Emily Chan
Around the time Beverley filed her complaint, the bank dismissed Evan and Avi, stating that “their actions do not represent the values of our firm.”
The grandsons’ lawyer said that Evan and Avi did not believe the ruling was consistent or fair based on the evidence presented during the FINRA hearing.
Most of the time, investors going through FINRA arbitration don’t win any money. Even if investors receive money, much of it will have to go toward lawyer’s fees and other expenses.
Beverley’s case serves as a warning for financial abuse of elders. It’s important to keep a close eye on brokers to ensure that your older family members do not become victims.
