- GuardianshipThe modern statutory “Prudent Investor Rule†standard generally requires consideration of all of the “purposes, terms, distribution requirements, and other circumstances†of the trust or retirement plan. It requires the “fiduciary†to exercise “reasonable care and caution†in managing the “investment portfolio as a whole†and as part of “an overall investment strategy†that incorporates “risk and return objectives reasonably suitable to the trust, guardianship or probate estate†investment portfolio. And if the “fiduciary†has special skills, like a professional broker or advisor, he/she is “under a duty to use those special skills†and will be judged accordingly. The “Prudent Investor Rule†is a test of conduct at the time the investment decision is being made, not performance. The “fiduciary†has a general duty to diversify investments unless it is “reasonably†believed not to be in the “best interests†of the beneficiaries to do so. Ultimately, and consistent with the earliest “Prudent Man†standard, the “fiduciary†has the duty to follow a strategy that considers both the “reasonable production of income and safety of capital.â€
- FraudThe investment fraud lawyers at the Law Offices of Robert Wayne Pearce, P.A. have been helping investors nationwide recover their losses since 1980. We are one of the most experienced securities fraud law firms nationwide and have recovered more than $160 Million on behalf of our clients.
- White Collar CrimesInvestment fraud is a white-collar crime that involves fraudulent schemes designed by brokers that are used to gain finances from unsuspecting investors.
- Theft
- ForgeryWe represent FINRA-registered “associated persons” in FINRA arbitrations and court proceedings to expunge customer complaints and other black marks on their FINRA Central Registration Depository Record (CRD) when: 1) the claim, allegation, or information is factually impossible or clearly erroneous; 2) the registered person was not involved in the alleged investment-related sales practice violation, forgery, theft, misappropriation, or conversion of funds; or 3) the claim, allegation, or information is false. We also help stockbrokers expunge their CRD of false and defamatory statements made by their former employer.
- Internet CrimesIf you’ve been the victim of securities fraud, you may be able to take legal action. What is Securities Fraud? Securities fraud, also known as investment fraud or stock fraud, involves using false or misleading information to convince investors to make investment decisions that result in substantial losses. All forms of securities fraud aim to deceive investors into taking actions that benefit the perpetrator financially. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. Almost anyone can be a victim of securities fraud. While the elderly and inexperienced investors are frequent targets, even savvy investors can fall prey to securities fraud if they’re not careful. Perpetrators of securities fraud will often make false or misleading statements in order to persuade investors to buy or sell securities, usually at the benefit of the perpetrator. If you believe you have been a victim of securities fraud, it is important to take action. Securities fraud is an illegal or unethical activity punishable by law. You may be able to recover your losses by filing a lawsuit against the person or entity who committed the fraud, as well as protect yourself and other investors from future harm. You should consider talking with an investment fraud lawyer to learn more about your legal options. Key Takeaways Securities Fraud is an illegal and deceptive practice targeting investors to make investment decisions based on false or misleading information. There are many different perpetrators of securities fraud, and almost anyone can be a victim. Commons forms of securities fraud include but are not limited to: High Yield Investment Frauds, Ponzi & Pyramid Schemes, Advance Fee Schemes, Misconduct by an Investment Advisor, and Structured Notes. There are legal actions you can take if you have been the victim of securities fraud, especially if you’ve suffered substantial investment losses as a result. The Different Perpetrators of Securities Fraud There are many different perpetrators of securities fraud, and they all have different motivations. Some may be driven by greed, while others may simply be trying to take advantage of investors. Regardless of their motivations, all perpetrators of securities fraud share one goal: to make money by deception. Securities fraud can be committed by a single person, such as a stockbroker or a financial advisor. It might also be perpetrated by an organization, such as a brokerage firm, corporation, or investment bank. In these scenarios, the target is usually an unsophisticated investor who is unaware of the fraud being committed. Independent individuals may also commit securities fraud, such as insider trading or market manipulation. In these cases, the individual investor is usually the perpetrator rather than the victim. Due to the actions of the independent individual, the entire market may be impacted, and other investors may suffer losses as a result. Unfortunately, the perpetrator of securities fraud may
- ExtortionElder financial abuse comes in many forms, such as theft, fraud, misuse of authority, extortion, and manipulation. Cases of financial abuse are evident across all industries, for example...
