How Do I Know if My Stockbroker Is Engaging in Misconduct?
As an investor, you are likely keeping a close eye on your investment portfolio to ensure that your objectives are being met. But if you are noticing that you aren’t seeing the returns you were promised, or if you have noticed significant stock losses, you may be wondering whether your stockbroker has been prioritizing their needs above yours.
When brokers engage in such misconduct and their investors lose a significant amount of money in the process, investors like you have the opportunity to hold them accountable for their negligence. Below, we discuss some of the most common signs of stockbroker misconduct and describe the steps you can take to get your money back.
Signs of Stockbroker Malpractice
Despite the fact that brokers can commit fraud that goes unnoticed for months or even years, there are certain warning signs that you can look out for when you want to know if your stockbroker has wronged you. Some of these red flags include:
- Your broker making trades that don’t align with your goals
- Substantial gains followed by similar losses
- Low returns where other investors have seen high returns
- An excessive number of transactions in your accounts
- Unauthorized trades
If you believe your broker has been committing fraud in order to further their own financial goals, you don’t have to just take the loss. You can do something about it by reaching out to a seasoned stockbroker malpractice attorney.
What You Can Do to Recover Your Stock Losses
You can take action against your irresponsible stockbroker by filing an arbitration request with the Financial Industry Regulatory Authority (FINRA). If you are granted a hearing, with the assistance of your attorney, you’ll describe to a panel of arbitrators the depth of your stock market losses and why you believe your broker engaged in misconduct.
If the arbitrators find the evidence presented to be true, then they may order the stockbroker to repay you for the losses you endured due to their actions.
Consult with an Experienced Stockbroker Misconduct Lawyer
Having to go up against your broker, who is likely going to be backed by their brokerage firm, can be intimidating. But when you have an aggressive stockbroker misconduct lawyer at Meissner Associates in your corner, you can rest a little easier knowing we’ll fight for the money you’re owed.
We can begin working on your case as soon as you come in for your free consultation. Schedule today via the contact form we’ve provided at the bottom of this page or by giving our firm a call at 212-764-3100.