Don’t Touch My Stock!
Don’t Touch My Stock!04.10.2014
Registered Representatives can help themselves avoid loss
and reduce exposures using a few simple tips. Read on to learn more about how
timely documentation can mitigate risk:
Claim Scenario: The client was an 78 year-old retiree who entered into an agreement for the registered representative to manage several investment accounts on a non-discretionary basis. The client had an IRA valued at approximately $120,000 and was 90% invested in Amazon stock. The client held another 500 shares of Amazon in another account. Within a few months, all the Amazon shares in the IRA were sold via a covered call. The client asserts that he never agreed to sell the Amazon shares.