What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: June 23, 2017

Brokerage firms are required to only distribute money to people who are authorized by the owner of the account. Sometimes brokerage firm’s allow funds to be withdrawn or taken from an account without the account holder’s approval or authorization. Sometimes the people who abscond with the funds are family or friends. Other times the people who take the funds are unknown to the account holders. This week Ameriprise got tagged in a FINRA arbitration claim for $435,000when the farm made an improper distribution to a person Who was not a proper beneficiary of a nonqualified account and to two IRAs

If you were a client of Merrill Lynch, Morgan Stanley, Ameriprise, E*TRADE, Wells Fargo, Scottrade, Schwab, Fidelity, Vanguard, or any other brokerage firm, and funds were illegally taken from your account through hacking, fishing or simply a brokerage firm allowing funds to be taken, stolen or converted you have legal options to recoup those funds through the FINRA arbitration process. Please call our law firm in Chicago Illinois at 312-332-4200 for a no-cost review by an attorney to see whether those losses can be recovered on a contingency fee basis.

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The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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