Why Financial Advisors Get Sued
Failure to meet client expectations is the big tent for client litigation. It is vital that client needs and objectives align with the financial advisor’s recommended products and services. If there is no alignment, variances should always be noted and mutually agreed to. When in doubt, it is always best to seek the advice of competent legal counsel.
Communication and accountability should be at the foundation of every working relationship. When signs of client dissatisfaction begin to surface, such as when a client’s temperature rises, the altruistic advisor will always be attentive, responsive, and truthful.