Need to know more about securities fraud attorneys?
If you are new to the world of investing and have found yourself in a bit of a bind due to the outbreak of COVID-19, you may feel very puzzled about what to do if you lost money in some of your investments.
However, your situation may seem worrisome if you or a member of your family have concerns surrounding the legitimacy of the advice and recommendations which were made to you by either your stockbroker or investment advisor to pay off your debts, or save up. At this stage, hiring a securities fraud attorney may make all the difference.
As you are undoubtedly aware, when you invested your assets, your stockbroker or investment advisor probably made suggestions to you on what investments to purchase. After all, that is part of their job! According to the Financial Industry Regulatory Authority, all registered stockbrokers are supposed, among others, to consider your personal background, investment history, and of course, the suitability of different investment types.
Unfortunately, many investment firms are being investigated at present due to alleged unsuitable investment recommendations; in essence, stockbrokers and investment advisers are being sometimes accused by former customers of recommending unsuitable investments and not warning investors about the risks of certain investment types, alongside allegedly not researching or failing to consider the investors’ financial history.
If you feel that you or a family member have been on the receiving end of an unsuitable recommendation and have concerns about your assets, contacting a securities fraud attorney may be able to help you with the legal process.
How? Read on to find out 7 facts about securities fraud attorneys
What Securities Fraud Attorneys Do
In simple terms, securities fraud attorneys are representing the interest of their clients in investment-related disputes.
If you have any concerns about your investments or assets being mismanaged or worried that you were not informed of the risks associated with the investment type you purchased, contacting a securities fraud attorney is the first step you may consider taking.
It’s a Separate Area of the Law!
An interesting fact about the area of securities fraud law is that it is a separate area of the law, subject to a very detailed and extensive body of rules and regulations.
Attorneys who practice in this area of law have to familiarize themselves with those rules enacted at state, federal, and industry levels.
Experience is key
If you fear you have lost money through a broker in Wall Street, you will want an attorney who has experience with similar disputes.
Many securities fraud attorneys have background experience in different areas; some may have been former financial industry attorneys and may be aware of all the tricks investment firms play with their investors. They may also have insight into how the attorneys representing your brokerage firm will see your case and can adapt their style accordingly.
Fees
Like many other attorneys, securities fraud attorneys oftentimes, and where the law allows, work on a contingency basis. This means that you do not have to pay them upfront when you hire them. However, before you hire your securities fraud attorney, always check this!
They May Be Able to Recover Your Losses
The odds of recovering your investment-related losses depend on many factors, which are best discussed with your lawyer before you hire him.
Generally speaking, among factors that influence the chances of investment loss recovery are the type of misconduct, collectability of responsible parties, and the existence of paper trails proving there was wrongdoing.
They Could Save You Money
An interesting fact about hiring a securities fraud attorney is that while many people worry that it will be costly, you could save.
Experienced securities attorneys may sometimes be able to settle arbitrations and other legal matters outside of court, saving various fees and avoiding the uncertainty of a trial.
They May Be Able to Spot Other Problematic Investments
An experienced securities fraud attorney is also always up to date with the latest regulatory actions taken against certain financial industry members and might be generally aware of known problematic investments. When you hire a securities fraud lawyer, among the first things you are required to provide are financial statements and other investment-related documents.
Your attorney will then review those documents and in many cases, with no additional charge to you, he may spot any other investments that may be included in your claim and thus increase the amount of potential recovery. Just like your favorite podcasts, they have great advice for your finances.
Securities Fraud Attorneys and Your Finances
If you suspect that you have been a victim of fraudulent behavior related to investments, contact a securities fraud attorney for advice. Remember, they may be able to recover your losses and could save you a great deal of time and stress. What more could you want?
