“Check has been received and deposited. I’d like to give one final thank you to everyone on your team for all the hard work you all have done. This money will be changing my life for the better. This is also my first experience working with and having lawyers, and I will say that it was a very positive experience. I wish you all well in your future endeavors. Thank you!”
When a stockbroker buys or sells securities for the primary purpose of getting a commission — rather than because the trade makes financial sense for the investor, this is called “churning,” and it is illegal. Excessive trading violates the fundamental principle that the client’s interests should always come first. Commissions associated with excessive trading can make it nearly impossible for an investment portfolio to become profitable.
If you suspect that frequent sales of profitable or “winning” stocks has disguised overall poor performance in your portfolio, or that your stockbroker has engaged in churning, get legal advice from a knowledgeable securities law attorney. Contact a lawyer at Kaplan Rothstein Prüss Peraza, P.A.