Energy funds suffered heavily in the market after the Coronavirus outbreak.
The Sonn Law Group is investigating allegations that brokers unsuitably recommended energy funds. If you or a family member has suffered losses investing in Fidelity Select Energy Service Portfolio, we want to discuss your case. Please contact us today for a free review of your case.
The Fidelity Select Energy Service Portfolio fund purportedly seeks capital appreciation by investing primarily in companies in the energy service field, including those that provide services and equipment to the conventional areas of oil, gas, electricity, and coal, and newer sources of energy such as nuclear, geothermal, oil shale and solar power, according to Market Watch.
Energy funds suffered significant losses last week as equity markets worldwide plummeted amid investor fears about Coronavirus and an oil price war between Saudi Arabia and Russia. As of March 27, 2020, Fidelity Select Energy Service Portfolio has a -65.42% YTD return.
The Sonn Law Group is investigating allegations that brokerage firms may have recommended high energy investments such as Fidelity Select Energy Service Portfolio fund to its clients. If your financial advisor over-concentrated your portfolio, you may have a claim to recover losses.
Financial advisors are required to make suitable investment recommendations, accounting for your age, income, net worth, investment experience, and investment objectives. Diversification is the key to reducing risk. As such, over-concentrated exposure to any sector or investment but particularly volatile industries like oil and gas can be unsuitable for many investors.
Contact Us Today
If you suffered losses investing in Fidelity Select Energy Service Portfolio, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.