Can I Sue My Financial Advisor?

Are you an investor who has recently suffered a massive financial loss? If so, you may be wondering whether you have the right to sue your financial advisor. Read on to learn more about how a qualified stock loss lawyer may be able to help you obtain compensation for your losses.

Investors are always at risk for losing money on the stock market or through other investments. But when investment losses are caused by the actions of their financial advisor or stockbroker, the Financial Industry Regulatory Authority (FINRA) provides opportunity for wronged investors to recover their losses through arbitration proceedings.

A respected investment loss lawyer at Wolper Law Firm, P.A. could help you obtain full compensation for the investment losses you have suffered due to the negligence or misconduct of your financial advisor. Stop asking, “Can I sue my financial advisor?” and start taking action today.

When Are Stockbrokers Responsible for Investment Losses?

Registered stockbrokers and financial advisors have what’s called a fiduciary duty to their investors. This means that they must always act in the best interests of their client and within the goals and objectives of the investor’s investment portfolio.

Any time a stockbroker or financial advisor engages in misconduct, negligence, or fraud, they can be held accountable for the investment losses that may occur. Some of the different types of stockbroker fraud and negligence include:

  • Unauthorized trading
  • Misrepresentation
  • Making unsuitable recommendations
  • Selling away
  • Lack of portfolio diversification
  • Excessive trading, also called churning
  • Omission
  • Failure to supervise

These are just a few instances in which a broker may be held accountable for an investor’s stock losses. If you have been a victim of any of the previously mentioned types of misconduct or another type of fraud that has not been listed above, reach out to a stock loss lawyer to discuss your options for financial recovery.

Preparing for Your FINRA Arbitration Hearing

After suffering such considerable investment losses, you may be overwhelmed at the thought of initiating a FINRA arbitration request. Fortunately, your lawyer will be responsible for gathering the evidence needed to support your case and presenting the evidence before the panel of arbitrators.

Any financial documentation you may have, correspondence with your financial advisor, and other relevant evidence that you can provide to your lawyer can only benefit your case.

In your hearing, once your lawyer has presented your case, your broker will then have the opportunity to attempt to defend themselves and the decisions they made in regard to your accounts. If the panel of arbitrators decides that fraud or negligence has occurred, you can expect that the broker will be ordered to pay you restitution for your investment losses, often within 30 days of the decision.

Contact a Respected Stock Loss Lawyer

You don’t need to keep asking “Can I sue my financial advisor?” Learn more about how an experienced investment loss lawyer at Wolper Law Firm, P.A. could help you through this difficult time in your life. Complete the quick contact form provided at the bottom of this page or give our office a call at 800.931.8452 to schedule your free, no-obligation consultation.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]