Losing money through investments is common, but if your stockbroker’s misconduct caused you to endure substantial losses, an experienced investment loss lawyer in Miami may be able to help.
Investors know that they are taking a risk every time they invest, but you should be able to trust that your broker or financial planning firm is prioritizing your needs and goals as outlined in your investment portfolio.
Unfortunately, some stockbrokers will put their need for financial success before your best interests. But you can bring them to justice by pursuing a FINRA arbitration claim to recover full repayment of your investment losses.
At Wolper Law Firm, we are dedicated to assisting wronged investors throughout the arbitration process from start to finish so they can seek maximum compensation for all their broker put them through. Your Miami investment loss lawyer will be prepared to argue your case before the Financial Industry Regulatory Authority (FINRA) so you can ideally be repaid for your stock losses and other damages.
How Investment Losses Occur
Investment losses can occur in a variety of ways. Sometimes, they occur simply due to the fluctuation of financial markets. That is simply a risk you take when becoming an investor. However, you certainly didn’t begin investing and working with your Miami brokerage firm or stockbroker with the understanding that your broker would be taking advantage of you to further their own financial interests.
Some stockbrokers are clever in figuring out ways to defraud investors in order to increase their commissions and the money earned by their financial institution. Some of the most common types of investment fraud include:
- Failure to diversify
- Unauthorized trading
- Failure to supervise
- Selling away
How to Recover Your Investment Losses in Miami
Obtaining repayment for your investment losses in Miami can be a challenge, but is not impossible. The good news is that most types of investment fraud leave a trail of well-documented evidence of the scheme in question. There are several options available to wronged investors, some of which include mediation and FINRA arbitration.
If you are hoping to avoid a hearing, mediation may be the better option for you. But before you can go through mediation, the other party will need to agree to participate. If they don’t, and suing your stockbroker isn’t a good choice for you, FINRA arbitration may be your best option.
Generally speaking, when you attend mediation, a mediator will be present and listen to both parties discuss their version of events. The entire purpose of mediation will be to come to a settlement that satisfactorily repays you for the losses you endured. Fortunately, approximately 80 percent of all mediation cases will be resolved with a reasonable settlement.
Those that aren’t as successful can be further pursued in FINRA arbitration.
Everything You Need to Know about Your FINRA Hearing for Investment Losses
If you decide to proceed with FINRA arbitration, your first step will be to file a complaint, or a statement of claim. This will include details about the losses you endured, how you believe the losses occurred, and other details relating to your investment loss case. Once your statement of claim has been received, FINRA will assign you a hearing date.
Prior to the hearing, your Miami lawyer will be gathering evidence to support your case, including fact witnesses, expert witnesses, financial records, conversations between you and your stockbroker, and any other supporting evidence.
Your hearing will be heard by independent arbitrators. The number of arbitrators will depend on how significant your losses were. Relatively smaller losses might be heard by only one arbitrator, while more substantial losses could require a panel of three arbitrators. The hearing itself will be quite similar to going to court in that both parties will present all of their evidence before the arbitrators.
After the evidence has been presented and both parties heard, the arbitrators will review the case in its entirety to determine if their decision will come down in your favor. It is important to note that once a decision has been reached by the arbitrators, it is final and cannot be appealed.
Get Help from an Investment Loss Lawyer in Miami
If you are ready to take legal action against the brokerage firm, stockbroker, or financial planning institution responsible for causing your investment losses, a reputable Miami investment loss lawyer at Wolper Law Firm could make all the difference in the success of your case.
To further discuss your legal options for financial recovery, simply give our office a call at 800.931.8452 or complete the quick contact form located at the bottom of this page and schedule your completely free and confidential claim evaluation.