How To File a Complaint Against Your Broker

Big losses have left investors infuriated. Not sure of whom to blame, some have pointed fingers at their financial advisors. Either citing that their advisors ignored their instructions or, more importantly; disregarded their risk tolerance. The result of this has seen arbitration cases against brokers up 110% in 2008. Filing for arbitration is not end of all means for investors, though. Pursuing a case requires painstaking proof and even winning doesnâ t mean that you will be made whole. Typically, investors will only recover 40% of their money.

What a financial advisor can or cannot do?

If you are looking to fight back, hereâ s what you need to know.
First, we need to look at what a financial advisor can or cannot do.

Financial Advisors Can:

Financial Advisors Cannot:

How can you protect yourself from an unscrupulous broker?

There are have been many high profile cases of late (Madoff, Stanford) that have left investors wondering how they can really protect themselves. Unfortunately, in the Madoff case there was no protection; at least with background checks. In that case, the old adage of â
By Jeff Rose
Jeff Rose
Jeff Rose, CFP is the owner of Good Financial Cents, a Financial Planning and Investment Blog by a Certified Financial Planner with a goal of helping you make "Cents" of your investments. (Follow Jeff Rose on Google+)

Copyrighted 2020. Content published with author's permission.

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