Articles Tagged with 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.