Brokerage negligence and mismanagement

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jkruvi

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I have a discretionary brokerage account with a very large known firm with portfolio of over $1m in assets. portion of the portfolio is invested in securities which lost 45% in less than one year. they have been using a strategy of covered calls but obviously with months on end of ongoing decline of the stock market this has not prevented the above loss. Shouldn't I be able to sue for negligence and mismanagement as if they were using the simple Stop Loss orders it would have prevented the large loss. Obviously they saw that their covered call strategies were not working month after month?
Isn't it their fiduciary duty in a discretionary account? thank you
p.s. when I asked the question above I was advised that they work with a certain strategy i.e. covered call with a segment of their clients.
 
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