Broker negligence shouldn’t be taken lightly when an investor loses out. Work with a broker negligence attorney to hold your stockbroker accountable for their recklessness.
If investors can’t trust that their brokers and financial planning corporations are acting in their best interests, why should they continue to invest? Stockbroker fraud, misconduct, and negligence are more common than you might think, and negligent brokers should be brought to justice when their poor decisions result in massive stock losses for their investors.
This can be done when you get help from a broker negligence lawyer at Meissner Associates. Our firm will help you file a complaint with the Financial Industry Regulatory Authority (FINRA) so that you can work to recover the compensation you lost due to your stockbroker’s irresponsible investments or schemes. Continue reading to learn more about different types of broker negligence and how you can get the justice you deserve.
Types of Stockbroker Misconduct
There are several ways that stockbrokers and brokerage firms can commit fraud, engage in misconduct, or be otherwise negligent with their clients’ investments. However, some of these actions happen with alarming frequency and include the following types of misconduct:
- Failing to supervise
- Investment with a lack of diversification
- Excessive trading, also known as churning
- Recommending unsuitable investments
- Selling away
- Unauthorized trading
- Excessive use of margin
Even though any investment comes with the risk of losses, these losses should never be caused by irresponsible or reckless decisions on the part of your financial advisor. If you find that you’ve lost investments in excess of $100,000, get in touch with our firm today so we can begin helping you obtain maximum possible repayment of your stock losses.
What You Can Do to Hold Your Broker Accountable
The best way to secure the indemnity that is rightfully yours is by filing an arbitration claim through FINRA. After you’ve submitted your complaint, you will be given a hearing where a three-person panel of FINRA arbitrators will hear the circumstances of your case and your lawyer will present evidence that proves stockbroker negligence.
From there, the broker and their constituents will then have the opportunity to defend themselves. After the panel of arbitrators has heard both parties, they will further examine the evidence at hand prior to making a decision as to whether your stockbroker was negligent in some way. If they find that your broker was negligent, they will then determine how much you are entitled to recover.
You should be aware that it is not uncommon for the panel of arbitrators to thoroughly review the cases presented to them, which means they may be in deliberations for more than a year before they are able to come to a decision in your case.
Get in Touch with a Broker Negligence Attorney
You should never be forced to deal with a stock loss when it could have been prevented if it weren’t for your stockbroker’s negligence. When you are ready to pursue your FINRA complaint, reach out to an experienced broker negligence lawyer at Meissner Associates today.
You can schedule your complimentary case evaluation by giving our office a call at 212-764-3100 or by filling out the online contact form we have provided at the bottom of this page.