Are bank trust departments and bank brokerage firms a safe place to invest your money?

Stockbroker Law - Friday, January 07, 2011
Are bank trust departments and bank brokerage firms a safe place to invest your money?

In the past ten years, a number of large upstate banks have aggressively pursued the sales of speculative variable annuity, trust services, and investment product sales to bank depositors, who had formerly been invested primarily in safe certificates of deposit and other cash-nominated investments.  Unfortunately, many bank depositors are lulled into a false sense of security that the product sold by a bank is likewise as safe as a bank deposit. 

We have represented a number of individuals who have lost a considerable portion of their life savings through the wrongful suggestion of illiquid, speculative, and inappropriate investment products by bank affiliated brokerage firms.  We offer a free initial consultation to depositors and investors who have been victimized through inappropriate sales practices of bank-affiliated brokers.

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