Making investments is a risk that could pay off or end poorly depending on the advice you received prior to the investment. Should you find yourself facing a significant loss of funds, you might wonder what you can do to rectify the situation. If you believe that your broker gave you bad advice or is at fault pursuing arbitration is one recovery option. If this is the route you choose to follow, make sure that you are represented by an experienced securities lawyer.
Why a securities lawyer?
Opting for a securities lawyer is the smart option for a variety of reasons. Let’s assume, for example, that you decide to pursue recovery via arbitration. How do you think the brokerage company and broker in question will be defending themselves from your claims? It is almost a guarantee that they will have hired an experienced attorney to help them. They will have experienced and knowledgeable individuals on their side, in other words, and you should, too, if you want to recover your losses.
Should I opt for a non-attorney representative?
As you move down the road towards recovery and representation, you might encounter non-attorney representatives. These representatives often give themselves impressive titles such as “arbitration specialists” or “recovery consultants”, but make no mistake: these individuals are not qualified to handle your legal claim. Attorneys undergo rigorous training and specialized education to ensure their clients have the best chance possible at recovery. Non-attorney representatives are not required to undergo that kind of education. They also are no subject to a governing body like a state bar association, which means that there is little in the way of consequences should they fail to put their clients’ interests first.
Attorneys adhere to a strict ethics code. Should they fail to uphold that code, they are subject to intervention and discipline from the aforementioned bar association. Unlike non-attorney representatives, in other words, attorneys are not able to misbehave without impunity. Additionally, it is sometimes possible to determine whether an attorney has ever been disciplined by their bar association via the association’s disciplinary records. This is not the case with non-attorney representatives, who can easily hide past transgressions.
Communications between a non-attorney representative and their clients does not carry the same security that attorney-client privileges hold. This means that you might be less inclined to be completely honest with a representative who is not an attorney. Additionally, many states only allow lawyers to represent investors. That means that your case could be dismissed entirely if you choose a representative who not an attorney to plead your case.
When it comes to securities law, it is vital that you invest in an experienced securities attorney. The professionals at Gordon, Dana & Gilmore, LLC., work tirelessly to represent our clients and give them the best chance at recovery possible. Reach out to us today for a consultation!