September 14, 2021

Do I Need a Lawyer Before Investing?

A great way to meet your financial goals is to build a diversified investment portfolio with a tolerable risk level. There are many different types of investment options depending on your financial situation and risk tolerance. Common examples of investment options include savings accounts, retirement accounts, stocks, bonds, and dividends. There are many risks and rewards as an investor, and it's important to understand what you are getting into before tying up your money.

Legal issues do arise in the investment service industry.

There may be a scenario in which there is a dispute over an investment, a conflict between an investor and their financial advisor, or a violation of the law. You may seek legal advice if you disagree with how a corporation is distributing shares or stocks. You may need an attorney if you are unable to access certain funds.

There are certain pieces of information that a broker or financial advisor must legally disclose to investors before making a purchase or risk a fraudulent investment. Financial advisors have a fiduciary duty to manage investment portfolios and make investments promptly. A breach of this fiduciary duty can result in an investor raising a lawsuit for liability or malpractice.

When you face wrongdoing that merits legal action, it's important to seek legal advice from an experienced law firm. Jacoby & Meyers, LLP is a personal injury law firm offering straightforward legal guidance to accident survivors across New York. Each potential client who comes to Jacoby and Meyers receives a free consultation to determine the best course of action. As one of the largest personal injury law firms in New York, the experienced attorneys represent victims of construction, pedestrian, rideshare, motorcycle, and car accidents, nursing home abuse and neglect, and product liability accidents. From minor to severe injuries, the personal injury attorneys will treat your personal injury case with compassion.

What's a financial investment lawyer?

A financial investment attorney can provide a range of legal services and legal tasks depending on their specialty. One popular type of practice area is tax law and assistance with filing taxes and understanding tax regulations. Another practice area is trust and estate. An investor looking to build a long-term financial plan can benefit from the legal services of an attorney who specializes in insurance and annuities. Another vital practice area that investment attorneys specialize in is banking matters. These attorneys help clients with legal issues related to bank documents and disputes with traditional banks and lenders, and offer advice on federal and state regulations related to banking.

What is investment advice?

Whether you are a new investor or a seasoned investor, it's always a good idea to seek investment advice. You can pay for professional investment advice from a financial planner, advisor, or attorney. You can also leverage a personal finance website that's dedicated to all things investments.

Wealth Rocket is a personal finance site tailored to those who need advice creating a financial plan that aligns with their financial goals. The site offers a comprehensive review of Wealthsimple, a robo-advisor providing financial tools to Canadian investors with limited experience devising an investment strategy. The Wealth Simple review shows the pros and key features of each main investing product. Wealthsimple Invest is a robo-advisor with several account types for hands-off investing. The discount brokerage Wealthsimple Trade facilitates self-chosen stock trading. Wealthsimple Cash is a hybrid bank account combining the high interest rate of a savings account with the flexibility of a checking account so investors can spend and save.

Wealthsimple Crypto is a cryptocurrency trading platform that supports the buying and selling of Bitcoin and Ethereum. When it's time for tax season, Wealthsimple Tax is an automated tax-filing service that prepares tax returns. There are several key features of Wealthsimple. No matter your financial situation, there is no minimum investment requirement. Individual investors won't be charged any additional fees through Wealthsimple Invest, nor are there inactivity fees or an annual fee. Their socially responsible investing and Halal investing options are ideal for those investors who value ETF packages.

The key to building a balanced portfolio is to understand the risks and rewards of each investment type.