When You Have Been the Victim of Excessive Trading or Churning
Many investment advisors, including brokers, receive compensation every time they execute a trade in your portfolio. Whether you buy or sell a stock or bond, you may pay a commission and your broker receives compensation. Unfortunately, such a system can lead to abuse. You trust your investment advisor to manage your portfolio in a way that maximizes your value, but that trust can be broken when your broker engages in excessive trading for the purpose of generating more commissions.
Attorneys Daniel R. Whitmore and Allen A. Glass aggressively represent individuals who have suffered financial losses because of misconduct by a financial advisor or broker, including losses resulting from excessive trading (also known as "churning"). We have over 30 years of combined legal and financial experience, including time on Wall Street, with big 5 accounting firm, with the FDIC, the SEC and the Massachusetts state securities division. If you have put your trust in a financial advisor and your trust has been betrayed, we can help. Contact our office or call us at 206-329-8400 for a free initial consultation.
Helping You Recover Losses from Excessive Trading in Your Investment Account
We aggressively protect the rights of individuals who have suffered financial loss because of excessive trading. If your stockbroker has been buying or selling securities in your portfolio on a daily, weekly or monthly basis, that is most likely inappropriate for you, unless you are a savvy investor and have a strong understanding of the market.
Your broker has a fiduciary duty to act on your behalf and in your best interests. Excessive trading or churning is a breach of that fiduciary duty and also constitutes a conflict of interest, as your broker is putting his or her interest ahead of your interest.
You may have a right to recover for churning, even though you approved the trades, if your broker promised unreasonably large returns. With our extensive experience, we know how to spot patterns that constitute excessive trading. We also have the financial knowledge to show that the activity provided a significantly greater benefit to your broker than to you.
We take all claims on a contingent fee basis. We will not charge attorney fees unless we recover compensation for your losses.
To schedule a free initial consultation, contact us or call us at 206-329-8400. Our office is open Monday through Friday, from 8:30 am until 5 pm, and evenings and weekends by appointment. We are located near the Fishermen's Terminal in Seattle. We have a Spanish speaking paralegal on site, if necessary.
