Quote:
Originally Posted by rain_e
So how responsible is an advisor? I'd gladly hire one to try and make me money and if he loses any of it I'll just sue him?
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Well it's a bit more complicated than that. But if you can show that the investment decisions were at least contrary to your needs - say you're retired and they had you leveraged for instance - then you might have some legitimate grounds to move forward.
Obviously, if there is any kind of fraud or misrepresentation or anything of that nature, well you're really rolling now.
But if your savings have been completely wiped out, there is a chance you could make headway on that fact alone, pleading to the courts with the poor me angle (though obviously you have to lose a whole lot of your savings first, so...)
At the end of the day, the court has to make a decision. And it is entirely within the realm of possibility that they make a decision that might not seem fair going in.