Financial advisors are highly trusted professionals who help make decisions that impact your economic future. You trust them with your hard-earned money, your savings, and your retirement. But the guidance and advice they offer can shape your financial life for decades, which is why their misconduct hits so hard.
When that trust is broken through a bad or negligent act, the investor suffers, and the financial advisor must be held accountable.
En el peor de los casos, se preguntará si un asesor financiero puede robarle su dinero.
¿Pueden robarle su dinero los asesores financieros?
Yes, an unethical financial advisor can be in a position to steal money from you, especially if you have given them direct access to your investment account. This applies if you’re working with an independent financial advisor or even one tied to a larger company.
Stealing from a client is a federal crime. Financial advisors who take your money without authorization can face charges under securities fraud laws, wire fraud statutes, and the Investment Advisers Act of 1940.
Because of this, a vast majority of reputable financial advisors never take ownership of your money to protect your best financial interests.
But if this happens to you, you can file a complaint with the SEC, report the advisor to FINRA, or go through arbitration to recover what you lost. Some cases even qualify for civil lawsuits where you can recover more than just the stolen amount.
¿Necesita ayuda legal? Hablemos.or, give us a ring at 833-300-6983.
Se recomienda mantener siempre el control sobre sus inversiones y no dar nunca a ningún asesor financiero plena discreción sobre sus cuentas.
Dar a un asesor acceso directo le permite robar dinero con facilidad. Evita hacerlo a menos que confíes al 100% en la persona con la que estás tratando.
Note: If you believe your financial advisor stole your money, we recommend speaking with an experienced investment fraud lawyer to learn more about your rights and how you may recover your losses
What to do if You Believe Your Financial Advisor is Stealing Your Money
If you’re worried your financial advisor is stealing from you, act fast to get better chances of recovering your money.
Here’s what to do:
- Pull your account statements, emails, and any transaction records you have access to.
- Freeze or transfer your accounts immediately.
- File a complaint with FINRA and the SEC.
- Contact your advisor directly in writing, then talk to a securities attorney.
What is Fiduciary Duty?
All financial advisors are held to a standard of care when dealing with investors. Registered financial advisors have a higher fiduciary duty to their clients under the Investment Advisers Act of 1940.
This is the highest legal standard of care and requires financial advisors to act in the best interest of their clients, make suitable investment decisions, and disclose relevant information to you. This covers everything from financial planning and retirement planning to tax planning and investment management. Your advisor is supposed to manage your portfolio on your behalf in line with your financial goals and recommend an investment strategy that fits your situation.
Knowing whether your financial advisor is registered with the U.S. Securities and Exchange Commission (SEC) or a state securities regulator is important because if the advisor breaches the fiduciary duty, you can bring a claim against the financial advisor through the Financial Industry Regulatory Authority (FINRA).
La FINRA es la organización rectora que crea y hace cumplir las normas para los asesores y sus empresas y ayuda a resolver los conflictos entre asesores e inversores.
¿Tiene derecho a reclamar?
Si su asesor financiero ha robado dinero de su cuenta, se trata de un robo. Estos casos implican un acto intencionado de su asesor financiero, como transferir dinero de su cuenta. Sin embargo, su asesor financiero también podría estar robándole si sus acciones u omisiones le causan pérdidas económicas.
Many investors lose money through bad markets, and that alone isn’t enough to file a claim. Remember, there is no guarantee of return when investing.
Even if your financial advisor made the recommendation and promised positive returns, under federal securities law and FINRA regulations, you cannot hold your advisor liable simply because they lost you money. You need a viable cause of action, such as a breach of fiduciary duty, negligence, or malpractice.
¿Pérdidas de inversión? Podemos ayudarle
Discuta sus opciones legales con un abogado de The Law Offices of Robert Wayne Pearce, P.A.
o llámenos al (800) 732-2889.
