Wanton Disregard

DEFINITION of 'Wanton Disregard '

A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly. Wanton disregard is not malicious, but it is more serious than carelessness. Wanton disregard can be used as evidence of gross negligence. In a lawsuit, wanton disregard might result in punitive damages depending on the severity of the situation and state laws.

BREAKING DOWN 'Wanton Disregard '

For example, let's say that a financial advisor at a large firm uses the company's online database to store sensitive information about his clients. The database is hacked and a client's identity is stolen. The client tells his financial advisor that he thinks his identity was stolen through the financial advisor's firm. The financial advisor notifies the appropriate people within the company, but they do not correct the problem. This would be considered wanton disregard because while the company is not intentionally or maliciously exposing its clients' sensitive financial data, but it is recklessly ignoring a problem that it has been made aware of.



RELATED TERMS
  1. Fee-Based Investment

    An investment account in which the advisor's compensation is ...
  2. Investment Advisor

    As defined by the Investment Advisors Act of 1940, any person ...
  3. Know Your Client - KYC

    A standard form in the investment industry that ensures investment ...
  4. Financial Adviser

    A professional who helps individuals manage their finances by ...
  5. Personal Financial Advisor

    Professionals who help individuals manage their finances by providing ...
  6. Consumer Liability

    The accountability put on consumers to not act in a negligent ...
Related Articles
  1. Financial Advisors

    3 Reasons to Fire Your Advisor

    There is no reason for a client to stay with a financial advisor who is not serving his or her needs. Here are some red flags to look out for.
  2. Financial Advisors

    Losing a Client Is Not Always The End of The World

    Losing a client is never pleasant for a financial advisor, but sometimes this is a better outcome than continuing the relationship.
  3. Your Practice

    How Advisors Can Keep Clients for Life

    Attracting good clients is only half the battle. Here's how financial advisors can keep them for life.
  4. Financial Advisors

    Advisors Need to Talk Less, Ask and Listen More

    Financial advisors spend a lot of time giving their clients advice on how to invest their money. But what they often forget to do is listen.
  5. Your Practice

    Why Clients Leave Their Advisors

    Clients fire financial advisors for many reasons. Here's a rundown on why they're likely to do so and how to avoid losing any from your roster.
  6. Professionals

    A Financial Advisor’s Job Is Not to Beat the Market

    Understand what the real job responsibilities of a financial advisor are, and why they do not include picking investments that beat the market.
  7. Investing Basics

    7 Steps To Evaluate A Financial Advisor

    Looking to hire a financial advisor but unsure what you want or need? Follow these seven steps.
  8. Financial Advisors

    Advisors: Avoid these Common Mistakes

    Every financial advisor should work hard to avoid these common missteps.
  9. Financial Advisors

    Management Fees: How Advisors Can Protect Them

    With management fees falling, advisors are wondering what they can do about it. Here are a few tips.
  10. Investing News

    Educating Your Clients About Cybersecurity

    Financial advisors must lead the charge against cybersecurity risks, for their clients and for their own practices.
RELATED FAQS
  1. Do financial advisors work only in banks?

    Learn how financial advisors are employed not only by various financial institutions, such as banks, but an increasing number ... Read Answer >>
  2. What fees do financial advisors charge?

    Learn how much financial advisors charge clients; discover the various payment plans available to customers seeking financial ... Read Answer >>
  3. Do financial advisors have a base salary?

    Find out how self-employed and corporate financial advisors make a living. Find out whether they get paid based on commission ... Read Answer >>
  4. Do financial advisors have to find their own clients?

    Understand why financial advisors often have to find their own clients, and identify the specific lead generation methods ... Read Answer >>
  5. How quickly should my financial advisor sell a stock that I have asked him or her ...

    Financial advisors and planners have fiduciary responsibilities to their investors. They owe their investors a high degree ... Read Answer >>
  6. Do financial advisors prepare tax returns for clients?

    Find out how financial advisors are often involved in tax planning and tax return preparation for their clients as well as ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center