Breach of Fiduciary Duty

Fiduciary duty requires people who are in a position of trust and confidence, such as a financial advisor, to maintain the highest ethics, putting the investor's best interests before his or her own. Fiduciaries must act for someone else's interests, not their own, and are obligated to avoid acting for their own benefit at the expense of the client's interests. Advisors can breach this fiduciary duty through fraudulent actions, failure to disclose necessary or important information, unsuitable investment recommendations, engaging in investment scams or other scam-like activities, and acting out of their own self-interest. Acting for one's own benefit rather than the client's interests is a breach of fiduciary duty. A fiduciary's failure to act in the client's interests can result in being held legally liable. For example, if a fiduciary mismanages money or invests for personal gain, and fails to exercise the care that a reasonable person would in a similar situation, this constitutes a breach. Fiduciary duty examples include recommending unsuitable investments, failing to monitor the markets or the investment, failing to rebalance the portfolio, failing to diversify, misappropriating money, making investments for personal benefit, or failing to disclose a conflict of interest. 

Our attorneys at Eccleston Law have experience handling cases relating to investment losses, including fiduciary breaches. Our industry knowledge and experience within other areas of securities give us a greater understanding of our clients' situations and the means necessary to recover their lost investments. 

Contact Eccleston Law to schedule a personal phone conference with our team of attorneys today.

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Frequently Asked Questions

Who owes me a fiduciary duty when managing my investments?

Registered investment advisors (RIAs), certain financial advisors, trustees, and sometimes brokers have a legal obligation to act as fiduciaries. That means they must always put your interests ahead of their own and act with honesty, transparency, and loyalty.

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