The securities fraud attorneys at the Sonn Law Group are investigating claims that financial advisors and brokers at firms like LPL Financial, UBS, and Merryl Lynch targeted retirees and former employees of CDW – an Illinois-based company that provides business IT solutions – and made unsuitable securities investment recommendations. Specifically, the brokers advised that investors allocate funds from their 401(k) and other retirement accounts to invest in securities that are not suitable or appropriate for retirement accounts.
If you are a former employee or retiree of CDW and have been advised to invest money from your retirement accounts, please contact the Sonn Law Group today. We will review your case free of charge to determine whether you may be able to recover investment losses.
It is against FINRA’s suitability rule for brokers to make unsuitable investment recommendations. Furthermore, under the Illinois Securities Act of 1953, all recommendations to investors 401(k)s must be suitable and appropriate in terms of the financial resources of the customer.
Due to the nature of retirement accounts – that they normally constitute a large portion of the investor’s overall net worth – it is critical that registered brokers and advisors make only safe, reasonable, and suitable investment recommendations involving these funds. If you’re a CDW retiree or former employee and you’ve suffered significant losses to your retirement accounts, you may be able to make a claim for compensation via FINRA arbitration or a securities fraud lawsuit.
This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.