You know over the years it seems like I’ve had the occasional case come my way that just happened to involve an older investor. I didn’t go looking for it, it came to me but I think what really changed it for me is when my own father was the victim of financial abuse. This happened a few years ago when my mom passed away and my dad went to his broker who he knew from church, who he trusted immensely who was with a major international firm and said now that my wife has died what do I do with my annuities? Well the broker actually called the annuity company to find out what my dad’s options were and then preceded to lie to my dad about that. And the broker essentially gave my dad advice that was in the broker’s best interest because it generated a lot more commissions for the broker to the detriment of my dad.

Now how do we know that because my dad hired me to represent him we ended up suing his brokerage firm? And through the lawsuit we were able to get taped telephone conversations in which the annuity company was actually telling the stockbroker exactly what my dad’s options were and then, I kid you not, within an hour that broker was at my dad’s house lying to him about what his options were. And we were able to prove that because the broker left handwritten notes for my dad. We were successful in that case we got back 100 percent of my father’s losses plus interest plus attorney fees.