Legal Question in Civil Litigation in Maryland

ethics

i have lived with a gentleman for 15yrs. In his will he was leaving me 65% of his estate. We both used the same financial advisor who told him that he should take me out of his will as I had ''plenty of money''.So he did. (of course I immediately changed advisors.

What recourse do I have against the advisor.?I am 75 yrsa nd my gentleman friend is 80. SO it is an immediate issue


Asked on 4/30/08, 7:14 pm

2 Answers from Attorneys
G. Joseph Holthaus III Law Offices of G. Joseph Holthaus

Re: ethics

You and your mate should consider speaking with an attorney to prepare an estate and elder law plan rather than seek an action against a financial planner for allegations of poor advice.

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Answered on 5/01/08, 1:10 am
Robert Sher Wagshal and Sher

Re: ethics

I think it was unethical for the adviser to give such advice to your friend since he was an adviser to both of you. I don't know to what extent you shared personal financial information with your friend, but the adviser clearly relied on his knowledge of that information to advise your friend re his estate plan. But I don't think you have any grounds for legal action. After all, your friend didn't have to take his advice. If there is some organization that promulgates ethical guidelines for financial advisers to which he belongs, you might consider filing an ethics complaint.

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Answered on 5/01/08, 2:50 pm


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