Reed v. Regions Bank

I agree fully with the trial court.

The law imposes duties on investment advisors in relation to their interactions with prospective investors. These include the duty not to make false representations *322as to the nature or quality of securities currently held or to be held by a given fund. If a misrepresentation is made by an investment advisor to a prospective investor that induces the prospective investor to invest in a fund it otherwise would not have invested in, there may be an actionable claim by the investor based on the duty running from the investment ad-visor to the individual…