Legal Question in Consumer Law in California

Re: Loss of Brokerage Assets

You need to find out where the losses occurred (what securities) and when they occurred.

Then see if you authorized the transactions or not.

If the account was discretionary -- that is, the broker had power of attorney to enter into specific transactions without getting your permission -- you need to see whether the transactions were consistent with your investment objectives and risk tolerance.

You can call the broker and simply ask him some questions about the losses.

You can also have the account statements analyzed to figure out where the losses occurred. I know a very good consultant who does this for a reasonable fee.

There is a lot more to it than this, but these questions/issues are the starting point.

Re: Loss of Brokerage Assets

There may be multiple causes of action to pursue, including professional malpractice. It is of course, heavily fact defendant. This is an area of the law that is highly regulated and you would be well advised to speak with an attorney further. I handle financial litigation claims, if you would like to speak with me further, please feel free to contact me.

Warmly,

Bryan

[email protected]

Member

National Association of Consumer Advocates