- Corporate LawStockbroker-Investor Arbitration, Breach Fiduciary Duty, Business Fraud, Stockbroker Fraud, CFTC Enforcement Proceedings, Commercial Fraud, Commodities Law, Contract Fraud, Corporate Litigation, Covenants Not-To-Compete, ERISA Litigation, Failure to Diversify, FINRA Enforcement Proceedings, Form U-5 Abuse Arbitration, Fraud, Hedge Fund Fraud, Investment Advisor Fraud, Misappropriation, Mismanagement, Misrepresentation, Negligence, Negligent Supervision, Ponzi Schemes, Promissory Notes, SEC Enforcement Proceedings, Securities Law, Selling Away, Stock Market Manipulation, Stockbroker Negligence, Suitability, Tradename and Trademark Litigation, Trust Litigation, Unauthorized Trades, Undue Influence, Unregistered Brokers, Unregistered Investment Advisors, Unregistered Securities, Viatical Settlement Contract Fraud, and Wrongful Termination Litigation.
- Business Disputes
- Trade Secrets
- Wrongful TerminationOur attorneys further represent investment professionals in employment discrimination disputes that constitute race, age and sex discrimination, sexual harassment, and wrongful termination or retaliatory discharge cases.
- Employment DiscriminationFor over 40 years Attorney Pearce has not only represented investors but also brokers and advisors who have suffered abuse at the hands of their employers and regulators during and after registration. He has substantial experience with CRD Expungement, cleaning brokers’ records of false claims; Employment Contract Disputes involving non-compete clauses, and non-solicitation clauses, trade secrets and proprietary information, forgivable loans, promissory notes, and up-front bonuses; Form U-5 Defamation, when an employer files false and defamatory information about an employee after an employment relationship is terminated; Employment Discrimination disputes that constitute race, age and/or, sex discrimination, sexual harassment, and wrongful termination or retaliatory discharge cases; and Registration problems.
- Employment ContractOur attorneys also represent brokers and advisors in employment agreement disputes that involve non-compete (covenants not to compete) and non-solicitation clauses, trade secrets and proprietary information (e.g., customer lists and customer databases), forgivable loans, promissory notes, and up-front bonuses.
- Employment Litigation
- Sexual Harassment
- Real Estate TransactionsIn May, Claimant’s retirement plan fell apart and so she requested Mike find some investment opportunities for the cash that had been set aside for the North Carolina real estate transaction and sitting in the account. In addition, Claimant delivered two checks in the amounts of $50,000 and $120,000 payable to Todd Financial Services for investment while she made a new retirement plan. The Claimant handed Mike the $120,000 check at their last meeting on June 28, 2022, where Mike once again misrepresented the portfolio holdings and value of her investment portfolio.
