Florida Unsuitability Law Firm

Our Florida Unsuitability Law Firm Has Been Fighting for Investors For Over 30 Years

The Shepherd Smith Edwards and Kantas Florida Unsuitability Law Firm (investorlawyers.com) represents Florida investors who sustained losses because of unsuitable investment recommendations by their brokerage firm or investment adviser. Contact our Tampa, FL unsuitability attorneys today so that we can help you explore your legal options.

Unsuitability Is One Of The Most Common Reasons For Florida Investor Losses 

Many of the investors we represent sustained investment losses because their financial advisor made a recommendation—such as a financial product, an investing strategy, or a trade— that was inappropriate. A recommendation by a broker or investment adviser is unsuitable if it is not the right one for a specific customer given their age, risk tolerance level, tax status, liquidity needs, investing experience, financial goals, the makeup of the rest of their portfolio, and other key factors.

Broker-dealers and investment advisers are supposed to conduct the proper due diligence to ensure suitability before marketing and selling anything to a customer. This includes conducting the proper research into the investment, transaction, or strategy and ensuring nothing fraudulent is taking place. Sometimes broker-dealers will knowingly make an inappropriate recommendation because it will earn them higher commissions and fees.

FINRA Rule 2111 notes three primarily suitability obligations for broker-dealers and associated persons:

Reasonable-basis suitability: The broker has to have reasonable grounds for believing that the recommendation is suitable for at least some investors after performing reasonable due diligence.

Customer-specific suitability: Taking into account a customer’s investing profile, the broker must have reasonable grounds for thinking that the recommendation is suitable for a particular client.

Quantitative suitability: A broker must have reasonable grounds for believing that the series of transactions they are recommending is not excessive for a customer even if otherwise suitable when looked at in isolation.

Florida Retirees and Unsuitable Investment Recommendations

With 40% of its population over the age of 50 and over 20% over the age of 65, Florida is the number one US state for retirees. While there are many wealthy seniors living in The Sunshine State there are also retail retirees residing there. Our Tampa unsuitability investors understand the unique risks and devastating consequences that can occur when older investors, especially ones with cognitive disabilities and other serious health issues, fall victim to inappropriate recommendations that can lead to life-altering investment losses. We represent retirees and their families in recouping the damages they suffered because of broker misconduct, financial advisor negligence, and investment fraud.

How Can Our Florida Unsuitability Attorneys Help?

During your free, initial case consultation with one of our Tampa unsuitability attorneys, we can help you explore your legal options. We can also assess the cause of your losses and whether you should sue your broker-dealer for your unsuitability-related losses.

You should know that not all investment losses warrant grounds for a lawsuit. There may be no wrongdoing involved at all.

However, with more than a combined over a century’s worth of experience in securities law and the securities industry, our team of savvy securities attorneys, seasoned paralegals, knowledgeable consultants, and other key members have been able to identify unsuitability, fraud, or negligence when examining account records that otherwise might have gone unnoticed.

To determine whether it is worth your time to file a claim, our trusted unsuitability attorneys will look at a number of key areas. This could include any prior investing experience on your part, your financial goals, any information that your broker gave you, the activity in your account, what happened to your investments, and the total losses you sustained.

Your cooperation is key to the success of your case. Actively researching and gathering information about your losses, including keeping track of pertinent records and communications with your broker, can lead to important evidence. We also strongly encourage you to not try to resolve this case directly with your broker-dealer.

Many firms are more likely to dispute or deny your claim, which could harm your unsuitability case in the long run. It is one of the many reasons why hiring a respected Florida unsuitability law firm would be to your benefit.

Contact our Dedicated Tampa, FL unsuitability attorneys:

For over 30 years, Shepherd Smith Edwards and Kantas has been exclusively fighting for investors like you in arbitration, negotiation, mediation, and litigation. More than 90% of our clients have received full or partial financial recovery.

Call (813) 560-2992 or (800) 259-9010.

Our Florida Securities Law Office:

407 N Howard Ave #201A
Tampa, FL 33606