Dealing with the impact of a significant stock loss can be difficult to bear. When broker negligence is involved, get help recovering these losses by contacting a stock loss lawyer in Miami who can assist you in filing a FINRA arbitration claim against your negligent stockbroker.
Unfortunately, broker misconduct and that of financial planning companies and brokerage firms happens all too often. Some shady stockbrokers will swindle money out of investors both of their own accord and at the orders of their institutions.
Thankfully, the Financial Industry Regulatory Authority (FINRA) recognizes this and therefore provides wronged investors with the opportunity to secure repayment of these losses.
Though you are under no legal obligation to be represented by an attorney as you pursue your arbitration claim for stock losses, having a seasoned Miami stock loss lawyer by your side can make the claims process significantly easier.
Our team at Wolper Law Firm, P.A. always puts the best interests of investors first, so you can be sure that your Miami attorney is doing everything possible to build you a strong arbitration claim.
Common Types of Stockbroker Misconduct Leading to Losses
Negligence and misconduct run far too rampant within the financial and securities industries.
Despite the fact that registered stockbrokers are required to uphold their fiduciary duty, meaning they must always act in the best interests of their clients, some continue to prioritize their own financial gain above that of their investors. In some cases, they are even encouraged to do so for the benefit of their brokerage firm or financial planning institution.
Oftentimes, a broker can get away with these schemes, as the investor will chalk their losses up to the risk they take with any kind of investment. Unfortunately, in some cases, it isn’t until a Miami investor suffers devastating losses that the extent of the misconduct comes to light. Some of the more common types of misconduct that investors endure include:
- Unauthorized trading
- Excessive trading (churning)
- Failure to supervise
- Failure to diversify
- Unsuitable investment recommendations
- Selling away
These are only a few of the more frequently seen ways that stockbrokers can cause an investor to lose money on the stock market. If you’ve been wronged in some other way by your broker, you can speak with an investment loss attorney in Miami for help recovering your losses.
What to Do if You’ve Suffered Losses on the Stock Market
Smart investors know to expect losses on occasion when investing in the stock market. But these losses should never occur due to the conduct of your stockbroker. Thankfully, FINRA provides a few different opportunities for you to be repaid for these losses.
You can always start out by attempting to pursue mediation in Miami. However, the party that wronged you would need to agree to do so before this was a valid option. The good thing about mediation is that the majority of cases that go before a mediator are resolved with a settlement in favor of the investor.
But in some cases, your broker may be rigid in their claims of innocence and refuse to settle, or their brokerage firm may deny any liability whatsoever. When this happens, FINRA arbitration may be the better option for you.
Your FINRA Arbitration Hearing for Stock Losses
Going to arbitration is an excellent option for those who have endured massive losses and want to not only recover these losses but hold accountable the person responsible for defrauding them. The decision in your arbitration claim, if in your favor, can be reflected on the broker’s BrokerCheck profile, which could help to warn future investors of the broker’s misconduct.
Arbitration works similarly to a court trial in that both parties will present evidence to support their case; this means your broker and/or their firm will have the opportunity to refute your claims.
But arbitration is different from court in that the decision delivered by the arbitrators is final, meaning there is no opportunity for it to be appealed. However, arbitration is generally far less expensive and can often be resolved within 18 months, making it a more attractive option to some investors who are anxious to recover their stock losses.
Speak with a Stock Loss Attorney in Miami
To learn more about how a qualified Miami stock loss lawyer at Wolper Law Firm, P.A. can help you get FINRA to award you maximum repayment for the misconduct of your broker, schedule a confidential consultation with one of our attorneys.
Your case review won’t cost you a penny, and you can schedule it by giving our office a call at 800.931.8452 or submitting the brief contact form included at the bottom of this page.