Lawyers who regularly represent disgruntled clients who make allegations against financial advisors offer reassurance to the vast majority in the industry. Keep the big picture in mind and recognize that only a tiny fraction of financial advisors get sued, they say. But if a client or former client names them as a defendant in a legal complaint, financial advisors should call their compliance officer or legal advisor before doing anything else—particularly before calling the person who filed the litigation.

'BAD, BAD APPLES'

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