a financial advisor and are more tied to market activity. However, broker misconduct does happen—more often than it should. Shepherd Smith Edwards has been exclusively fighting for investors against broker-dealers, including the largest ones in the US, for over 30 years. We know how to recognize the signs of financial advisor fraud.

With more than a century’s worth of combined experience in securities law and the securities industry, our team of savvy securities attorneys, legal assistants, consultants, and other key members know how to conduct a thorough investigation in your losses and build a strong case demonstrating liability. We also are well-versed in how to provide skilled legal representation in arbitration, mediation, and litigation.

Even if you are a high-net-worth individual investor, this does not mean that you are immune to becoming the victim of broker negligence. We work with retail investors, retirees, accredited investors, wealthy investors, and institutional investors in pursuing the damages they are owed.

How To Work With Our Broker Fraud Law Firm
Contact us today to schedule your free initial case assessment if you sustained portfolio losses while Charles Schwab managed your account. If we decide to work together, know that you won’t pay for our legal services unless we obtain a settlement or an award for you.

More than 90% of our clients have achieved full or partial financial recovery. That equates to thousands of investors collectively recouping many millions of dollars through our hard work and dedication.

There is no shame in asking for help. Losing your savings because of stockbroker misconduct or negligence is not your fault.

Call our Financial Advisor Misconduct Attorneys at (800) 259-9010 or contact us online.