When brokerage firms are developing the portfolio of products they sell to their customers, they go through a painstaking process of researching each one to ensure that they are good investment options for their clients. Under FINRA rules, when stockbrokers and financial advisors employed by the firm are recommending investment options, they are only allowed to sell from the pool of products the firm has approved.
Despite the law and the internal policies of the brokerage firm, some brokers and advisors will attempt to sell an investment product that has not been approved by the firm. These investments are typically less traditional in nature such as a startup company or real estate venture.
In many cases, the broker will present the investment opportunity as a company-endorsed product without the firm's knowledge. This practice is referred to as selling away investments and the brokerage can be held liable for your losses for its failure to supervise its brokers. Attorney Pearce has assisted many Fort Lauderdale investors and others nationwide to recover their losses due to this type of misconduct.
Representing clients throughout Florida and nationwide. Please contact our South Florida law office online, or call 561-338-0037 to schedule your free consultation.
If you have lost money on an investment, it is important that you seek the advice of a qualified Boca Raton selling away attorney to explore your options for recovery. You may have grounds for a complaint on a number of different grounds, including unsuitability and misrepresentation. In cases where the product was not approved by the brokerage firm, it only reinforces the strength of your claim.
In addition to the broker's misconduct, it is also possible to seek recovery from the brokerage firm. It is the firm's responsibility to oversee the actions of brokers and advisors to ensure that they are acting in the investors' best interests. When the firm fails to adequately supervise its employees, it can share in the liability to investor for unauthorized product losses.
The Law Offices of Robert Wayne Pearce, P.A., in Boca Raton, represents clients throughout Florida in all types of investment schemes and matters involving broker misconduct. Mr. Pearce has more than 40 years of experience in the practice of securities law and has a strong track record of success.Free Initial Consultation With Attorneys Who Can Handle Your Selling Away Problems
The Law Offices of Robert Wayne Pearce, P.A., understands what is at stake in matters involving a broker's selling away due to a brokerage firm's failure to supervise and constantly strives to secure the most favorable possible result for all of its clients. Mr. Pearce provides a complete review of your case and fully explains your legal options. The firm works to ensure that you have all of the information necessary to make a sound decision before any action is taken in your case.
For dedicated representation by a law firm with substantial experience in all kinds of securities, and commodities and investment disputes, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail. We can also arrange a meeting with you at offices located in Boca Raton, Fort Lauderdale, Miami and West Palm Beach, Florida and elsewhere if we believe you have a viable case.