Why clients win lawsuits against their financial advisors. Best Practices

There are many reasons clients win lawsuits against their advisors, and many could be avoided. Lack of communication with a discontented client can cause them to contact a legal professional or head out to the Internet and post negative remarks. Another aspect in arbitration is the inability of the advisor to explain a primary provision in a contract or proposal that was the centerpiece of the client ultimate discussion making process. Lastly, some advisors use technical financial or insurance language germane to their industries that can be misunderstood and all together untellable to a lay person. Syndicated financial columnist and talk show host Steve Savant interviews Ilya Lerma on this episode of "Let's Get Down to Business."