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"My mother (60) hired an investmeny manager, regretfully, to manage her retirement account. At first, he put all of her money in high-risk categories. I forced him to change that. Then, he put all of her money in Money Markets. "

I can relate but I think the answer lies not in trying to force the investment manager to second guess what you want but to learn what makes sense for your mother
and then direct your mother's investments.

My mother is over 70 before I got involved. My delay was due to my inexperience and lack of knowledge. Her investment advisor sold her deferred annuities within an IRA in 1993. My mother was impressed with his chart showing how HIS annuity would be so much better than CDs where the interest is taxed. Well, the interest on CD's in IRA are not taxed anymore than the compound interest from the annuity would not be taxed. So he was basically comparing apples to road apples and how much better his annuity apples would taste compared to road apples.

My mother really has no idea what would make a reasonable, risky, or conservative investment other than what someone tells her.

And it's unlikely that you can take legal recourse - the best recourse is to figure what your mother should do now.


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