Believe it or not, many AdvisorLaw clients are financial advisors who fired their previous attorney and hired us to represent them in a FINRA customer dispute or U5 termination expungement case that was being botched. On the heels of our success with customer dispute disclosure expungements through FINRA arbitration, we have seen firms pop up, one after another, presuming that they can have equivalent success, solely based on AdvisorLaw’s high-performance track record. Unfortunately, just because a Kia and a Ferrari may have the same general, aerodynamic shape, does not mean that they can both achieve the same quarter-mile time. FINRA Rule 2080 expungement is a race track that has many twists and turns—it’s never a Sunday drive down a country road.
Is your firm full of attorneys who typically represent B-Ds against nuisance claims by investors?
Do they often conveniently settle out?
If so, they are woefully behind the curve of understanding all angles that are key to actually fighting the merits of these customer complaint that show on your BrokerCheck profile. Indeed, the individual merit of a customer dispute takes a back seat to simply calculating a “cost to the firm.” They might as well just be accountants. Of course, these are the same compliance attorneys who told you not to worry, that they’ll take care of it, and you ended up with a nice, glaring, meritless disclosure on your BrokerCheck and Form U4. So much for defending your good name.
Is your firm under-resourced? Does it only have a couple of employees, or, worse, is it a one-man shop? Will it even be solvent a year from now, at the close of the case?
This BrokerCheck dispute process is built on numerous elements that strategically combine to create the final product:
One person simply is not an expert at all parts of a FINRA expungement arbitration—a small engine can’t deliver the torque that a muscle car can. If you pop the hood at AdvisorLaw, you can see all of the components that give us so much horsepower.
Does your attorney only talk about how they are cut rate? Are they elusive when asked about past results?
One sure thing in life is that you will get exactly what you pay for. Do not fall for the sales pitch or false promises. Do not fall for evasive answers to these questions. Please, do not fall prey to the exact firms that FINRA itself has warned advisors about. You don’t want to put in all the effort to prepare for the race only to blow your engine just off the starting line.
With AdvisorLaw, it’s easy to get all of your questions answered, without any spin. The test results of our high-performance engine speak for themselves.
AdvisorLaw prominently displays the raw data, verifiable at FINRA, that shows exactly who we are:
When you start weighing these factors, you can see why many advisors ditch their lemon on the side of the road to upgrade to AdvisorLaw. We can help you protect your livelihood.
Executive Vice President
This blog is our ongoing effort to inform and educate FINRA licensed professionals about the evolving regulatory ecosystem in which we operate.