Sunday, November 2, 2008

What does it cost to find out if you have a claim against your stock broker?

Have you been watching the value of your portfolio decline in recent weeks? Are you wondering if these losses could have been avoided? Did your broker do his/her job to help protect your hard earned money?

I have found that many people do not bother to have their portfolio reviewed by an attorney for two main reasons. First, people are embarrassed. They feel that they must have lost their money because of their own stupidity or poor judgment. The second main reason is because they are concerned about the cost. They have already lost money and do not want to throw good money after bad.

With regard to the first issue, unless you are trained in investment management, why feel foolish because you lost money? Our lack of financial training is exactly why we pay big commissions and management fees to a broker. We want an expert to help us manage our portfolio. We have the right to rely on their advice and expect that they will recommend trades suitable for our own financial needs and investment objectives. Do not be embarrassed that you have lost money. As long as you were following the advice and guidance of your broker, you are hardly responsible for what happened.

With regard to the cost, my firm, as well as many others, will offer a free consultation to discuss your potential claim. Simply call me at 727-572-5000 and we can talk about it without charge. If I feel that you do have a case, we will discuss the benefits and expense of retaining an expert to perform an analysis and provide us with a summary of the transactions. But, I will only recommend that you incur this expense if I believe there is a strong likelihood of a recovery once we have this information.

Do not let embarrassment or cost stand in the way of calling a lawyer. If you have seen your life savings shrink and are concerned about how you will make ends meet, give me a call. Even if you do not have a claim, you will sleep better knowing that you explored this option.

Please go to my website for more information.