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Wandering Financial Advisors

Financial investments are big life decisions. When you decide to put your money in securities or bonds, you likely have a plan for things like your children’s college fund, a retirement account, growing an inheritance, and so on. 

As such, it’s important to do your due diligence when selecting the financial advisor you work with. If you’re not sure where to start, an investment lawyer can help you conduct a search on the advisor to ensure that your plans are in safe hands. 

Wandering financial advisors, fraudulent stock brokers, and non-compliance advisors are some of the risks that your stock broker fraud attorney can help you avoid.

What Does a Wandering Financial Advisor Mean?

The Financial Industry Regulatory Authority (FINRA) creates and enforces the guidelines by which financial advisors and stock brokers should abide. In case of misconduct, FINRA has the authority to bar or suspend an advisor from practicing.

However, most of these financial advisors who are banned move on to less strict firms where they continue to exploit investors. When they cannot practice anymore, they might finally resort to the insurance sector. 

These financial advisors are referred to as “wandering,” and working with them can cost you—sometimes up to your entire investment.

Can You Sue a Wandering Financial Advisor?

A wandering financial advisor can do a lot of damage to any investor they happen to work with. Due to their tendency to be involved in misconduct, they might violate a regulation for their personal gain, leading to an investment loss for you. 

While the securities market is volatile, a wandering financial advisor is also likely to act out of negligence. In this case, you might be eligible to file a civil suit to recover any money you have lost. 

Your investment attorney can investigate the incident to determine if the advisor had been previously flagged for misconduct and whether this particular case involved a breach of duty. 

Get in Touch with an Investment Lawyer

Have you been thinking about purchasing or trading in stocks or bonds? Investing in securities is an ingenious way to expand your wealth, but it’s also filled with risks, including wandering financial advisors. Ensure that you conduct a proper background check with an investment attorney before hiring. 

If you’ve lost money on an investment that was facilitated by a wandering financial advisor or have experienced other kinds of fraud in the financial sector, a lawyer can also help you pursue these losses through compensation from the brokerage. Request a free consultation with one of our professionals at Wolper Law Firm by calling 800-931-8452 or filling out our contact form below.

Now is the time to talk to an investment loss recovery lawyer. We can help recover your investment loss. Free consultations, always.
Main Office - Fort Lauderdale

1250 S. Pine Island Road
Suite 325
Plantation, FL 33324
Phone: (800) 931-8452
(954)-406-1231

Additional Office Locations (by appointment only)
Atlanta

3355 Lenox Road
Suite 7
Atlanta, GA 30326

Indianapolis

13295 N. Illinois St.
Suite 314
Indianapolis, IN 46032

New York City

275 Madison Avenue
Suite 705
New York, NY 10016

Dallas

3102 Maple Ave.
Suite 400
Dallas, TX 75201

Portland

5933 NE Win Sivers Drive
Suite 205
Portland, OR 97220

Denver

7900 E. Union Ave.
Suite 1100
Denver, CO 80237

Naperville

1700 Park Street
Suite 103
Naperville, IL 60563

Seattle

1001 Fourth Ave.
#3200
Seattle, WA 98154