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How to Choose a Financial Advisor Representation Attorney in Florida

Simms Law, P.C. June 14, 2022

As a financial advisor, you understand that every investment carries a certain degree of risk. And although you disclose the potential risks of different investments to your clients, some will ultimately pursue legal action against you for their losses, even when such losses are due to market swings or bad luck. Common accusations leveled against financial advisors by investors include:

  • Negligence, fraud, and breach of fiduciary duty

  • Churning

  • Unsuitable investments

  • Lack of diversification

  • Inadequate supervision

  • Selling away

If you’ve been accused of any of these types of actions, it is imperative that you obtain experienced legal counsel to handle your case. Below are some tips on how to go about choosing a financial advisor representation attorney in Florida.

Ask For Recommendations

An excellent place to start your search for a Florida financial representation attorney is friends, family, and colleagues. Make sure to specifically seek out individuals who’ve dealt with legal issues like your own. Good questions to ask include:

  • What type of legal issue did you deal with?

  • Who was your attorney?

  • What was the result of your case?

  • Would you use the same attorney again?

Meet With Financial Advisor Representation Attorneys

Once you’ve identified a prospective attorney, you should arrange an initial consultation. Be sure to ask questions during your meeting. In addition to gauging your comfort level with the attorney during your initial consultation, you should solicit information regarding the attorney’s primary practice areas, past results, and general thoughts about your case.

Determine The Cost

An additional issue to discuss during your initial consultation is cost. You shouldn’t enter into an attorney-client relationship without first ensuring that you have a clear understanding of this issue. Attorneys base their fees on several factors, including complexity of the case and overall time commitment.

Beware of Big Promises

An attorney’s past results are generally a great predictor of future success, and financial advisor representation attorneys can share this information with you if you request it. However, no attorney should ever promise you that your case will be successful. Therefore, make sure you choose an attorney who is both optimistic and realistic.

Fort Lauderdale Financial Advisor Representation

If you’re a financial advisor and you’ve been sued by a client, Simms Law, P.A., will fight for your rights. At Simms Law, P.A., we have a reputation in the industry for honesty, integrity, and aggressiveness, and one of our primary areas of practice is the representation of financial advisors who’ve been treated unfairly by their clients. Our representation of financial advisors covers a wide range of issues, including: the expungement of disclosures through FINRA expungement proceedings, compensation issues, raiding-related claims, and matters pertaining to the successful transition from one firm to another. If you are a financial advisor and need legal representation in Fort Lauderdale or elsewhere in Florida, please contact us by phone or through one of the contact forms on our website to schedule a free consultation.