In January, 2013, “OnWallStreet” identified Scott as one of the ten power players in the United States who will have an impact on the investment advisory industry in 2013. Here is a recent interview with Scott.
In November, Scott Ilgenfritz became President of the Public Investors Arbitration Bar Association (PIABA), an international bar association whose members represent investors who have suffered investment losses. PIABA promotes the interests of the investing public regarding regulatory and rulemaking activities of the Securities and Exchange Commission and other governing bodies and it fights for investor rights and education. Five years before his election as President, Scott began serving on PIABA’s Board of Directors.
Q: How and when did you get started representing investors?
A: I began representing investors in securities claims over 20 years ago. The defective and fraudulent products that Wall Street had foisted on the investing public at that point in time were limited partnerships. I worked with my partner, Guy Burns, on a number of limited partnership cases in the early nineties, and I have been representing investors ever since.
Q: What’s involved in that practice?
A: There is a wide variety of claims available to investors who have lost money. The most common claim is based upon the recommendation of an unsuitable or inappropriate investment by a broker or advisor. Other types of claims include defective investment products, excessive trading, and misrepresentations concerning the risks and characteristics of investments.
Q: What is the most common misunderstanding investors have about their rights?
A: Most people who invest for their retirement or other purposes think that because the stock market goes up and down, they do not have a claim to recover their losses. Investors do not realize that they can sue their stockbrokers and brokerage firms for losses incurred due to negligence for recommending the wrong stocks or investments.
Q: Who are your typical clients?
A: Many of them are retirees or are people approaching retirement, but persons of any age or professional status can suffer investment losses as a result of unsuitable investment recommendations or other broker misconduct.
Q: What should someone do if they think they may have a claim?
A: Give me a call. I do not charge a fee to review someone’s potential claim, and I handle most cases on a contingency basis.