Is there a difference between a broker's negligence and breach of fiduciary duty?

 

A: Yes. Negligence and breach of fiduciary duty are not the same thing, although if you and your Columbus investment fraud attorney prove the elements of negligence and/or breach of fiduciary duty, then you may be able to recover damages for your financial losses.

In a negligence claim, you must prove that the investment advisor's actions did not meet the reasonable standard of care that other advisors would exercise in a similar situation, and that you lost money as a result.

In a breach of fiduciary duty claim, you must first prove that your broker owed you a fiduciary duty. In other words, you and your Columbus investment fraud lawyer must establish that because of your ongoing relationship with the broker, the broker had a duty to put your interests first. While this cause of action has certain similarities to negligence claims, it may also encompass other violations. For example, if your broker recommended an investment that also benefited the broker and did not disclose the potential conflict of interest to you, then your broker may have breached his or her fiduciary duty.

For more information about negligence and breach of fiduciary duty claims, it is important to call the experienced Ohio investment fraud attorneys of Meyer Wilson. We are currently the only Ohio law firm exclusively dedicated to representing individual and class-action investors in stockbroker mediation, arbitration, and litigation claims.

We invite you to read more about your rights in our FREE book: Five Signs of Investment Fraud ...and What to Do if it's Happened to You and to contact us directly at 614.224.6000 or 866.827.637 for a free consultation.