If you have lost more than $100,000 due to a financial advisor’s negligence, now is the time to seek legal guidance and support. A Los Angeles financial advisor negligence lawyer can investigate your case and pursue financial recovery for your monetary losses.
Meyer Wilson Werning has over 75 years of combined experience. Our Los Angeles investment fraud lawyers offer legal guidance and support to those dealing with the ramifications of financial advisor negligence.
Give us the opportunity to help you with your financial advisor negligence case. We strive to be nationwide leaders in investment fraud cases. As part of our efforts to help our clients, we are committed to managing our resources well, and we don’t take on a large caseload. To find out more, schedule a free consultation.
What Is Financial Advisor Negligence?
Financial advisor negligence occurs when a financial professional doesn’t exercise reasonable care, leading to harmful financial advice and monetary losses for their client. Meet with a California investment fraud lawyer if you may be the victim of a financial advisor’s negligence. Your attorney may advise you to file a claim for various reasons, such as:
- Unsuitable investments: Your financial advisor recommended high-risk products that don’t match your age, goals, or risk tolerance.
- Failure to diversify: All of your money was put into a single stock or asset class, raising your exposure to risk.
- Hidden fees: You weren’t informed about commissions, charges, or conflicts of interest.
- Neglecting accounts: Your advisor didn’t monitor or rebalance your portfolio as market conditions shifted.
Discuss your situation with a Los Angeles financial advisor negligence attorney from Meyer Wilson Werning. Our team can provide FAQs and other resources relating to financial advisor negligence. If you have grounds for a claim, we can guide you through the process of pursuing compensation from your financial advisor. Contact us today for more information.
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What a Los Angeles Financial Advisor Negligence Claim Entails
Depending on the situation, you can resolve your financial advisor negligence claim through arbitration with the Financial Industry Regulatory Authority (FINRA). Your financial advisor negligence lawyer in Los Angeles remains at your disposal as you go through FINRA’s arbitration process, which consists of these steps:
- File a Statement of Claim. Your Statement of Claim can detail your dispute, requested relief, and the facts of your case.
- Await a response. Your financial advisor has 45 days to file an answer in which they respond to your claim.
- Select an arbitrator. The parties involved in your case can choose one or more neutral FINRA arbitrators.
- Proceed with a pre-hearing conference and discovery. The parties can attend a pre-hearing conference to establish the dates and deadlines for discovery. Next, discovery takes place in which the parties exchange relevant documents, communications, and account records.
- Attend your hearing. Each party can present their respective argument.
Following a hearing, the arbitrators involved will review the information provided by each side and issue a decision that is typically final and binding. This decision can come within 30 days of the hearing date.
How to Prove Financial Advisor Negligence
Your financial advisor negligence attorney in Los Angeles can gather advisory agreements, monthly account statements, and other evidence to use in their argument. If your lawyer has pertinent evidence, they can show that your financial advisor breached their duty of care by failing to act reasonably or violating a fiduciary duty or suitability standard.
Expect your attorney to argue that your financial advisor’s actions correlate directly to your monetary losses. Your lawyer can also calculate your financial losses and detail why your advisor should pay damages.
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Challenges That You Can Face in a Financial Advisor Negligence Case
Unfortunately, even if you feel you have a strong case against a financial advisor, FINRA arbitrators can rule against you. Los Angeles financial advisor negligence lawyers want you to establish realistic expectations for your case. As such, they can share information about various challenges that can come up as your case progresses, including:
- Disputing a financial advisor’s argument that your financial losses are related to market conditions rather than negligence
- Connecting the financial advice you received to your monetary losses
- Proving that your advisor didn’t properly explain the true dangers of a product before you gave approval
Your attorney understands what is considered financial advisor negligence and how to prove that your advisor acted negligently. They can take appropriate measures to prepare an argument that highlights why your compensation request is valid.
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Partner with Our Los Angeles Financial Advisor Negligence Attorneys
Suffering monetary losses due to a financial advisor’s negligence can have far-flung effects on you and your family. As you cope with these losses, remember, you have access to legal help from financial advisor negligence lawyers in Los Angeles.
Meyer Wilson Werning has served thousands of clients nationwide. Our team is big enough to fight for your financial losses against powerful adversaries, and we are here to help you with your financial advisor negligence case.
If you want additional information about what to do to ask for compensation from a financial advisor who acted negligently or are ready to file a FINRA claim, our attorneys are available to assist. To get started, request a free consultation.
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