In some situations, a broker can be deemed to be a “fiduciary” for his or her customers. Generally speaking, a fiduciary is someone who has undertaken to act for and on behalf of another person in a particular matter in circumstances which give rise to a relationship of trust and confidence. A fiduciary relationship may exist whenever one person trusts in and relies upon another.

To prevail on a legal claim for breach of fiduciary duty, you generally must prove the following three elements:

  1. Your broker owed you a fiduciary duty;
  2. Your broker breached his (her) fiduciary duty; and
  3. Your broker’s breach of his (her) fiduciary duty caused your damages.

If you think you might be the victim of broker wrongdoing that constitutes a breach of fiduciary duty, contact Jacobson Law P.A. to discuss the specific facts of your case.