Specifically I mean advice between friends, not advice from a licensed adviser.Are people sued for giving bad financial advice?
In the USA you can sue anyone for any thing. But normally only licensed people are held liable for illegal investment guidance. Bad advice is not illegal.Are people sued for giving bad financial advice?
I would seriously doubt it since even the licensed financial advisers are giving only advice to the best of their knowledge and abilities and unless it can be proved to be fraudulent or he is knowingly lying - the risk is yours, not his.
No. If your friend isn't a financial adviser it's your own fault for listening.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment