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 to regain some or all of your investments.
However, your situation may seem more 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. At this stage, the hiring of a securities fraud attorney can make all the difference.
As you are undoubtedly aware, when you invested your assets in a company, your stockbroker or investment advisor will have made suggestions to you on the most suitable investments for you to purchase. After all, that is part of their job! According to the Financial Industry Regulatory Authority, all registered stockbrokers are also supposed to research your personal background, investment history, and of course, your suitability for different investment types. Unfortunately, may investment firms are being investigated at present about unsuitable suggestions; in essence, stockbrokers and investment advisers are being sometimes accused by former customers of recommending unsuitable investments and not warning investors about the volatility of certain investment types, alongside allegedly not researching 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 can help you with the legal process.
How? Read on to find out 7 important facts about securities fraud attorneys.
Fact 1- What securities fraud attorneys do
In simple terms, securities fraud attorneys are involved in financially handling their clients’ financial assets, concerning investment-related disputes .
If you have any concerns about your investments or assets being mismanaged or if you are 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 need to take.
Fact 2-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 the law have to familiarize themselves with those rules, which are enacted at state, federal, and industry level.
Fact 3-Experience is key
If you fear you have lost money through a broker in Wall Street, then you will want an attorney who has experience with Wall Street.
Many securities fraud attorneys have background experience in different areas; some may have been former Wall Street attorney and will 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.
Like many other attorneys, securities fraud attorneys often times work on a contingency basis. This means that when you hire them, you may not have to pay them upfront. However, before you hire your securities fraud attorney, always check this!
Fact 5-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.
If you have had unsuitable investments recommended to you, or your advisor engaged in certain other types of misconduct, then your securities fraud attorney may have a chance of reclaiming your losses.
Fact 6- They could save you money
Experienced securities attorneys may sometimes be able to settle arbitrations and other legal matters outside of court, saving certain fees and avoiding the risk of a trial.
Fact 7-They can speed things up
Similar to the previous point, when you are attempting to take your brokerage firm to court for alleged fraudulent conduct, this process can take many months, or even years, and may end up costing you a fair bit of money.
However, when you hire a securities fraud lawyer, they may be able to speed up the arbitration process, which may save you a great deal of time and avoid or reduce stress on your finances.
If you suspect that you have been a victim of fraudulent behavior related to stocks, contact a securities fraud attorney for advice. Remember, they may be able to recover your losses without the hassle and could save you a great deal of time and stress. What more could you want?