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I begged my adviser to sell amid the market turmo .. feet and I lost $20,000. Do I have any recourse?
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I begged my adviser to sell amid the market turmoil. He dragged his feet and I lost $20,000. Do I have any recourse?

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Cue the market downturn and I lost $20,000. I called again and begged him to get me out. He told me he would have my money out of the market by the end of the day — and it was. If he had moved my money out of the market weeks ago, much of my loss could have been prevented. I am frustrated and would like to be able to recoup some of my losses.
In an article on MSN, a reader recounts losing $20,000 due to their financial adviser's delay in selling investments during a period of market turmoil. The reader had explicitly requested the sale, but the adviser hesitated, leading to significant financial loss. The article, written by a financial expert, explores the reader's potential legal recourse, explaining that while advisers have a fiduciary duty to act in their clients' best interests, proving negligence or breach of duty can be challenging. The expert suggests that the reader should gather all communication records and possibly consult with a legal professional specializing in financial disputes to assess the viability of a claim against the adviser.

Read the Full MarketWatch Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/i-begged-my-adviser-to-sell-amid-the-market-turmoil-he-dragged-his-feet-and-i-lost-20000-do-i-have-any-recourse/ar-AA1CT7zr ]