Oct 28, 2019 by |

Marin County and California Financial Elder Abuse Attorney: Financial Elder Abuse by Stockbrokers, Insurance Agents, and Financial Advisors

ATTORNEY NEWSLETTER

Seniors Targets of Financial Elder Abuse

If You’re a Victim, We Can Help

Unscrupulous stockbrokers, insurance agents, financial advisors and retirement planners all prey on seniors with money to invest. Seniors are natural targets as they hold 1/3 of the nation’s wealth. Seniors may also be more receptive to sales pitches on higher return “opportunities” in a low-interest-rate environment. Be careful. Stockbrokers and agents work on commissions; they don’t earn money if seniors just keep their money where it is. The Marin financial elder abuse attorneys at Evans Law Firm, Inc. represent California seniors who suffer from fraud and/or financial elder abuse at the hands of insurance agents, financial advisors, retirement planners and stockbroker selling them inappropriate or unsuitable investments including annuities, churning their accounts or their annuities, misrepresenting investments, and/or failing to disclose important information. If you’re the victim of financial elder abuse here in California call us today at (415)441-8669.

The best way to prevent financial elder abuse is to keep an eye on a senior’s money and bank and brokerage firm accounts. If you’re the loved one of a senior review monthly statements frequently. Talk to the senior about conversations he or she may have had regarding financial matters:

  • Is anyone pushing them to buy an annuity or replace an existing one?
  • Is a broker recommending risky investments?
  • Does there appear to be excessive trading in any brokerage account?
  • Are the same stocks (or stocks in the same sector) bought and sold continuously?
  • Are there unauthorized trades?
  • Are investments too concentrated in one industry?
  • What commissions is the senior paying?
  • Is there excessive use of margin in any account?
  • Isan advisor or broker pushing a risky private placement?
  • Does the broker fail to use limit orders on sales?

When the customer is a senior, an agent or broker’s actions may constitute financial elder abuse entitling the injured senior to extra damages and reimbursement of attorneys’ fees and costs for bringing an action. Our lawyers fight for seniors financially exploited by brokers, insurance agents, retirement planners, financial advisors, and others. If a new broker reaches out to you, do a background check at investor.gov. You may want to run a check on your current broker too to see if there have been any complaints. Visit https://brokercheck.finra.org/.

Contact Us

If you or someone you love is the victim of any type of financial elder abuse in California, call Ingrid M. Evans and the other Marin County and California securities fraud and financial elder abuse attorneys at Evans Law Firm, Inc. at (415) 441-8669, or by email at info@evanslaw.com. Our attorneys have experience with fraud and financial elder abuse cases and complex qui tam or whistleblower cases including offshore tax avoidance cases, complex financial contract cases and cases against large insurance companies. We can help guide your case through a FINRA Arbitration, jury trial or toward an equitable settlement. We also handle cases involving physical elder abuse, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.

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