Investors can use the FINRA arbitration claims process or file a lawsuit separately to recover 401(k) related investment losses with Exelon (EXC) headquartered in Chicago, Illinois. Many brokers at firms like Fidelity, Ameriprise and Charles Schwab targeted former employees and retirees of this company, in order to get them to invest in securities that may not have been suitable or appropriate for retirement accounts like a 401(k) or individual retirement account. Please call Stoltmann law offices located in Chicago and Barrington, Illinois at 312-332-4200 for a no-cost review by an attorney as to whether investment losses in your 401(k) to be recovered on a contingency fee basis. There are no costs or fees unless we win.
Under the Illinois Securities Act of 1953, all recommendations to investors 401(k)s must be suitable and appropriate in terms of the financial resources of the customer. This includes taking into consideration the clients’ age, annual income, net worth, in future earnings potential.
Often the biggest asset an investor owns other than his house is his 401(k) or retirement plan. This means financial advisors must be very careful when making recommendations to retirees at Exelon. The failure to do so can make the financial advisor and or brokerage firm responsible for any losses that may have been incurred in the retirement account.