ERISA Laws Lawyer
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ERISA is short for Employee Retirement Income Security Act of 1974, which is the federal law that governs employee benefits. ERISA pertains to pension plans, profit-sharing plans, and 401(k) plans.
Business owners and managers who are trustees or administrators of employee retirement plans are considered legal fiduciaries who owe a duty to the employees who have their money invested in the company’s 401(k) or other retirement plans. These duties include investigating and evaluating investments in the plan, diversifying investments in the plan to minimize risk of loss, and to otherwise handle the investments in a prudent manner.
Many business owners and managers are not qualified or capable of properly evaluating investments, so they delegate such duties to investment professionals. When that happens, the brokers and brokerage firms assume the above-mentioned duties.
Did your business’s ERISA plan lose value resulting in losses to your employees? Have your business’s financial advisors, such as stockbrokers, mishandled the monies that were to fund your employees’ retirement accounts? Your broker may be liable. Call Dimond Kaplan & Rothstein, P.A. today for a free consultation to review your rights and options.
Some ERISA plans and their participants suffer investment losses when the stockbroker or brokerage firm makes unsuitable trades, makes excessive trades or churns the account, or over-concentrates the investments in a single security.
Contact an ERISA Regulations Lawyer
If your employee retirement plan suffered investment losses due to stockbroker or brokerage firm misconduct, Dimond Kaplan & Rothstein, P.A., may be able to help you. Discuss your ERISA plan-related investment losses associated with unsuitable investment actions by your stockbroker or brokerage firm.
Contact us to schedule a consultation with a West Palm Beach or Miami ERISA laws attorney. Our Miami, West Beach and Ft. Lauderdale area ERISA fiduciary duty law firm serves clients from throughout Florida, throughout the U.S. and throughout the world.