The crime rate in Columbus, Ohio, is 5.6. In the United States, financial advisers should register with the Financial Industry Regulatory Authority (FINRA). This requirement ensures that all newly hired agents receive training and licensing before supporting clients with any financial services.
However, several unregistered “brokers” work without this license, putting consumers at risk. Before you make any decisions, you should retain a Columbus Broker Fraud Lawyer. Here’s why:
1. They Can Help Reclaim Your Losses
Without a FINRA license, brokers tend to have little or no financial industry experience. Instead of investing potential client funds into legitimate investment opportunities, they may take the money and run.
By reaching out to a firm that offers legal representation for investors harmed by unlicensed agents, you can reclaim your losses and put an end to this criminal behavior.
2. They Can Help You Contest Your Termination
Even when a broker has their FINRA license, the contract that most investors sign may state that they can fire the broker with or without cause at any time.
Suppose your agent did not uphold their responsibilities, and you terminate the contract for gross misconduct such as embezzlement. In that case, the firm should provide you with their rationale.
This step can help protect your interests, so long as you can prove that they did not follow the implied terms in the contract and acted illegally in any other way.
3. They Can Identify and Fight for All of Your Rights
No matter how big or small the problem may seem, an attorney will be able to review the legal details of your case and discuss it with you on an individual basis. From there, they can help determine how best to move forward with the next stage of the process.
An experienced Columbus Broker Fraud Lawyer understands that protecting their clients’ long-term interests is essential, even if this means taking aggressive legal action against another party.
4. They Can Make Things Right
If your agent is unregistered and has been stealing from you, in that case, you can ensure they are held accountable for their actions through a Columbus broker fraud attorney or another legal representative.
Whether this means filing a civil lawsuit against the agent or their former employer, your attorney will do their best to ensure that you receive compensation for your losses.
5. They Understand the Law
Because FINRA requirements are highly detailed and ever-evolving, potential clients must consult with an attorney before making decisions about their investments. A Columbus broker fraud attorney will review your case in its entirety, including any relevant state laws.
6. Ready to Go to Trial
When necessary, a broker fraud attorney will be able to take your case before the appropriate court and argue on your behalf. Because these claims can be severely limited in their scope, investors must retain an experienced legal representative who understands what they are facing.
By hiring a Columbus broker fraud attorney, you can ensure that you protect your interests throughout the entire legal process. Your attorney will work hard to recover lost funds and hold all parties responsible for their crimes from start to finish.