Selling away occurs when a financial broker attempts to get a client to invest their money in securities that their brokerage firm has not approved. These investments can be risky and violate Securities and Exchange Commission (SEC) regulations. If you lost money in this manner, an experienced selling away attorney can help.
At Meyer Wilson, we have helped countless people who lost money due to selling away or other forms of investment fraud recover the compensation they need and deserve from those responsible. Contact us today by phone or through our website to learn how one of our experienced investment fraud lawyers can help with a free case review.
How Selling Away Works
SEC regulations require brokerage firms to perform due diligence on any investment opportunity they suggest to a client. A brokerage firm will have a long list of investments they have thoroughly vetted to ensure their clients’ money is invested properly. This list is constantly being updated to reflect new investments for which the firm has performed due diligence.
Brokers can suggest any of these investment options for their clients. However, they are prohibited from pushing their clients to move their money into assets that the brokerage firm has not evaluated.
A broker who sells securities that their brokerage firm has not approved puts their clients’ money at risk while opening themselves up to legal action. If you think you have lost money due to selling away or another form of investment fraud, you can review this checklist of investment fraud red flags provided by the SEC.
How Common Is Selling Away?
Selling away is a common form of investment fraud. Even though brokerage firms have a large range of investment options that have received due diligence, some brokers decide to promote and sell unapproved investments that the firm missed in its supervisory responsibilities.
The commissions available for outside investments can be higher than those the broker would receive by selling an investment opportunity approved by their firm. This increased commission can sometimes entice brokers to color outside the lines.
How a Selling Away Lawyer Can Help You Recover Compensation
If you lost money after investing with a financial advisor who sold away your assets, an experienced selling away lawyer can help you recover the compensation you need and deserve. Your attorney will take over every aspect of your case and will likely begin by conducting their own investigation into the circumstances surrounding your loss.
Your lawyer can help identify if your losses were, in fact, the result of selling away or another form of investment fraud or if your broker invested your money appropriately while natural fluctuations in the market or unforeseeable events caused the loss. If your broker did sell away or commit another form of securities fraud, your attorney will file the paperwork for an arbitration case or a lawsuit if the facts support such an action.
Your lawyer will then prepare your case for court or arbitration while also engaging in settlement negotiations with opposing counsel if appropriate, attempting to come to terms on a settlement deal. If a settlement is not reached by the end of the pre-trial process, your lawyer will argue your case in court or in arbitration
Why Our Investment Fraud Legal Firm Stands Apart
Meyer Wilson is among the top investment fraud law firms in the nation. Our award-winning team of investment fraud lawyers has over 75 years of combined experience representing those who have been victimized by selling away and other forms of investment fraud.
Over the years, we have managed to secure more than $350 million for our clients. Some of the things that give us an edge over other firms include that we:
- Charge our clients on a contingency fee basis, meaning that you won’t pay us for our services unless we are able to secure compensation on your behalf
- Begin preparing each case for court from the start to ensure we are ready if a trial proves necessary while also improving our leverage in settlement negotiations
- Employ state-of-the-art technology to ensure a high-level experience for our clients
- Are selective when taking on cases to ensure we maintain a manageable caseload that enables us to provide each client with the personalized attention they deserve
Reach Out to an Experienced Selling Away Lawyer for Help Today
If you think that your investment losses were the result of selling away, it is critical that you secure the services of an experienced investment fraud lawyer who can help ensure you recover the compensation you need and deserve. At Meyer Wilson, our team is ready and waiting to work on your behalf.
Contact us today by filling out our online contact form or giving us a call and schedule your free, no-obligation consultation with a member of our team.