At Shepherd, Smith, Edwards, and Kantas, our savvy New York securities attorneys represent investors throughout New York who have suffered financial losses due to the broker misconduct, mismanagement, or negligence of their broker-dealers or investment advisors.
We have been fighting for retail investors, institutional investors, retirees, sophisticated investors, and high net worth individual investors for 30 years. Call (716) 261-3529 and ask for your free initial case consultation.What to Do if You Suspect That You Were the Victim of Brokerage Firm Misconduct or Negligence
Your financial advisor should be someone you can trust with always having your best interests in mind. When making any product recommendations or implementing a particular investing strategy for your portfolio, a financial advisor must do so knowing that your investment portfolio is not at risk.
Unfortunately, stockbroker and investment advisor fraud happen, costing investors billions of dollars each year. If you think that your financial losses could have been avoided were it not for the actions of your registered representative, you should speak with one of our experienced Buffalo securities lawyers right away.Types of Securities Fraud & Brokerage Firm Misconduct
Some ways in which brokers and investment advisors can cause their customers to lose money include:
- Making unsuitable investment recommendations that do not align with your financial goals, investing experience, or risk tolerance level.
- Churning which involves making too many trades in an account so that the broker can keep earning commissions.
- Engaging in trades or buying investments without the customer’s knowledge or approval. This is a practice known as unauthorized trading.
- Overconcentrating, rather than diversifying, a brokerage account in too much of one type of investment. This may increase the risk of losses should the product fail.
- Not placing trades or other orders that the customer requested. This is called failure to execute.
- Misrepresenting or omitting material facts about an investment or trading strategy.
- Violating the terms of your agreement leading to a breach of contract.
- Negligence can occur due to inadequate training, inexperience, or carelessness.
Brokerage firms have a duty to oversee not just their registered representatives but also supervise what these employees are doing in their customers' accounts.
If your broker-dealer failed to identify any red flags indicating possible misconduct, didn’t have the proper supervisory procedures and protocols in place, or failed to stop any suspect activities in your investment portfolio after being notified of them, you may be able to pursue a case against the firm.Filing Your Investor Fraud Claim in FINRA Arbitration
In New York, the Investor Protection Bureau enforces the state’s securities laws, known as The Martin Act. However, their involvement doesn’t necessarily guarantee your financial recovery. It is essential that you have your own team of New York securities attorneys, consultants, and others representing you on your own claim and fighting to get your money back.
When you and your broker agreed to work together, you signed a document stating that any disputes would be resolved through Financial Industry Regulatory Authority (FINRA) arbitration.
SSEK Law Firm has successfully represented thousands of investors in FINRA arbitration and private arbitration, litigation, and mediation. The majority of our clients have recovered at least some if not all of their investment losses.Fighting for Investors in Buffalo and the Surrounding New York Areas
With over a century’s worth of collective experience in securities law, our New York securities attorneys have successfully gone up against some of the largest financial firms in the US, most of which are based in New York. We have the knowledge and the resources that our clients need to maximize their chances of a successful case outcome.