Thoughts on this...

[DVCisME]

Curious how people feel about this...

Sister sues brother and his brokerage - and wins $608k award


http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20100208/FREE/100209861

 

[Ceila]

Without any additional information beyond what the article stated, it sounds like the brother and the firm he works for mismanaged his sister's and her husband's money, and they were held accountable for it. It's unfortunate, but if that was the only way the couple could get their money back, then I don't really have a problem with it.

 

[DVCisME]

Do you have to have any certfication to work as a broker?

I agree with what the sister did and think that her award is justified.

 

[Jrsy Boy]

I see awkward holiday gatherings in the future...

 

[freckles and boo]

It sounds like he took risks with family that he wouldn't have taken with anyone else. It bit him in the butt.

 

[Kies99]

I work in the financial industry.

Just based on the information in the article, it would have been virtually impossible to loose that much over 3 months if they truly were after long term growth.

If they were after long term growth then it seems to me the brother was doing something he shouldn't have been doing and the arbitrators agreed and awarded the damages.