Wanezek, Jaekels, Daul & Babcock, S.C. Attorneys at Law — Founded 1908

INVESTOR MALPRACTICE

Persons entrust financial advisers to make wise decisions in the handling of their money.  Many times the investments perform poorly or lose money. 

INVESTOR LIABILITY IN WISCONSIN
So long as the investor applied competent techniques in analyzing the investment and advised his or her client appropriately, there is generally no liability to the investor or the financial institution that employs him/her.  But in some cases investors make blatant mistakes that are not attributable to fluxuations in the stock market.  For instance, investors may take actions that create unwarranted tax liability for their clients, or make decisions based on what commissions they can generate for themselves rather than decisions that benefit their clients. In such cases, persons suffering from the situations do have recourse.

FINRA ARBITRATIONS
Generally there is an agreement in place that the parties agree NOT to go to court but instead agree to arbitrate the matter through the Financial Institution Regulatory Authority (FINRA).  FINRA requires the aggrieved investor or financial adviser to file a complaint and then appoints an impartial third party to arbitrate the matter and function much the same way a judge would operate.

There is also an opportunity to mediate the matter.  However the process is complex. A person not represented by experienced legal counsel would be at a big disadvantage against the financial institution that is denying they have any responsibility to fix the problem that it’s financial advisers created.

CONTACT A LOCAL ATTORNEY
If you have such a situation in the Green Bay Wisconsin area, you should contact Attorney David Daul of Wanezek, Jaekels, Daul & Babcock, S.C., for further consultation. He is an attorney experienced in this area of the law. Call (920)437-8191, or contact him online today. The experienced attorneys and staff at our local law firm are ready, willing and able to assist you.

Tags: Business Law Estate Planning Litigation