An unexpected investment loss can be upsetting, and your initial reaction may be to place the blame entirely on yourself. However, you may want to consider that decisions made by an adviser or broker could be responsible for the loss. Even if you had what you believed to be a strong and trusted relationship, it is possible that a broker may have made unsuitable investments.
Not all losses are due to unsuitable investments or misbehaving brokers, but some are. You should ask yourself some important questions if you suspect that your losses were caused by more than the standard risk of investing. For example, were you misled about the risks associated with your investments? Did your broker or adviser fail to even disclose any of the risks?
In order to make a fully informed investment decision, you must understand the risks involved. Your broker should explain the risks and benefits of certain decisions, and should only make decisions that respect your comfort level when it comes to investing. If you were not given the correct or full information regarding an investment, then you may have unknowingly engaged in risky strategies.
Sadly, some investment advisers and brokers in New York believe that they can push their clients toward bigger investment payouts by withholding relevant risk information. These practices often result in unsuitable investments that yield significant financial losses. If this has happened to you, you are not alone. You have options for holding those responsible for your losses accountable. You can find out more about those options right here on our website.