Elder Financial Fraud Attorneys

Senior investors are the number one target of financial fraud. Retirement savings built over a lifetime can be wiped out by unscrupulous brokers in months. The Frankowski Firm fights back.

Call 888-741-7503

The Problem

Why Seniors Are Targeted

Senior investors often have significant accumulated savings and may be less familiar with complex financial products. Unscrupulous brokers exploit this — recommending high-fee, high-commission products that devastate retirement savings.

FINRA has made elder financial exploitation a top enforcement priority. Enhanced suitability rules require brokers to give special consideration to the needs of senior investors, including their limited time horizon and need for income and liquidity.

When a broker sells an illiquid, complex, or high-risk product to a senior investor without considering these factors, they have violated FINRA rules — and you have a claim.

Unsuitable variable annuities

Long surrender periods and high fees are devastating for seniors who need income and liquidity. Selling these products to elderly investors is a FINRA suitability violation.

Unsuitable alternative investments

Non-traded REITs, private placements, and other illiquid products sold to seniors who cannot afford to have their money locked up.

Excessive trading of retirement accounts

Churning IRA and 401(k) accounts of elderly investors to generate commissions on money they cannot afford to lose.

Ponzi schemes targeting retirees

Fraudulent investment schemes disproportionately target seniors with promises of safe, steady income — and wipe out lifetime savings.

Inappropriate margin accounts

Putting senior investors into margin accounts that amplify losses is a common form of elder financial abuse.

FINRA Protections

Rules Specifically Protecting Senior Investors

FINRA Rule 2111 — Suitability: requires consideration of age and time horizon
FINRA Rule 4512 — Customer account information must include age
Regulation Best Interest — heightened standard of care for retail investors
FINRA Senior Investor Protection Rule — trusted contact requirements
Florida and Alabama state elder financial exploitation statutes

The laws protecting senior investors have never been stronger. If you or a loved one lost retirement savings to broker misconduct, contact us immediately. There are strict time limits on filing claims.

Call 888-741-7503