Elder Investment Loss Recovery
Have You or A Loved One Suffered Investment Losses Due to a Broker’s Negligent Advice or Misconduct?
Our experienced Elder Financial Loss Recovery lawyers help senior investors recover losses through FINRA arbitration.
Retiring baby boomers and other seniors know that investing funds can be a vital component of a strong and successful retirement plan. Unfortunately, negligent or even criminal financial advice continues to plague senior investors.
Even highly reputable brokerage firms and financial advisors may attempt to take advantage of elderly customers’ hard-earned dollars for their own financial gain.
Elder investors who have suffered financial losses due to broker misconduct or negligence may be eligible to recover their financial losses through the Financial Industry Regulatory Authority (FINRA) arbitration process.
FINRA views the protection of senior investors as a top priority, placing particular emphasis on the suitability of investment recommendations offered to senior investors, communications directed toward elderly investors and potentially abusive or dishonest sales practices or fraudulent conduct targeting senior investors.
Our experienced Elder Financial Loss Recovery lawyers have helped many elderly investors recover millions of dollars lost to investment fraud. We represent victims of bad investment advice in both FINRA arbitration and federal court.
If you suspect your investment losses are the result of stock broker, wealth advisor or investment advisor misconduct, you may have a claim to recover your losses. Contact an experienced lawyer today for a free, confidential consultation.
Senior Investors May Be Able to Recover Investment Losses
FINRA is a self-regulatory, non-profit agency designed to protect U.S. investors by enforcing fair and honest securities industry operations. When a brokerage firm or financial advisor violates FINRA rules and regulations, investors may have a claim to recover their losses through FINRA arbitration.
Common broker and financial advisor FINRA violations include:
- Breach of Fiduciary Duty: Investment advisor places their own financial interests over those of the investor.
- Failure to Diversify: Investment advice results in inadequately diversified portfolio, increasing risk.
- Failure to Supervise: Investment firm fails to adequately supervise the activities of its financial advisors, brokers or representatives.
- Misrepresentation: Broker or financial advisor fails to present all pertinent investment information and related costs and risks.
- Unsuitability: Investment firm fails to consider investor’s age, investment experience, financial status, risk tolerance or other relevant criteria when recommending investments.
- Unauthorized Trading: Investment firm trades on investor’s account without required consent.
- Account Churning: Generating excessive fees or commissions by recommending unnecessary or excessive trading.
If you have lost your retirement savings due to negligence or faulty advice from a broker or financial advisor, our Elder Financial Investment Loss Recovery lawyers can help you recover your losses through FINRA arbitration. The arbitration process is faster and simpler than court, often completed within 12 to 18 months. Contact us today to learn your rights and how we can help in a free, confidential consultation.
How We Recover Senior Investment Losses Through FINRA Arbitration
FINRA arbitration offers elderly investors a faster, less-formal means of recovering investment dollars than filing a claim through the court system. Arbitration decisions are final, with appeals allowed only under rare circumstances.
First, our Elder Financial Loss Recovery lawyers prepare a Statement of Claim describing the broker or financial advisor conduct that resulted in your investment loss.
Second, once the investment firm supplies their response to the Statement of Claim (within 45 days), both parties select a panel of FINRA arbitrators.
- Three arbitrators when losses are over $100,000
- One arbitrator when losses equal $50,000 to $100,000
Third, your Elder Investment Loss Recovery lawyer will then request that the investment firm produce receipts, account statements and other important documents related to your case. FINRA arbitration does not normally involve depositions or other types of discovery.
Fourth, when an elderly investor has lost more than $50,000, their lawyer will appear at a FINRA arbitration hearing before the panel of arbitrators. The final decision is issued within 30 days. The complete process from Statement of Claim to Decision is often accomplished within 12 to 18 months.
Take Action Promptly. Don’t Lose Your Right to Recover Losses
While FINRA Rules 12206 and 13206 allow an arbitration claim to be filed within 6 years of the event that led to the investment losses, other relevant statutes of limitations may apply to your case and can be significantly less than 6 years. We can help you determine which statutes of limitations apply to your particular case.
Our experienced investment loss recovery lawyers represent senior investors nationwide. We have extensive experience representing investors who have suffered large financial losses at the hands of the most reputable investment firms. We are happy to speak privately with you about your financial situation in a free consultation.