We don't expect you to keep your finger on the pulse of the advisor-defense industry. So let us quickly bring you up to speed on the most crucial element that advisors seek when it comes to FINRA expungement of customer dispute and U5 termination disclosures--RESULTS.
Contact us by Phone: (303) 952-4025 for a free consultation as to the viability of your case. We win nearly 90% of our cases, and we can give you an honest assessment as to what it would take to remove disclosures from your BrokerCheck.
PIABA Foundation "Study" of Problems with FINRA Expungement Process Devolves Into Unhinged Manifesto
PIABA, the group of investor-attorneys that are beloved by all financial advisors, have had their Foundation release a "study" ripping the current expungement process to shreds. Yes, the same niche of investor-attorneys known for their billboards along the highway trying to Jedi Mind Trick the next elderly investor into manufacturing frivolous allegations, have gotten self-righteous.
Since we are the only firm exclusively representing advisors, we figured it was our duty to point out some of the problems with their rant.
Click here to access the InvestmentNews article.
Several advisors have told us recently that they went through FINRA's arbitration process and won their claim for expungement months ago. They are asking us how many months they should expect to wait before the disclosure is removed from BrokerCheck and their CRD.
There is no hard-and-fast rule on how quickly after winning the arbitration the disclosures should be removed from BrokerCheck and the CRD. However, AdvisorLaw runs quarterly reports to measure the time between receiving an arbitration award granting expungement, and FINRA removing the expunged disclosure from BrokerCheck and the CRD. In the third quarter of this year, the average time between award and the disclosures being removed was 54-days; about 7-weeks. That is the average for over 50 awards confirmed during the same time period; 185 confirmed YTD.
Being that a number of lawyers have contacted AdvisorLaw asking how to get expungement awards confirmed, we began to ask ourselves what kind of representation are advisors getting when they go elsewhere?
AdvisorLaw handles more expungement claims than the rest of the industry combined. We have never had an award confirmation denied (despite FINRA's efforts). But more importantly, we are not calling other firms asking how to do our job.
You do not get any points on the board for only getting it close to the end zone.
Call or email us today if you are serious about protecting the business and reputation you have built.
President and Founder
This blog is our ongoing effort to inform and educate FINRA licensed professionals about the evolving regulatory ecosystem in which we operate.