A Dumont-like Horror

Stock concentration cases against fiduciaries just keep getting scarier. The latest fright comes from Hamilton County, Ohio. If the New York case of Dumontsent chills down advisors' spines, Ohio's Fifth Third Bank v. Firstar Bank, No. C-050518 (Sept. 1, 2006), should give them nightmares. In Dumont, the fiduciary had years to diversify a portfolio and failed to do so, despite a beneficiary's entreaties.