Quote:
Originally Posted by Gpsma
Without any details, i think it would be speculative to assume that just because these high risk investments were sold to retired seniors that Mr Whitaker did something wrong. There are many retired seniors down here with substantial portfolios where a high risk investment may be appropriate given their risk tolerance.
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It doesn't make any difference how much money a person has to invest, if they are not properly advised then Whitaker did wrong. In my case there was not much money to be taking risks with and, my wife and I, specifically told Michael L Whitaker that we did not want to be in any high-risk stock, bonds, or anything where we could suffer a loss of principal. I, personally, have been on to Michael L Whitaker for several years when he screwed up my son's meager investment after having been given instructions on his risk tolerance. We even approached Whitaker with our concerns several times and his reply was that our investments were NOT invested at high risk.