DO I NEED A LAWYER?

No.

FINRA arbitrations are simple. First a panel of three arbitrators is selected by you and the respondent financial industry party. Once the three arbitrators are selected they will give you a period of weeks to prepare a presentation. Presentations are very informal. There are no evidentiary rules like in court, and arbitrators are experienced in the industry and have a problem-solving attitude. It is unlikely that you'll be tripped up or run over by your opponent. If you are comfortable in business negotiation situations, have good organizational skills, and can present yourself and your situation to the panel you will find the arbitration process easy. There is some paperwork involved but nothing more complex then, and I don't mean to scare you, than appearing before the Internal Revenue Service to challenge an adverse tax ruling on your tax return. Not making law, just settling differences. There are many industry procedures and customs that you probably are already aware of if you are an experienced investor. I encourage people to represent themselves in arbitration, don't be afraid.

HOW MUCH OF THE RECOVERY WILL THE LAWYER KEEP?

If you hire a lawyer, the fee will come from the recovery, if any. Most lawyers who practice in this field do not charge their clients for office visits or for arbitration preparation. They do however, expect to share in the recovery. The amount is a percentage of the recovery and the customary percentages are not cast in stone. You'll find most lawyers will negotiate their percentage of the recovery.   The smaller the claim the more time, the larger the claim, less time….the math means if you have a large sum to claim, and your claim is a “sure win”……negotiate with the lawyer.  If your dollar amount is low  (less than $50,000.00) then you’re negotiating position is weaker unless your claim is a easy win.   Start by talking to your lawyer, if  he/she can’t come up with a split that is fair to you and provides a reasonable return for the lawyer’s time then find another lawyer.   Here  is a chance to evaluate the lawyer’s talk-shop-skills….it’s all about communication and trust….if you can’t trust or communicate with the lawyer in front of you: change the scene (replace the lawyer).  If it starts out bad don’t be surprised if the result is bad.

WHAT CAN A LAWYER DO FOR ME?

Always a good question. Some lawyers do very little other than appear and present at the arbitration. Other lawyers prepare for arbitration by presenting prior awards for similar claims. The better lawyers will know the value of your claim as well as the arbitrators' background and experience level. The best ones can usually win a recovery amount at the high end of the recovery range. The really good ones can swing for the fences and sometimes "hit it out of the ballpark". It's also a small industry so most arbitrators and securities lawyers know the talents and abilities of each of us. Securities lawyers who have a history of successful arbitrations often get quicker and better results. This may sound saccharine but after years of doing this, most arbitrators and lawyers know it's "all about the money" and less about the emotional angst of the claimant. But don't confuse good bedside manner with effective lawyering. The lawyers who win big have one thing in common: they're always very very prepared.

WHAT MAKES A GOOD LAWYER?

What makes a good doctor? What makes a good accountant? What makes a good business executive? Years of doing anything doesn't make you good at it. It's easy to say experience is everything but it's not. Some of us do the same thing over and over again and never get better at. Others learn from their mistakes, resolve to never make them again, and each time they pick up their stethoscope, pencil or telephone, get better at it. I've seen people practice law for 30 years and never pick up a book, go to a seminar, or learn anything new. When you speak to a lawyer ask what they've learned over the years: that's a good place to start.

HOW DO I START THE PROCESS OF RECOVERING MY MONEY?

CALL 1-800-761-3446
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