- Wills
- Trusts
- ForeclosureMany investors have heard of margin accounts and the horror stories of others who invested on margin and suffered substantial losses. But few investors understand that securities-backed lines of credit (SBL) accounts, which have been aggressively promoted by brokerage firms in the last decade, are just as dangerous as margin accounts. This is largely due to the fact that the equity and bond markets have been on an upward trend since 2009 and few investors (unless you are a Puerto Rico investor) have experienced market slides resulting in margin calls due to the insufficient amount of collateral in the SBL accounts. Securities-Backed Lines of Credit Overview It is only over the last several months of market volatility that investors have begun to feel the wrath of margin calls and understand the high risks associated with investing in SBL accounts. For investors considering your stockbroker’s offer of a line of credit (a loan at a variable or fixed rate of interest) to finance a residence, a boat, or to pay taxes or for your child’s college education, you may want to read a little more about the nature, mechanics, and risks of SBL accounts before you sign the collateral account agreement and pledge away your life savings to the brokerage firm in exchange for the same loan you could have obtained from another bank without all the risk associated with SBL accounts. First, it may be helpful to understand just why SBL accounts have become so popular over the last decade. It should be no surprise that the primary reason for your stockbroker’s offering of an SBL is that both the brokerage firm and he/she make money. Over many years, the source of revenues for brokerage firms has shifted from transaction-based commissions to fee-based investments, limited partnerships, real estate investment trusts (REITs), structured products, managed accounts, and income earned from lending money to clients in SBL and margin accounts. Many more investors seem to be aware of the danger of borrowing in margin accounts for the purposes of buying and selling securities, so the brokerage firms expanded their banking activities with their banking affiliates to expand the market and their profitability in the lending arena through SBL accounts. The typical sales pitch is that SBL accounts are an easy and inexpensive way to access cash by borrowing against the assets in your investment portfolio without having to liquidate any securities you own so that you can continue to profit from your stockbroker’s supposedly successful and infallible investment strategy. Today the SBL lending business is perhaps one of the more profitable divisions at any brokerage firm and banking affiliate offering that product because the brokerage firm retains assets under management and the fees related thereto and the banking affiliate earns interest income from another market it did not otherwise have direct access to. For the benefit of the novice investor, let me expl
- Tax LawC. Raymond Weldon Of Independent Financial Group, LLC And Formerly With The Investment Center, Inc. and Cetera Advisor Networks LLC, Has Six Customer Complaints For Alleged Broker Misconduct. C. Raymond Weldon has been the subject of at least six (6) customer complaints that we know about to recover investment losses. The Law Offices of Robert Wayne Pearce, P.A. currently represent five of his customers in a FINRA arbitration claim against Weldon’s employers. IMPORTANT: We are providing information about our clients’ allegations and seeking information from other investors who did business with C. Raymond Weldon and had similar investments, a similar investment strategy, and a similar bad experience to help us win our clients’ case. Please contact us online via our contact form or by giving us a ring at (800) 732-2889. Raymond Weldon Customer Complaints Weldon has been the subject of at least six (6) customer complaints that we know about to recover investment losses. We currently represent five of his customers against Weldon’s employers. A summary of the allegations made in the FINRA arbitration filed for investment losses realized by five of Weldon’s clients were as follows: 1. Introduction Claimants filed an arbitration claim against Respondents Cetera Advisors Networks, LLC (“CAN†), The Investment center, Inc. (“TIC†), and (“IFG†) for their registered representative C. Raymond Weldon (“Weldon†) failure to act in Claimants’ “best interest,†and his unsuitable recommendations, misrepresentations, misleading statements, acts, and omissions. Weldon had written discretionary authority to manage Claimants’ accounts and failed to do so. Respondents CAN and TIC formerly employed and IFG who currently employs Weldon held him out and other employees on his team as stockbrokers, investment advisers, investment managers, financial advisers, and financial planners with special skills and expertise in the management of securities portfolios and financial, estate, retirement, and tax planning matters. Weldon was a Chartered Financial Consultant, a professional with a certification which would indicate Respondents and Weldon knew or should have known his mismanagement Claimants’ accounts was in breach of his fiduciary duties and below the acceptable standard of care of professionals like him. 2. THE RELEVANT FACTS All Claimants, except one Claimant’s wife, worked together. They were introduced to Weldon as an investment manager who successfully managed securities brokerage accounts for a local synagogue and many of its members. With one limited exception, none of the Claimants had any securities brokerage accounts or experience investing in the stock or bond markets before they met Weldon. They were all interested in saving for retirement and he solicited them to establish an investment advisory and brokerage relationship for that