Frequently Asked Questions

Let us answer a few frequently asked questions below:
  1. Common types of broker/investment advisor misconduct?

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    1) Misstating the safety and/or anticipated performance of the recommended investment(s). 2) Failing to adequately explain the nature and risks of the recommended investment(s). 3) Recommending variable annuities for funds that are already tax-deferred (such as pension or 401(k) funds) 4) Find out more by contacting our office.
  2. I don't trust anybody anymore...What do I do with my money now?

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    Finding a competent advisor can be a challenge. However, here are a few suggestions: Watch out for the red flags and potential problems discussed above. Do a BrokerCheck Report, available at no charge at www.finra.org.
  3. I can't afford a lawyer. What should I do?

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    Many attorneys who handle customer investment cases, including the Law Offices of Melinda Jane Steuer, will take your case on a contingency basis. This means that you will not pay anything up front. The attorneys will receive a percentage of the recovery, if any. If there is no recovery, there is no fee.
  4. What recourse do I have?

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    If you feel that your financial advisor may have done something wrong, you may file a complaint with the Financial Industry Regulatory Authority and/or the Securities and Exchange Commission. You may also wish to consult with an attorney about your rights. The Law Offices of Melinda Jane Steuer offers free consultations.
  5. I feel stupid. Isn't this all my fault?

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    Don’t be so hard on yourself. After all, if you knew everything there was to know about how to manage your money, you would not have needed a financial advisor in the first place. A financial advisor has the same duty to you as a doctor or lawyer -the duty to act only in your best interests. Just as you are entitled to trust your doctor, you are also entitled to trust your financial advisor. Besides, even the smartest person in the world cannot make an informed decision if they are not given all the facts.
  6. What are some common types of broker/investment advisor misconduct?

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    1) Misstating the safety and/or anticipated performance of the recommended investment(s). 2) Failing to adequately explain the nature and risks of the recommended investment(s). 3) Recommending investments which are not appropriate for the client's age, income, investment goals and/or risk tolerance. 4) Recommending variable annuities for funds that are already tax-deferred (ie: pension or 401(k) funds. 5) Recommending variable annuities for seniors 6) Replacing one life insurance policy and/or variable annuity contract with another. 7) Excessive trading within a customer's account (ie: the repeated buying and selling of a particular stock or stocks in order to generate commissions). 8) Over-concentrating funds into one type of investment and/or market sector. 9) Recommending exotic and complex investments such as hedge funds, commodities, derivatives and/or options to customers who do not have the knowledge to understand such investments, nor the resources to bear the loss of their entire investment. 10) Recommending illiquid and speculative investments such as real estate limited partnerships and/or real estate tenancies in common to customer who require access to their money, and cannot afford to lose their entire investment.
  7. Add your question here?

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    Remember to keep your wording friendly, approachable and easy to understand… you are writing this for lots of different types of people to read and you want to appeal to them all.
  8. Add your question here?

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    Remember to keep your wording friendly, approachable and easy to understand… you are writing this for lots of different types of people to read and you want to appeal to them all.

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