If you lost your life savings while investing, and if you believe the losses were caused by the misconduct of your financial advisor, you need to speak to a dedicated investment fraud lawyer. If you suffered investment losses of more than $100,000 due to the misconduct of a stockbroker, investment advisor, or financial firm, an investment fraud lawyer can take legal action and pursue fair compensation for you.Â
An attorney will investigate your loss, build a strong claim on your behalf, and work hard to hold the at-fault advisor or brokerage firm responsible for the losses you’ve suffered. Let’s take a closer look at what to do if you’ve lost your life savings while investing and how an attorney can help you get justice.
Identify the Source of the Loss
The first thing you must do if you’ve lost your life savings while investing is to determine how and why your savings disappeared. This step is essential not only for your own knowledge but also for establishing whether you’re entitled to take legal action.
Ask yourself the following questions to identify the source of your investment loss:
- Did you work with a registered stockbroker or investment advisor?
- Were you pitched a complex or risky investment that was inconsistent with your investment objectives?
- Were trades made without your permission?
- Was your portfolio overly concentrated in one investment or one sector of the market?
If your advisor guided you into an unsuitable investment that did not align with your risk tolerance or objectives, or if you were misled about the nature of the investment, you may have a valid legal claim. That said, there are many other situations that warrant legal action.
You’ll want to consult with a skilled lawyer to determine if you should move forward with a claim.
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Gather and Secure Your Investment Records
To get justice and compensation after losing your life savings from investing, you must also collect important documents and records. Make sure to gather the following pieces of evidence to strengthen your claim for compensation:
- Account statements
- Emails or messages from the offending financial adviser
- Trade confirmation documents
- Investment brochuresÂ
- Notes from your meetings or calls with your brokerage firm
Once you’ve gathered these important materials, you’ll want to hand them over to your investment fraud attorney. Your lawyer can gather other forms of evidence and use the records you provide to build a winning claim. Reach out to an attorney today to learn more about the evidence you need to take legal action after investment fraud.
Don’t Confront Your Advisor or Brokerage Firm Until You Have a Lawyer
It’s important that you do not confront your advisor or brokerage firm about losing your life savings before you consult with an investment fraud lawyer. In many cases, firms will attempt to protect themselves and even destroy evidence that could be used against them.Â
Instead of jeopardizing your financial recovery, let a securities fraud lawyer take the lead in managing communication with involved parties. An attorney can gather evidence and information, ensuring all important records are preserved and used to make your case as strong as possible.
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Talk to an Investment Fraud Lawyer
It’s easy to feel hopeless after losing your life savings while investing. That said, it’s critical to remember that you’re not powerless in this situation. You have the right to hire an attorney who has the technology, legal resources, and experience to hold your advisor or brokerage firm accountable for the great financial losses you’ve suffered.
A lawyer can take many steps to win your case and get the recovery you deserve. Here’s what a committed investment fraud attorney will do to help you recover your life savings:
- Review your investment history and identify misconduct or fraud
- Gather evidence to build a compelling case
- Calculate the full value of your claim
- Represent you during FINRA arbitration
- Fight for the remedies you need to put this unfortunate situation behind you
- Provide compassionate and effective legal counsel throughout the legal process
As you can see, there’s a lot that an attorney can do to help you recover compensation after an investment fraud loss. No matter how serious your losses are, you can count on a dedicated attorney to pursue full compensation for you.
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Learn More About What To Do if You Lost Your Life Savings While Investing
If you’re wondering what to do when you lose your life savings after investing, Meyer Wilson is here to help. Contact our team today for a free case evaluation. We’ll review your situation and guide you through your options to pursue justice and fair compensation.
We’ve recovered over $350 million for clients across the country. Led by nationally recognized trial attorneys, Meyer Wilson was named to The Best Lawyers in America®. Reach out to our knowledgeable team today to learn more about the steps we’ll take to recover your losses and give you the confidence you need to move forward with your investment portfolio.
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