Broker Negligence Lawyer
Are you dealing with the aftermath of significant stock market losses? Were these losses caused by an irresponsible stockbroker? If so, a reputable broker negligence attorney may be able to help.
Investing always carries a risk, in part due to the fluctuation of the financial markets. With that being said, when you suffer a loss, it should never be due to the recklessness of your financial planning institution or stockbroker. Broker misconduct is actually quite common, as many brokers are able to pad their own wallets by taking advantage of unknowing investors.
If you have reason to believe that your stock broker’s negligence is the cause of your stock and/or investment losses, you may be able to recover your losses through a Financial Industry Regulatory Authority (FINRA) arbitration claim.
An experienced broker negligence lawyer at Wolper Law Firm can help you prepare for your hearing so you can ensure your stockbroker is held accountable for their misconduct.
Examples of Broker Negligence
The last thing an investor needs is a stockbroker who doesn’t know what they are doing or fails to do what is expected of them. This includes properly researching investment opportunities, finding trades that are a good fit for their investment portfolios, and ensuring that the investor knows the risks associated with a particular trade.
However, in some cases, financial advisors let their clients down and the result is significant losses on the stock market. Fortunately, when this happens to you, you may be able to recover these losses. Some of the most commonly seen types of broker negligence include:
- Lack of portfolio diversification
- Failure to supervise
- Excessive trading
- Unauthorized trading
How to Recover Your Stock Losses
If you hope to recoup your money, your best option is likely through FINRA arbitration. FINRA is responsible for handling stockbroker negligence and misconduct in instances such as yours.
To start, you must initiate a FINRA arbitration complaint, which outlines how your losses occurred, how much you lost, and why you believe your broker’s negligence is responsible for the losses. If FINRA determines your case warrants a hearing, they will grant one, and a panel of arbitrators will be selected.
If your losses were less than $100,000, a single arbitrator will hear your case, but if you lost more than $100,000, a panel of three arbitrators will be selected. Arbitration is quite similar to court, with two major differences. First, arbitration takes considerably less time; and second, arbitration does not allow either party to appeal the decision of the arbitrators.
Get in Touch with a Broker Negligence Attorney
To learn more about whether your stock broker’s negligence is to blame for the losses you endured, reach out to a highly qualified broker negligence lawyer at Wolper Law Firm to discuss the personal details of your case.
We can be reached by phone at 800.931.8452 or through the brief contact form at the bottom of this page when you are ready to schedule a confidential consultation.