When you first hire a stockbroker, you are trusting that person to make sound investments on your behalf. Your broker is a trained finance professional and is expected to have detailed knowledge of stock market workings.
Unfortunately, even the most experienced and qualified brokers can make mistakes and stock market losses happen, even to the most experienced investors.
Large losses in the stock market can be devasting, not just to your financial health, but also to your emotional well-being.
If you have recently suffered stock market losses, you may be wondering if you have any legal recourse.
- If you have lost money in the stock market, you may be able to take legal action and recover your losses.
- Most investment loss cases are handled through a process called FINRA arbitration.
- To file a FINRA arbitration claim, you must have an investment account with a broker-dealer that is a member of FINRA.
- The securities attorneys at the Law Offices of Robert Wayne Pearce, P.A., have been helping investors recover stock market losses for over 40 years and recovered more than $170 million on behalf of their clients.
- Customer complaints are public records and can be found on FINRA’s BrokerCheck website which allows investors to research the professional background of current and former FINRA-registered brokers.
Note: To file a FINRA arbitration claim, you must have an investment account with a broker-dealer that is a member of FINRA. To learn more about whether you have a case and what your next steps should be, contact an experienced stock market losses lawyer today.
We Help Investors Recover Stock Market Losses
The securities attorneys at the Law Offices of Robert Wayne Pearce, P.A. have been helping investors recover stock market losses for over 40 years.
We are one of the most experienced FINRA arbitration law firms in the country and have recovered more than $170 million on behalf of our clients.
We understand the complex legal and financial issues involved in stock market loss cases and will tenaciously fight for your rights.
We represent clients on a contingency fee basis, which means you won’t owe us anything unless we are successful in recovering your losses.
If you have suffered stock market losses, we can help. To learn more about how we can help you recover your losses, contact us today at (800) 732-2889 or fill out one of our short contact forms.
Common Tactics Stockbrokers Use to Deflect Blame for Losses
Losses in the stock market are usually not discovered by the investor until there are already substantial losses. By the time the investor realizes there are losses, the damage has already been done.
However, brokers are quick to deflect blame and will often try to convince investors that the losses were due to factors outside of their control, such as the overall market conditions.
The chances are that if you’ve lost thousands, tens of thousands, or even hundreds of thousands of dollars in the stock market, your stockbroker has been putting your investments at risk for a while.
Many times, investors don’t realize the risk their broker has been taking until it’s too late and they’ve suffered significant losses.
Don’t be fooled – in many cases, stockbrokers are to blame for losses due to:
- Unauthorized trading on a non-discretionary account
- Unsuitable recommendations
- Breach of Fiduciary Duties
- Forced liquidation (forced selling)
- Churning or excessive trading
- Failure to supervise
- Lack of diversification
- Misappropriation of client funds
There are a wide variety of claims that investors can bring against their brokers when they have suffered losses.
The type of claim will depend on the facts and circumstances of each individual case.
Not every scenario is the same, therefore it’s critical to consult with an experienced securities lawyer about the specifics of your case to determine if you have a claim and what your next steps should be.
Does Your Stockbroker Have a Previous History of Misconduct?
Customer complaints are public records and can be found on FINRA’s BrokerCheck website.
BrokerCheck is a free tool that allows investors to research the professional background of current and former FINRA-registered brokers.
To use this tool you will need:
- The name of your broker or their CRD number
- The name of the brokerage firm or financial institute (optional)
- The city, state, or zip code that the broker resides or worked in (optional)
By searching BrokerCheck, you can find out if your broker has a history of misconduct.
Some types of misconduct that may be revealed include:
- Customer complaints
- Disclosure events
- Employment Termination
- Arbitration awards
- Bankruptcy filings
- Criminal charges or convictions
If you discover that your broker has a history of misconduct, this may be evidence of a pattern of behavior that led to your losses. This information will be found in the section labeled “Disclosure(s)”.
You may be able to use this information as part of your claim against the broker or their firm.
IMPORTANT: If you DO NOT find any Disclosures on BrokerCheck, this does NOT mean that you do not have a valid legal claim against your broker. The best way to find out if you may have a claim is to speak with an experienced securities lawyer.
Has Your Stockbroker Engaged in Misconduct Resulting in Investment Losses?
Nearly all investment account agreements used by brokerage firms and other financial institutions contain a clause requiring customers to arbitrate any disputes through FINRA.
FINRA is the Financial Industry Regulatory Authority, which is the self-regulatory organization that oversees broker-dealers and the securities industry.
FINRA recommends that investors attempt to informally resolve their disputes with a broker or brokerage firm before filing a formal complaint, but if an informal resolution is not possible or is not successful, the investor’s only recourse may be to file a FINRA arbitration claim.
The arbitration clause in your account agreement means that if you have suffered investment losses and want to take legal action against your broker, you will be required to do so through FINRA’s arbitration process.
While the arbitration process can be complex and time-consuming, it is often the only avenue available to investors who have lost money due to their broker’s misconduct.