Tipos de reclamaciones contra su asesor financiero
Understanding securities law and FINRA regulations is important to knowing whether you have a valid claim against your financial advisor.
The investment loss recovery attorneys at The Law Offices of Robert Wayne Pearce P.A. have over 45 years of experience in securities and investment law. They have helped countless investors recover their financial losses caused by bad or negligent acts by their financial advisors.
Negligencia
En una reclamación por negligencia, no es necesario demostrar que el asesor financiero actuó intencionadamente de forma perjudicial, sino que el asesor no hizo algo que tenía la obligación de hacer y causó la pérdida económica.
Por ejemplo, su asesor puede haber realizado una inversión inadecuada al no tener en cuenta su tolerancia al riesgo. Si perdió dinero basándose en la inversión recomendada, puede ser apropiado presentar una reclamación por negligencia contra su asesor financiero.
Incumplimiento del deber fiduciario
A financial advisor who breaches his fiduciary duty has failed to meet the required standard of care. You may have a valid claim for breach of fiduciary duty if your advisor failed to execute your stated objectives or did not disclose information about a product. Your broker dealer can also be held liable if they failed to catch or stop the misconduct.
Otros ejemplos de incumplimiento del deber fiduciario son:
En cada uno de estos casos, el asesor financiero no actuó en su mejor interés.
Falta de supervisión
Una empresa de corretaje es responsable de supervisar las acciones de sus asesores financieros y de cualquier otro empleado. Si la empresa no lo hace, puede ser considerada responsable de sus pérdidas financieras.
Warning Signs of Financial Advisor Misconduct
There are several warning signs that your advisor may not be acting in your best interest. Watch out for these red flags:
- You can’t access your account statements. If your advisor delays, deflects, or gives vague answers when you ask for records, that’s a problem.
- Your returns don’t match the market. Consistently high returns with zero risk are a classic sign of a Ponzi scheme.
- They pressure you into quick decisions. Legitimate advisors give you time to think. Rushing you is a tactic to skip your due diligence.
- You notice unauthorized transactions. Any trade or withdrawal you didn’t approve is a serious red flag.
- They ask you to write checks in their name. Your money should go to a custodian, never directly to your advisor.
- They avoid putting things in writing. If calls and meetings never result in documented follow-up, be cautious.
- Your account is churning. Excessive, frequent trades can mean your advisor is generating commissions at your expense.
- Their fees don’t add up. Whether they charge a flat fee or take a percentage, their compensation structure should be transparent.
- They push unnecessary products. If they keep pushing you to move money across your retirement accounts or change your investment management setup without a clear reason tied to your financial goals, be suspicious.
What You Can Do if You’ve Been the Victim of Fraud
There are several stages of resolution to recover your financial losses. Depending on your case, you may be able to pursue damages beyond just the stolen amount. Keep in mind that legal fees can add up fast in litigation, which is why mediation and arbitration often cost less and take less time.
The attorneys at The Law Offices of Robert Wayne Pearce P.A. have helped investors in all stages and have successfully recovered over $175 million in losses for our clients. Contact us today so we can help you with your situation.
Revisar el acuerdo con el cliente
Si cree que su asesor financiero le ha robado dinero, ya sea directa o indirectamente a través de pérdidas en su cuenta, debe revisar primero su contrato de cliente. Comprenda qué tipo de autoridad le dio a su asesor financiero y si existe una cláusula de arbitraje obligatoria.
Esta cláusula es común en la mayoría de los acuerdos de los clientes con las empresas de corretaje. Estas cláusulas suelen indicar que usted renuncia a su derecho a presentar una demanda contra su asesor y acepta participar en un procedimiento de arbitraje de la FINRA en su lugar.
What Should You Do Immediately If You Suspect a Financial Advisor Stole Money?
What you should do immediately if you suspect a financial advisor stole money is to secure the account and create a paper trail before you argue the claim in arbitration or court. At the Law Offices of Robert Wayne Pearce, P.A., we have seen fast action reduce further losses because theft often happens through repeated disbursements, new payees, or changed login credentials.
