You want to invest your money. You know it can be profitable and set you up for the future. You also know that you want to let professionals do this on your behalf, as a nod to their knowledge and experience.
As an investor in a company, you have a good reason to be interested in how that company conducts its business. When the leaders of a company behave incompetently or commit some form of misconduct that damages the value of the company (and your investment), a lawsuit may be an appropriate course of action.
When your financial advisor tells you something, do you feel like you just have to accept it without question? After all, this person is an expert. You work with them specifically for their knowledge, knowing you don't have it. Should you ever question them?
Kentucky has certain licensing guidelines in place to reduce the chance of a consumer being taken advantage of by their financial advisor. They're often not effective in stopping your money manager if they engage in sneaky tactics though. Fortunately, there are legal remedies that you can pursue against your financial planner if they don't uphold their responsibilities to you.
In less than a month, four shareholder lawsuits have been filed against Sotheby's. At issue is the famed auction house's acquisition deal with Patrick Drahi. The 55-year-old Drahi, known as a telecom mogul, is president of Altice, the French telecom group. In June, it was announced that he was planning to purchase Sotheby's for $3.7 billion and turn it into a private company. Sotheby's has been a publicly traded company for over three decades.
Most people dread the thought of leaving their financial adviser. Even if you don't have a particularly good relationship with them, they may have been handling your investments and other assets for years. Moving everything over to another firm can be difficult and time-consuming. You may also just not want the confrontation.
You hear a lot about the stock market on the news or when you bring up financial topics like estate planning, retirement planning or just increasing your personal wealth. But have you ever wondered, for all of the people who seem to have a lot of opinions about investing, how many of them are actually putting their money into stocks?
One potential issue you could run into with your broker is if they tell you to quickly buy a specific stock because the company is about to pay out a dividend on that stock. Brokers will sometimes act as if this gives you a fast, easy way to make money, or they'll even present it as an upcoming gain -- saying you can get a fast 5% return, for instance.
You get a broker or start working with a brokerage firm. Your thoughts focus on how you're going to make money by putting the assets you already control into your investment portfolio. You know that it's crucial for your retirement.
Investing your money is always a bit of a gamble, no matter how carefully you do it. If you're not financially sophisticated about investments, you probably rely heavily on the advice of your financial advisors.