Financial Malpractice

Malpractice in any formed is defined as "improper, illegal, or negligent professional activity". While most cases of malpractice are focused on medical and legal, there is a growing concern to examine financial malpractice.

As with any other service profession, financial professional have a "standard of care' which they must meet. This is considered their fiduciary responsibility which is considered the property or power entrusted to them to benefit another - their client. Negligence can occur when the financial professional fails to:

• Make suitable financial recommendations
• Fails to execute trades or transactions as ordered
• Charges excessive fees
• Commits theft or fraud.

Consequences for financial malpractice run the gambit of damages from a civil suit to imprisonment. Theft and fraud carry criminal charges and may result in jail time.

If you believe you you've been a victim of financial malpractice, discuss your case with a qualified malpractice attorney. Law vary by state, you need the professional help of an experienced lawyer. You worked too hard for your retirement savings to have it taken away by the negligence of someone else.