(US Law & generally) This post has been provided by Goodwin & Scieszka and is an actual question that has been asked. Read on, as you may be able to interpret some of the points made in this article and apply them to your own specific case.

Like any other person, you’ve probably been working hard for most (if not all) of your life to save up for retirement. Few people want to spend their golden years slaving away at a job, which is why we set aside money throughout our career. To guide us through this process, we trust financial advisors to provide sound counsel and manage our savings. Sadly, sometimes these financial planners screw up. Sometimes they make honest mistakes, and other times they were trying to manipulate someone’s account for their own gain. Either way, it can end up in a client losing their retirement savings.

If your financial planner has lost your retirement funds, then you may be wondering what you can do about it. No one should be able to get away with losing your hard-earned money. The first thing you should do is contact an experienced lawyer. Even if you’re not sure if you have a case, any decent lawyer will offer a free case review. It’s better to be sure you don’t have a case than to lose out on a cash settlement.

Here are some things to look out for which can make for a good case against a financial planner:

Omission or Misrepresentation. If a financial planner guaranteed you anything that didn’t happen, then a solid legal case can usually be made against them. Most professional financial advisors will stay away from guaranteeing things for this very reason. Additionally, a legal case can typically be made if a financial planner failed to inform you of crucial information about investments or other matters related to your finances.
Unacceptable Investments. This area is more open to interpretation than the others on the list. For this reason, it’s often abused. However, there are some suggested investments that are blatantly unacceptable. If an investment or a number of investments that were suggested by your advisor ended very badly, then contact a legal expert to see if a case can be made.
Account Churning. This is less common and is largely only applicable to clients who have authorized their planners to trade on their accounts. In some situations, the advisors receive a commission every time a trade is made. Therefore, some dishonest and greedy advisors will make excessive trades on the account to receive more commission money. If you believe your planner may have done this, then contact a lawyer immediately to get to the compensation you deserve.

Regardless of how your financial planner lost your money, there is a good chance you are legally owed compensation. As such, it’s important to get expert legal representation on your side. Contact a lawyer today to see if you have a case and get started on the process of justice.