PI Financial, Hancock sued by Kelowna retiree

2023-05-30 20:45 ET - Street Wire

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“Mr. Hancock again assured him that he was experienced with such portfolios, and that Mr. Radke could expect annual returns of 10 to 20 per cent, the suit states.” Based on those assurances, Mr. Radke says that he transferred $2.85-million for Mr. Hancock to manage…Moreover, Mr. Radke was seeking a return of 15 to 20 per cent, which would not have been achievable through low-risk securities…As Mr. Radke's investments began to produce returns, he became more aggressive with his investment goals, the response states. On June 25, 2021, Mr. Radke updated his account documents to reflect his desire for higher risks. This update set the account objectives to 60 per cent in high-risk securities and 40 per cent in medium-risk investments, according to the response."

Those are pretty high expectations...almost like winning the lottery (except the purchasers of lottery tickets only risk a buck or two).

Lotsa luck with the lawsuit, Mr. Radke.