Zamansky & Associates LLC Announces The Filing of a FINRA Arbitration Against Merrill Lynch for Improper Asset Allocation

Zamansky & Associates LLC announces that it has filed a FINRA arbitration on behalf of a retired dentist against brokerage firm, Merrill Lynch, Pierce, Fenner & Smith, Inc. for allegedly investing his brokerage account too heavily into stocks and stock mutual funds, and not into income investments that were needed.

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The "Age in Bonds" rule still applies on Wall Street, says Jake Zamansky. He believes that investors who are not diversified into fixed income investments may be invested unsuitably, and that they will suffer large losses if the stock market crashes.

New York, NY (PRWEB) March 15, 2013

Zamansky & Associates LLC announces that it has filed a FINRA arbitration on behalf of a retired dentist who was a securities customer against brokerage firm, Merrill Lynch, Pierce, Fenner & Smith, Inc. The case is FINRA Case No. 13-00646. The Statement of Claim which seeks damages of $99,000 for the investor alleges that his Merrill Lynch brokerage account was unsuitably asset allocated for this retiree in his 60s who was in ill health. It alleges that the account was invested too heavily into stocks and stock mutual funds, and not into income investments that were needed to protect and preserve his savings in view of his age and health.

Financial advisors have duties to properly asset allocate, according to Jake Zamansky. This means that a conservative investor or retiree should have substantial allocations towards fixed income securities such as bonds or bond funds which preserve principal and generate income, Zamansky contends. “The ‘Age in Bonds’ rule still applies on Wall Street,” says Zamansky. He believes that investors who are not diversified into fixed income investments may be invested unsuitably, and that they will suffer large losses if the stock market crashes.

What Investors Can Do

If you would like to have your brokerage accounts reviewed or discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.

About Zamansky & Associates

Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud and financial services arbitration and class action litigation. We represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.

To learn more about Zamansky, please visit our website, http://www.zamansky.com.

Contacts

Zamansky & Associates, LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414
jake(at)zamansky(dot)com


Contact

  • Jacob Zamansky
    Zamansky & Associates LLC
    212 742-1414
    Email