Tips to Protect Your Nest Egg

Debra G. Speyer principal of Speyer Law helps individuals and pension funds recover money from brokerage firms and investment advisors who sold questionable or unsuitable investments.

Most at risk for harmful investment advice? Retirees and Pre-retirees seeking guidance for retirement funds and 401k distributions. Speyer Law provides the following tips to keep your investment funds safe:

-- Beware of financial advisors who recommended a lump sum distribution with a promise your principal will be maintained. Speyer cautions, "Retirees must be aware that it can be risky to take a lump sum." 

-- If your goal is safe, low risk investments and you see a questionable purchase, Speyer advises immediately to contact the office's branch. 

-- Do not trade in your annuity for a similar one without knowing the commission your broker makes and the reasons for the change. Traditionally annuities are high commission instruments. 

-- The adage "maintain diversification" could not be more true than in today's volatile market. 

The numbers of retirees in the US is exploding. According to the 2010 Census, those who are 65 plus now exceed 35.4 million and by January 2011 the first 77 million baby boomers are heading toward retirement with retirement funds in tow. 

Make sure your investment advisor is focused on your retirement, not theirs, advises Speyer. Another notable and widespread concern for retirees is stockbroker overlooking suitability for their age and circumstances.

"If your broker didn't take your personal suitability into account, you may have a case," says Speyer. "And this is especially egregious to retirees and seniors," she adds. 

Speyer Law has a history of recovering millions of dollars for their clients who have lost money resulting from mismanagement of 401K distributions and lack of suitability. 

If you wish to discuss your particular situation, please contact Debra Speyer at Speyer Law at 800-510-7862 or visit www.wallstreetfraudblog.com . She has been quoted in over 250 periodicals and is a legal commentator for radio and television including CNN, NBC, Fox News and The Wall Street Journal Radio. Speyer is an adjunct law professor at Drexel University, Philadelphia. Speyer Law is a national law firm handling securities law, elder law and estate matters.

SOURCE:http://www.marketwatch.com/story/tips-to-protect-your-nest-egg-securities-attorney-debra-g-speyer-of-speyer-law-warns-retirees-pre-retires-about-questionable-broker-activities-2011-10-12