Arizona Broker Suitability Claim Attorney
When you hire a broker to invest your money, your broker is required to recommend suitable investments based on your age, income, liquidity needs, health, financial condition, tax situation, time horizon, financial savvy, risk tolerance and investment goals. If you do not provide this information, your broker is required to ask you. This is known as the "know your customer" rule.
At the law firm of Bade Baskin Richards, our lawyers prosecute and defend claims arising out of unsuitable investments. From our law office in the Phoenix suburb of Tempe, we serve clients in Arizona and throughout the southwestern United States. Our attorneys are admitted to practice only in Arizona, and we associate with local counsel to handle cases in other jurisdictions.
Examples of unsuitable investments due to stockbroker negligence include:
- Investing the money of an elderly person in high-risk stocks. If the investments decline in value, the customer may not have enough time to recover the money.
- Buying highly speculative investments or "private placements" when the customer does not understand the investments
- Buying illiquid investments such as real estate when the customer needs steady monthly income
- Investing retirement funds in a variable annuity
If you are accused of recommending unsuitable investments, your choice an attorney to represent you is one of the most important decisions you will make. Alan Baskin has more than 20 years of securities law experience, including seven years prosecuting these types of cases administratively, civilly and criminally, first as senior counsel in the Enforcement Section of the Securities Division of the Arizona Corporation Commission, and then as an Assistant Attorney General in the Organized Crime and Fraud Section of the Arizona Attorney General's Office. Bill Richards spent 11 years handling securities industry disputes on behalf of several large brokerage firms, and has broadened his practice to include investor representation.
For More Information About Unsuitable Investments
For more information or to schedule a consultation with Phoenix unsuitable investments attorney Alan Baskin, call 888-366-1847 or fill out the contact form on this site.
