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Investment FINRA Fraud

How a California Stockbroker Fraud Lawyer Can Help Recover Your Investment

Ethics and Investments

It is the ethical duty of a stockbroker to act within a client’s best interest when managing their investments. When a stockbroker puts their own interest before the client they may be engaging in stockbroker fraud. Financial advisors and stockbrokers who take advantage of their clients, manipulate money or convince their clients to make investments in funds that benefit themselves are committing fraud—a very serious crime in California and the United States.

Examples of stockbroker fraud include:

  • Misrepresentation or omission of information
  • Churning (excessive trading to earn commission)
  • Selling an unregistered security
  • Over concentration
  • Recommending unsuitable or unapproved investments to clients

A California stockbroker fraud lawyer at Evans Law Firm, Inc. can help you determine if you have been a victim of stockbroker fraud and advise about the next steps you can take to hold your financial advisor accountable for their misconduct.

Financial Industry Regulatory Authority

The Financial Industry Regulatory Authority (FINRA) is an independent securities regulator. The main priority of FINRA is to protect investors and their investments from the misconduct of stockbrokers or financial advisors.

FINRA helps victims of stockbroker fraud recover their investment by filing an individual arbitration claim. With the help of a California stockbroker fraud lawyer, you can open a case against the financial representative for their alleged fraudulent actions. It is also possible to open a case against the brokerage firm where the individual is employed.  The attorneys at Evans Law Firm, Inc. can develop your case and work toward recuperating the money you lost in your investment.

Avoiding Stockbroker Fraud

As an investor there are certain signs you can look for to help you identify a suspicious situation. Below is a list of some popular tell-tale signs that illegal practices may be occurring.

  • Receiving letters or emails with spelling errors and without official letterhead
  • A promise of an instant return on your investment
  • Sharing personal or insider information
  • Pressure to submit paperwork quickly
  • Encouragement to take money from other accounts in order to afford this investment.

It is also good practice to ask for written information, like an annual report. At Evans Law Firm, Inc. we have never heard of a successful get rich quick promise. In general, a good motto is “if it is too good to be true, it probably is.”

Yet, even the most aware investors fall prey to stockbroker fraud. If you believe your financial advisor is illegally handling your investment call Evans Law Firm, Inc. We offer a free, no obligation consultation. A California stockbroker fraud lawyer at our firm will listen to your situation and help you evaluate what to do next.

What to Do If You Are a Victim

Most of our clients are not expert investors. They don’t have a financial background. That is why they trusted their financial advisor to handle their money in a skilled and professional way.  If your stockbroker committed fraud by managing your money in an illegal way you must take action against the individual or the firm.

They are violating their fiduciary duty and need to be stopped so they cannot continue their illegal practices. Call a California stockbroker fraud lawyer at Evans Law Firm, Inc. Together we can determine if you need to file an individual arbitration claim with FINRA.

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