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Merrill Lynch / ruined my account

1 United States Review updated:
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I am looking for advice or attorneys with experience in arbitration or litigation against a major investment broker who has purposefully not attended to my account, incurring extreme losses. I am a permanent resident in Australia and am an American citizen, and this case will probably have to be arbitrated in Denver, Colorado.

This broker has pointedly stated that he would not assist me as per our previous arrangements and has ignored my account to the point where charges have defrayed my positive balance into a negative and I am incurring margin charges besides my equities taking a massive beating.

Va
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  • Jo
      6th of Apr, 2009

    My experience, exactly. Throughout this entire debacle I have not received any guidance, suggestions, insight support or guidelines. I asked very early on two questions: 1) which of the companies I am invested in are likely to be able to keep on doing business and pay their dividend? The only answer I got was " IBM has a very solid balance sheet and no debts". ( I didn't own IBM)
    and 2) I asked which of my municipal bonds might be in danger of default, and again, the answer I got was very vague. I ended up researching some of them myself.

    Kiplinger magazine stated in a article that if one's financial advisor was any good, his/her clients should never do as badly as the market. Well, I did as badly as the market ( even was not discouraged from selling out near the bottom ), and I am mad. I think a class action suit might be in order. But, like you, I am asking, where does one start?

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