Get legal help if you have lost more than $100,000 due to a financial advisor’s misconduct. Discuss the situation with a Los Angeles financial advisor misconduct lawyer, and you can take the first step toward recovering compensation for your monetary losses.
Meyer Wilson Werning has served thousands of clients nationwide. Our Los Angeles investment fraud lawyers can investigate your case and look for ways to hold a financial advisor accountable for their misconduct.
Let our attorneys evaluate your financial advisor misconduct case and explain your legal options. We are committed to helping you protect and restore your financial security. To get started, request a free consultation.
What Is Financial Advisor Misconduct?
Financial advisor misconduct happens when an investment professional violates legal, ethical, or fiduciary standards to the detriment of their client. Some of the reasons people file financial advisor misconduct claims include:
- Unsuitable investments: Your financial advisor recommends products that don’t align with your risk tolerance, financial goals, or investment timeline.
- Unauthorized trading: Your broker buys or sells securities in your account without your permission.
- Churning (excessive trading): Your broker overtrades on your account in the hopes of generating high commissions.
- Misrepresentation and omissions: Your advisor falsifies account details, exaggerates returns, or hides significant risks tied to your investments.
- Breach of fiduciary duty: Your advisor puts their personal financial gain above your best interests.
As you search for a California investment fraud lawyer with financial advisor misconduct case experience, consider Meyer Wilson Werning. Our team is ready to help you pursue monetary losses caused by investment misconduct. Contact us today for more information.
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How to File a Los Angeles Financial Advisor Misconduct Claim
Your Los Angeles financial advisor misconduct attorney can help you file an arbitration claim with the Financial Industry Regulatory Authority (FINRA). Below are the steps of FINRA’s arbitration process:
- Submit a Statement of Claim. This is a detailed filing of your complaint and why you are requesting compensation for your financial losses.
- Wait for a response. The respondent (typically the financial advisor and/or their firm) has 45 days to file a formal answer, which may include a defense or counterclaim.
- Choose arbitrators. Both parties can profile and rank arbitrators from a roster provided by FINRA. Generally, one to three arbitrators will hear a financial advisor misconduct case.
- Engage in a pre-hearing conference and discovery. During a pre-hearing conference, the parties set dates and deadlines for the discovery process. In discovery, the parties exchange financial records and other relevant evidence.
- Go to your hearing. The parties can present witness testimony, evidence, and their arguments.
After a hearing, the arbitrators involved can evaluate your case and the information provided by both sides. You may then receive a decision within 30 days of your hearing’s conclusion. This decision is typically final and legally binding.
How to Prove Financial Advisor Misconduct
To prove misconduct, you must show that your financial advisor owed you a duty (such as a duty of care or, if applicable, a fiduciary duty), they violated this responsibility through misconduct or negligence, and this violation contributed to your monetary losses.
Your financial advisor misconduct attorney in Los Angeles can develop an argument specific to the facts of your case. In this argument, they can highlight how your financial advisor engaged in behaviors that would be considered misconduct. They may also use trade confirmations, written communications between you and your advisor, and other proof to support your case.
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Legal Challenges in Los Angeles Financial Advisor Misconduct Cases
You are aware of the signs of financial advisor misconduct and believe you have a strong case against the party who caused you to incur monetary losses. Regardless, you may encounter legal challenges in your financial advisor misconduct case. Your financial advisor misconduct lawyer in Los Angeles can help you overcome such challenges, which can include:
- Blaming market conditions. Your advisor can argue that your financial losses occurred due to market drops rather than poor choices.
- Showing causation. It can be difficult to show that your losses wouldn’t have happened without your advisor’s bad advice.
- Comprehensive evidence. Trade records, account statements, risk disclosures, and other evidence are often needed to prove misconduct.
Your attorney is familiar with common investment misconduct as it applies to your case. They can prepare an argument designed to illustrate that your financial advisor committed acts representing misconduct, which contributed to your monetary losses.
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Work With Our Los Angeles Financial Advisor Misconduct Lawyers
If you are worried about what to do after you have lost more than $100,000 as a result of a financial advisor’s misconduct, now is the time to pursue legal guidance and support. Talk with our Los Angeles financial advisor misconduct attorneys and find out what options are available for you to recover your monetary losses.
Meyer Wilson Werning has over 75 years of combined experience. Our investment fraud attorneys are prepared to stand up for our clients, including those who have incurred significant monetary losses due to financial advisor misconduct.
Our team can assess your misconduct case and the legal measures you can take if you want to secure compensation from the financial advisor liable for your financial losses. Schedule a free consultation.
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