First, call the firm’s compliance department to place account restrictions, revoke any trading or money-movement authority, and demand written confirmation of every recent wire, ACH, check, or journal transfer. A disbursement is the movement of client funds, and a temporary disbursement hold is a firm-level pause used when exploitation is suspected, especially for older or vulnerable investors.
Next, verify who you were really dealing with: BrokerCheck is a public background tool for brokers and firms, and the SEC’s IAPD is a public database for registered investment advisors. Document requests, screenshots, statements, and communications because evidence equals leverage when you later prove conversion, unauthorized activity, breach of fiduciary duty, or failure to supervise.
Resolución informal de litigios
Las reclamaciones contra los asesores financieros son asuntos jurídicos increíblemente complejos. Sin embargo, hay opciones informales disponibles. Incluso en esta fase, debería ponerse en contacto con un abogado especializado en recuperación de pérdidas de inversores para que le ayude. La FINRA, que regula la industria de la inversión, instruye a los inversores para que primero busquen soluciones informales a los conflictos antes de presentar una reclamación contra su asesor financiero.
Dependiendo de la gravedad de la mala conducta del asesor financiero, es posible que pueda resolver el asunto directamente con su asesor o con el departamento de cumplimiento de la empresa. Si esto no es adecuado o no llega a una resolución, la siguiente etapa es participar en una mediación voluntaria y no vinculante.
Mediación FINRA
La mediación es un proceso voluntario en el que interviene un tercero neutral que ayuda a alcanzar una solución de mutuo acuerdo. La FINRA ofrece un foro de mediación para asesores e inversores.
Esta opción es más rápida y menos costosa que el arbitraje y el litigio. Cuatro de cada cinco casos mediados por la FINRA se resuelven. Si no consigue llegar a una solución satisfactoria a través de la mediación, sigue teniendo derecho a arbitrar o litigar.
Arbitraje FINRA
El arbitraje se asemeja más a un procedimiento legal tradicional, ya que una parte imparcial o un panel escucha los argumentos de ambas partes, analiza los hechos y las pruebas y toma una decisión final y vinculante.
If you choose arbitration or are required to arbitrate under your customer agreement, you forfeit your right to file a lawsuit. Courts of law can review an arbitration award for fairness, but typically, they will not overturn an award.
There is a statute of limitations to bring a claim against your financial advisor. Under FINRA Rule 12206, you have six years from the time of the financial advisor’s act to take action. However, Florida has a four-year statute of limitations for negligence claims. Contact an experienced investor loss recovery attorney who has experience in your area (Florida, Texas, etc.) as soon as you suspect that your advisor has caused you financial loss.
Presentar una demanda
Si no existe una cláusula de arbitraje obligatorio en su contrato de cliente, puede presentar una demanda en los tribunales contra su asesor financiero. Esta es una opción larga y costosa. Hable con nuestros abogados especializados en fraudes a inversores para sopesar los pros y los contras de la mediación, el arbitraje y el litigio.
Cómo las oficinas de la ley de Robert Wayne Pearce puede ayudar
Estamos aquí para proteger sus derechos como inversor. Si su asesor financiero le robó su dinero o le hizo perder dinero por negligencia o mala conducta, podemos ayudarle a recuperarlo.
For over 45 years, the attorneys at The Law Offices of Robert Wayne Pearce have helped hundreds of investors navigate FINRA mediation and arbitration proceedings.
We know the laws, rules, and regulations for bringing a successful claim against a financial advisor for investors’ financial losses. Contact us or call 561-556-2927 or toll-free at 866-489-9402 for a free initial consultation.
Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for over 45 years and his securities law firm focuses primarily on helping investors recover losses from investment fraud while also defending financial professionals in regulatory actions and employment disputes within the securities industry. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.
