Yes, it’s possible that an investment advisor could be sued if clients lost money due to their advice and felt that the advisor should have offered a reverse mortgage as a way to supplement their income, particularly if it was a suitable option for their situation and the advisor failed to present it. Here’s a breakdown: Why an advisor might face a lawsuit in such a scenario:

• Duty of care: Financial advisors have a responsibility to act in the best interest of their clients, which includes providing suitable investment advice based on their client’s individual circumstances, risk tolerance, and financial goals.
• Suitability: If a reverse mortgage could have been a suitable solution to address income shortfalls or financial distress, and the advisor failed to consider or discuss it, it could potentially be seen as a breach of their duty of care.
• Negligence: If the advisor’s actions (or lack thereof) are found to be negligent and directly contribute to the client’s financial losses, they could be held liable. 

Important Considerations:

• Reverse mortgages are complex: While reverse mortgages can be helpful for seniors looking to access home equity, they are also complex financial products with potential risks and costs. It’s crucial for clients to fully understand how they work before pursuing one.
• Financial advisor’s expertise: The advisor’s expertise and the scope of their advice are relevant. Were they primarily focused on investments, or did they also advise on broader financial planning, including housing and income solutions?
• Proof of negligence: To successfully sue, clients would need to prove that the advisor’s failure to recommend a reverse mortgage was negligent and directly caused their losses. 

In summary:If a client’s financial situation deteriorated, leading to investment losses, and a reverse mortgage could have been a viable option to supplement income and mitigate those losses, a lawsuit against the advisor is possible if they failed to consider or recommend this option. However, proving negligence and establishing a clear causal link between the advisor’s actions and the client’s losses can be challenging. It’s advisable to consult with a qualified attorney to discuss specific circumstances and potential legal recourse.