Ask a Lawyer - Archive

I have a broker with Edward Jones. A couple of years ago I thought I bought a bond with CitiBank ony to find out it was CIT. Now they told me to sell it to get out some of my investment. I lost $30,000 and now I found out that CIT is aggressive. I told the broker from day 1 that I do not want anything aggressive.

Lately there have been oodles of questions concerning bad investments and allegations of unscrupulous or unprofessional brokers and financial planners. Unfortunately, the volatile markets have hit many of us hard.

Brokers are subject to all kinds of regulations, but not all financial planners are. If you have a complaint about your broker, bring it to the Securities and Exchange Commission. You can file a complaint by visiting SEC Center for Complaints and Enforcement Tips.

There are also attorneys who represent investors in actions against their brokers. You might wish to have a conversation with an expert in the field to see if you have a case and if it's worth the time, trouble and cost. Securities law is very specialized, so be sure to talk with someone who does this - and not just your local general practitioner. Best of luck.