Life insurance agents and securities brokers are professionals subject to a standard of care which, if violated, will subject them to liability to their clients. Some common examples of agent or broker malpractice are:
- Unsuitable investment recommendations
- Recommending investments without appropriate professional licensing or knowledge
- Improper design of life insurance policies
- Improper designation of ownership of life insurance policy
- Advising client to borrow money to purchase life insurance
- Unsuitable annuity recommendation
- Failure to explain risk
- Failure to provide documentation
- Failure to properly document transactions
- Failure to supervise investment transactions
- Distribution of unapproved literature
- Incorporating contradictory terms into an annuity
Some investment or insurance professionals may be subject to fiduciary standards. This means that they must place the interest of their clients above their own interest. If they place their own interests above that of the client, they are not only liable for damages the client sustains, but for punitive damages as well.
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The Law Office of Benjamin Blakeman is a civil litigation practice with particular emphasis on life insurance, annuities, securities, investment and broker/financial advisor liability issues in Los Angeles, California and surrounding areas including Beverly Hills, West Hollywood, Santa Monica, Pasadena, Culver City, Encino, Woodland Hills, Manhattan Beach, Burbank, Hermosa Beach, Toluca Lake, Brentwood, Westwood, Bel Air and Sherman Oaks.