The securities attorneys at the Law Offices of Robert Wayne Pearce, P.A. have decades of experience representing investors in FINRA arbitration claims.
We understand the process and will tenaciously fight for your rights.
If you have suffered investment losses, we can help. To learn more about how we can help you recover your losses, contact us today at (800) 732-2889 or fill out one of our short contact forms.
What Is FINRA Arbitration?
FINRA arbitration is a process through which investors can resolve disputes with their brokers without going to court.
FINRA is the Financial Industry Regulatory Authority, which is the organization that oversees and regulates the securities industry.
All broker-dealers that are members of FINRA must agree to arbitrate disputes with their clients through the FINRA arbitration process.
If you have an investment account with a broker-dealer that is a member of FINRA, you likely signed an agreement when you opened your account stating that you would arbitrate any future disputes through FINRA.
The arbitration process is similar to going to court, but there are some important differences.
For example, in arbitration, there is no jury and the arbitrators (the people who hear the case) are usually experts in the securities industry.
The arbitration process is also generally faster and less expensive than going to court.
Hear From Our Clients
At The Law Offices of Robert Wayne Pearce, P.A., we believe the ultimate barometer of our success is surpassing the expectation of our clients.
The following clients have direct knowledge of our firm's processes from the inside and experienced our fierce advocacy.
Hear From Our Clients
"Bob Pearce is the real-life Marvel Hero who fights for small investors against brokerage institutions who manage investors’ hard-earned money carelessly, and even worse, conduct fraud outright."
Bob Pearce is the real-life Marvel Hero who fights for small investors against brokerage institutions who manage investors’ hard-earned money carelessly, and even worse, conduct fraud outright. For years, we were misled by a brokerage firm who told us they would correct the wrong or compensate us for their mistakes. Only after we started working with Bob, we realized how powerful and wonderful it is to have a top legal expert by your side. Bob is immensely detail oriented, knowledgeable, professional, and confident. We are more than happy with the outcome Bob achieved for us within just a few months. Thank you, Bob!- Q Wang -
“Robert Pearce is part of that unusual breed of lawyers that are able to create empathy with clients and thoroughly adopt their cause”
No half efforts here. He and his group of professionals are outstanding strategists that can execute with precise fervor and unyielding determination. Theirs is a huge wave of facts, research, precedents and preparation, that has impressed me in its thoroughness and creativity, and most importantly with the results. No stone goes unturned and no effort is ever spared. In my book, he and they are those of a very rare kind that one wants to keep for a very long time.- Ramon Flores-Esteves -
“Just like the song from HAMILTON, it's so nice to have Bob Pearce on your side.”
Just like the song from HAMILTON, it's so nice to have Bob Pearce on your side. He is the consumate plaintiff's lawyer: smart. dedicated, fully able to try a case but a great negotiator in a mediation. He did a wonderful job for us, fully supporting us through the process and more than holding his own against a large national law firm.- Maurice Z. -
"Mr. Pearce and his staff exceeded all of our expectations."
Mr. Pearce and his staff exceeded all of our expectations. We were able to reach a settlement that was of our complete satisfaction, all within a very smooth, professional and efficient process. Mr. Pearce is now not only our lawyer but our family friend. We highly recommend him and his team!- Severiano L. -
"For the best fighting chance, Robert Pearce is the lawyer you want in your corner."
This law firm is the real deal. We were so lucky that they took our case as they have so much experience in securities and all the wrongdoing that happens in these investment companies where they mislead you and your money (as in our case) into schemes that are not what you think they are. Mr. Robert Pearce is one of the best lawyers around, a truly professional who will fight for you and will tell you as it is all the time. We could not have gone thru this experience if it was not for all the advice, guidance and support he and all of his staff and associates brought to the game. For the best fighting chance, Robert Pearce is the lawyer you want in your corner.- Astrid M. -
"He never felt intimidated and his study of the case and perseverance prevailed at all times."
Attorney Robert Pearce was our lawyer in a case against a Brokerage Firm and I'm witness to his ability and intelligence to deal with lawyers from the most prominent law firm in New York which was the key to recovering much of our losses cheered by their negligence. He never felt intimidated and his study of the case and perseverance prevailed at all times.- Jose A. C. -
"In the end, Bob and I had the last laugh when the arbitrators awarded me almost 6 million dollars."
No lawyer except Bob said I had a chance of winning. When UBS Lawyers laughingly offered me zero to settle the dispute, Bob became even more determined to prove everybody wrong. Bob was extremely prepared, and always a step ahead of the opposing attorneys throughout the arbitration. In the end, Bob and I had the last laugh when the arbitrators awarded me almost 6 million dollars.- J. Blanco -
"Every meeting and phone call was made with dedication and desire to help our family every step of the way."
Robert's team is excellent. They are very competitive in what they do and they are very responsible. Every meeting and phone call was made with dedication and desire to help our family every step of the way. Their professionalism, responsibility and empathy assured us that we were in good hands. Recommend to everyone.- Mayra A. -