When you make the decision to work with a financial advisor, such as a stockbroker or brokerage firm, you expect to be given honest recommendations that match up with the objectives you’ve set for your investments.
When these advisors abuse their position by engaging in misconduct to further their own personal gains without regard for the losses you’ll endure, you can bring a claim against them through the Financial Industry Regulatory Authority (FINRA).
Here, you’ll have the opportunity to attend an arbitration hearing where you can present your case to secure maximum remuneration of your losses. Below, we discuss what your stockbroker’s obligations to you consist of, signs that your broker may be mistreating you, and what you can do to recover your financial losses.
Your Broker’s Obligations to You
To put it simply, stockbrokers are responsible for providing what’s known as a duty of fair dealing. This means that your broker promises to be transparent in the facts as they relate to investment opportunities, ensure that the investments presented to you are suitable, and adhere to your objectives in all transactions.
This would include disclosing any conflicts of interest, monitoring your investments closely, and reporting relevant information, among other professional responsibilities.
Signs of Stockbroker Misconduct
Due to the fact that you probably have little to no experience in the securities and financial industries, your stockbroker can easily get away with fraudulent activities without you having any idea that your investment is in jeopardy.
If you notice a sudden significant loss, an investment that doesn’t align with your goals, or an excessive amount of trades on your account, your broker may be engaging in misconduct that has resulted in substantial investment losses.
We Can Help You Sue for Broker Wrongdoing
There are many different reasons why you might need to bring a claim against your broker. Some of the most common types of misconduct our clients have been victims of include:
- Selling away
- Unsuitable investments
- Excessive use of margin
- Unauthorized trading
Although becoming an investor is not without risks, your trusted stockbroker should not be responsible for causing your financial losses. You can work with a respected stock loss attorney to obtain the justice that is rightfully yours.
Reach Out to a Stockbroker Misconduct Lawyer
When you believe that your broker’s misconduct is responsible for your significant financial losses in excess of $100,000, the regarded team of attorneys at Meissner Associates is ready to help you recover the funds you deserve. You can schedule your free consultation by calling our office at 212-764-3100 or by filling out the secure contact form below.