Brokerage firms have a legal duty to supervise their financial advisors and their advisors’ recommendations to clients to ensure compliance with, and prevent violations of FINRA rules and established state and federal securities laws. When a financial advisor is negligent or fails to act in his/her client’s best interests, advisors’ firm may be liable for violating its obligation to properly supervise the advisors’ activities – failure to supervise. There are many scenarios where a firm can fail to properly supervise that results in a financial loss to its clients. For example, the advisors sell away from the firm (i.e., sell securities to its clients that are not offered through the firm), fail to implement a proper investment strategy or fail to properly train the advisors. If you have suffered a financial loss as a result of a brokerage firm’s failure to supervise, please contact us to assist you in your investigation of this claim.
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