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Hi I am in a quorps which i wanted to cash in. I asked my advisors if i can cash in and they said under no circumstances.

Usk, WA |

I then contacted another advisor who stated that it was possible to cash in this fund which i now have done. The answers given by my current independent advisors was a total miss truth. do i have a case against them.
The fund was only small 55,000 uk pound but i had to pay a second advisor to arrange this for me. When i contacted Montpellier about the transfer being possible they never returned my emails. However i do have an email from them stating that it was not possible until i was 55 years of age and then only 25% as lump sum.

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Attorney answers 1


Generally, your financial advisor owes you a duty to amoung other things answer questions truthfully and accuratelly. In some states in the U.S., he or she may owe you a fiduciary duty. If your damages result from your reliance on your advisors negligent or intentinally inacurate information about your investments, as they appear to have in this case, you may have a case against them for negligence amoung other claims. Most attorneys in this area will take cases such as this on contingency if the damage amount is at or near $100,000.00. It does not sound like your damages are in that area, thank goodness. If the damage amount is small, you may want to hire an atty. hourly or attempt to mediate a settlement youreself with your advisor. Your claim may be subject to mandatory arbitration as well, depending upon your agreement.

Legal Disclaimer: Mr. Carlson is licensed to practice law in California. The response herein is not legal advice and does not create an attorney/client relationship. The response is intended as legal education and to provide general information about the matter within the question.

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