losing a ton from bad investments given by your financial advisors.. .

Reply #7

MaximumMillions — Tue, 28 Jul 2015 15:43:08 GMT

If he invested the funds on my terms and it just didn't take - no.

If he did unauthorized things or misused my funds or I found out he was churning my stock to generate fees then yes.

Reply #6

KY Floyd — Tue, 28 Jul 2015 05:10:16 GMT

There's a huge difference between lousy advice and fraud. You can sue your financial advisors because you only got a 5% ROI instead of 10%, but you're not going to win. In the case you're referring to I doubt a jury will believe the advisors just gave him bad advice. My recollection is that what they (allegedly) did goes far beyond incompetence or poor judgment. Of course they had a client who wasn't the sharpest tool in a box of feather dusters.

Reply #5

mypiemaster — Mon, 27 Jul 2015 21:08:15 GMT

If he/she is cooking the books and falsifying information. If not, it's time to part ways amicably. This stuff happens a lot more than people realize.

Reply #4

zinniagirl — Mon, 27 Jul 2015 20:35:16 GMT

If you choose to turn a blnd eye on your investments, no research, you are to blame! Having been a victim of the 1980's savings and loan debocale, I learned my lesson.

Reply #3

music* — Mon, 27 Jul 2015 20:33:06 GMT

If my memory serves me then I believe that my Uncles sued a bank that had invested my Grandmother's money and then lost a major part of it. If it was not a bank then it was an investment business. Anyway , they got most of it back. This happened in the late 1980's.

Reply #2

noise-gate — Mon, 27 Jul 2015 19:55:46 GMT

True- but if memory serves me correctly: There was a jackpot winner who took his advisors to court within the last year or so over bad real Estate advice where he was pumping millions into a worthless deal. His the guy who supposedly jyped his buddy out of a share of the JP.Some on LP were saying Kharma ..

Reply #1

bigbear29 — Mon, 27 Jul 2015 18:49:16 GMT

No, it is still up to you to watch your investments. Look at some of the hollywood stars or Pro athletes that have lost all or some of their money. Example: New York investment adviser Bernard Madoff serving 150 years for investment advisor fraud. Watch your money, look at your statements every month.

losing a ton from bad investments given by your financial advisors.. .

noise-gate — Mon, 27 Jul 2015 18:35:33 GMT

If you won say $10 mil but lost $3 mil on bad investments- Would you take your advisors to court or just chalk it up as lousy luck on your part?

* Have a Great Week People:- Stay Healthy while you at it.