Fidelity Select Energy Service Portfolio Securities Investigation
Have you suffered losses investing in Fidelity Select Energy Service Portfolio? If so, the securities attorneys of The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against the brokerage firm that sold you the investment.
According to reports, energy funds suffered heavy market falls last week as equity markets around the world plummeted and investors worried about the ongoing coronavirus outbreak and an oil price war between Saudi Arabia and Russia.
The Fidelity Select Energy Service Portfolio fund reportedly 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.
Unfortunately for investors, Fidelity Select Energy Service Portfolio fund has a -65.22% return YTD, according to Market Watch.
Recovery of Investment Losses
The White Law Group is investigating the liability that brokerage firms may have for recommending Fidelity Select Energy Service Portfolio to their clients.
Aggressive financial advisors may have unsuitably recommended energy funds in an effort to chase yield. Investors who buy solely on the basis of the dividend may experience losses as the dividend is cut and the stock price declines in response.
If your financial advisor over-concentrated your portfolio, you may have a viable claim to recover your 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.
If you suffered losses investing in Fidelity Select Energy Service Portfolio, The White Law Group may be able to help. Please call 888-637-5510 for a free consultation with a securities attorney.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee. The firm represents investors throughout the country in FINRA arbitration claims against their brokerage firm.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.