Annuities aren’t suitable for every investor. If you were conned into inappropriately investing in an annuity and suffered serious losses because of this, a lawyer knowledgeable in annuity fraud may be able to help you initiate a complaint.
Every investor has their own goals for their investment portfolio. Some of the most common types of investment opportunities are annuities. However, annuities are not appropriate for all investors; in fact, they are only suitable for certain types of investors.
If you invested in an annuity and realized that you were never going to see any gains, or suffered massive losses due to an annuity investment, you may be able to file a complaint with the Financial Industry Regulatory Authority (FINRA) seeking full recovery of your losses.
We understand that you may be feeling intimidated and are overwhelmed at the thought of moving forward with arbitration proceedings. But when you have an experienced annuity fraud lawyer at Wolper Law Firm on your side, your chances of winning in arbitration may be significantly increased.
What Are Annuities?
An annuity is an insurance contract that provides you with regular payments once the annuity has matured. This is a great way to ensure that you have an income after you retire and can ensure that your retirement savings are protected.
However, while this may sound like a wonderful opportunity, purchasing annuities is not always appropriate for every investor. In order to purchase an annuity, you must typically put up most or all of the funds up front.
Then, the annuity doesn’t mature for a period of time, usually anywhere between fifteen and thirty years. For this reason, annuities are not generally suitable for senior investors who may not be able to reap the benefits of their annuity.
How Does FINRA Arbitration Work?
In the case of annuities, if your stockbroker failed to provide you with all of the necessary information prior to your purchase of the annuity, or if they encouraged you to purchase an annuity that was not suitable for you, you may be able to recover your investment in FINRA arbitration.
Here, you will have to present evidence to support your case. Then, your financial advisor will have to provide a reasonable explanation for encouraging you to purchase an annuity.
If your arbitrators determine that your financial advisor has wronged you, they may order them to repay you within thirty days of the decision. Your lawyer can give you more information about what to expect from your FINRA arbitration hearing.
Contact a Reputable Lawyer Regarding Annuity Fraud
If you are ready to get started on your FINRA arbitration complaint but aren’t sure where to start, contact an annuity fraud lawyer at Wolper Law Firm to discuss the details of your case. We can be reached through the quick contact form included below or by phone at 800.931.8452 to schedule your free no-obligation case review.