Breach of Contract

Each person who opens a brokerage account completes an application or other agreement with their financial adviser, and/or the broker-dealer or investment advisor that the financial adviser represents.  This agreement is a legally binding contract and requires the investor, the financial adviser, and the firm to comply with its terms.

Further, financial advisers often make verbal promises in connection with your agreement to allow them to manage your investments. These oral agreements also are legally binding and can give rise to a breach of contract if the financial adviser fails to make good on those promises.

These agreements often state that the financial adviser and his or her firm agree to comply with all applicable laws, as well as all rules, and regulations of the SEC and/or self-regulatory organizations (SROs), such as the Financial Industry Regulatory Authority (FINRA).  If the financial adviser and/or firm fail to comply with these laws, rules, and/or regulations, they have breached their agreement with their customer and, if the breach causes the investor to be harmed, may be liable for that harm.

If you suspect that your financial adviser has breached your contract, or engaged in another sales practice abuse, please contact Wittenberg Law to discuss your legal rights and options.