Did your financial advisor bet big on the Market Vectors Egypt Index ETF? If so, the securities attorneys of The White Law Group may be able to help.
This year has been an eventful one for Egypt, where the Arab Spring first took root after the overthrow of the Mubarak regime. The political uncertainty has had a significant impact on this ETF. Apparently the fund is down a staggering 48%.
Financial professionals and brokerage firms have a duty to recommend only investments that are appropriate for the client in light of the client’s age, investment experience, net worth, and investment objectives.
While ETFs are often sold as conservative ways to track the market, or a particular sector of the market, this is an over-simplification of the complicated trading strategies necessary to accomplish this. Additionally, tracking a particular sector of the market is not necessarily a conservative trading strategy (depending on the concentration level of the investment relative to the other assets in your account and the particular sector).
If your financial advisor bet big on an ETF like the Market Vectors Egypt Index ETF and you suffered substantial losses, you may have a claim to recover your losses through FINRA arbitration.
FINRA is the regulatory body governing the securities industry. It has a dispute resolution forum specifically designed for disputes between investors and brokerage firms.
If you believe that your financial professional took an unnecessarily risky position in an ETF, the securities attorneys of The White Law Group may be able to help.
For a free consultation, please call The White Law Group’s Chicago office at 312/238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.