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Choosing an Investor Representation Attorney

Simms Law, P.C. June 14, 2022

Although investing carries a certain amount of risk, investment losses aren’t always caused by bad luck or market fluctuations. Unfortunately, investment losses are often the result of unscrupulous behavior by financial professionals. There are several prohibited ways in which brokers and advisors lose money for their clients, including:

  • Inadequate supervision 

  • Unsuitable investments

  • Lack of diversification

  • Negligence

  • Breach of fiduciary duty

  • Fraud

  • Churning

  • Selling away

A financial professional who engages in these behaviors can be held liable for resulting financial losses. If you’ve lost money due to the improper actions of a financial professional, the first thing you should do is hire an investor representation attorney. Below are some tips on how to choose an investor representation attorney.  

Seek Recommendations 

You should begin your investor representation attorney search by speaking with friends and family. Specifically, you should seek out individuals who’ve dealt with legal issues like the one you’re currently facing. 

Schedule Initial Consultations

Most attorneys offer free initial consultations. It’s always a good idea to meet and speak with prospective attorneys before deciding who will represent you in your legal matter. Scheduling an initial consultation not only gives you an opportunity to ask questions about an attorney’s legal background and experience, but it gives you a chance to gauge your comfort level with a prospective attorney. You may be working with this individual for a long time, so it’s important to choose someone with whom you have a good rapport.  

Discuss Fees

When you meet with an attorney, be sure to find out his or her fee structure. Attorneys base their fees on many factors, including relevant experience. A reliable way of estimating the potential cost of your case is to ask each attorney you meet with what the total price was for similar cases he or she previously handled. 

Take Your Time

Although you should start your attorney search as soon as possible, be sure to take enough time to make a good choice. In other words, you don’t have to hire the first attorney you meet with. 

Beware Of Big Promises

Finally, a good rule of thumb when choosing an attorney is to beware of big promises. Although a great way to judge an attorneys’ effectiveness is by his or her past results, no attorney should ever promise you a particular result in your case. If you meet with an attorney who guarantees you a successful outcome, look elsewhere!

Contact An Investor Representation Attorney 

If you’ve suffered financial losses due to the action or inaction of a financial professional, you need an experienced investor representation attorney on your side. At Simms Law, P.A., we are dedicated to protecting the interests of investors. We always take our clients’ concerns seriously, and we know what is at stake when an investor suffers losses in the financial markets. Therefore, if you require expert legal guidance in Florida, please contact us for a consultation.