Selling Away Attorneys

Our Selling Away Attorneys Represent Investors In Recouping Your Losses

If you sustained investment losses and wondering whether broker misconduct or negligence played a part, contact Shepherd Smith Edwards and Kantas Selling Away Attorneys (investorlawyers.com) today. We have been representing US investors for more than 30 years against broker-dealer and investment advisers.

One type of stockbroker fraud that happens is called selling away. That is the term given to when a financial advisor sells a security that their firm has not vetted and approved to a client. This can be highly risky for the investor because this means that the brokerage firm has not done the necessary due diligence to ensure the investment’s legitimacy, safety, and compliance. This could expose the customer to potential fraud and loss.

Unauthorized selling away usually occurs without the firm’s knowledge. However, it is important to note that in certain situations, selling away is allowed as long as the financial advisor tells their broker-dealer and receives its approval in advance of making the transaction.

Selling Away That Is Considered Broker Misconduct

A registered representative might sell away because they don’t want the firm to know about their activities and so as to avoid oversight by its compliance department. Financial advisors who sell away might try to avail of the high commissions that come from obscure, illiquid unregistered products. An investment professional might sell away to hide the fact that they are running their own scam to defraud investors, including customers of the broker-dealer.

Suing Your Brokerage Firm Over Your Selling Away Losses

Broker-dealers have a duty to properly supervise their customers’ accounts and their registered representatives activities with these clients. If unapproved selling away occurs, and the investor falls victim to unsuitable investment recommendations, some type of Ponzi scam, overconcentration, or some other type of negligence that leads to serious losses, the brokerage firm could be held liable. The broker-dealer could also be sued if they approved the investment being sold away and serious losses occurred due to broker misconduct or fraud.

To sue a brokerage firm, you will have to do that in FINRA arbitration. This is not the type of legal claim that you want to pursue without trusted FINRA attorneys by your side.

Shepherd Smith Edward and Kantas Selling Away Attorneys have represented many victims of selling away over the years. We know how to determine when this has happened and can build a solid case that will maximize an investor’s chances for financial recovery.

Contact Our Selling Away Attorneys Today

Call (800) 259-9010 or fill out this form.