I am a licensed financial advisor. I'm new but I just had to learn about all this stuff.
You would have to prove a lack of suitability.
Very unlikely to prove a lack of suitability because munis are considered an extremely conservative investment even if it's longer duration.
The fact that you complained in writing has already started a mandatory paper trail.
If you really wanna go hard you can lodge a complaint with FINRA… you may look on brokercheck to see if this is a recurring theme with the advisor.
But generally speaking, if you'd mentioned that she lost a ton on TSLA, that would be an easy to prove suitability issue. Munis will be tougher for an older client.
This is also common. Bonds of all kinds were dismantled this year.
I also think that muni will very likely rebound in the near future.
You would have to prove a lack of suitability.
Very unlikely to prove a lack of suitability because munis are considered an extremely conservative investment even if it's longer duration.
The fact that you complained in writing has already started a mandatory paper trail.
If you really wanna go hard you can lodge a complaint with FINRA… you may look on brokercheck to see if this is a recurring theme with the advisor.
But generally speaking, if you'd mentioned that she lost a ton on TSLA, that would be an easy to prove suitability issue. Munis will be tougher for an older client.
This is also common. Bonds of all kinds were dismantled this year.
I also think that muni will very likely rebound in the near future.