Your firm says you did something wrong
You’ve worked hard to build your reputation in the industry, and it doesn’t take much to tarnish everything you’ve built. Sometimes a customer will make a complaint and the firm will react defensively, blaming the financial adviser for something beyond their ability to control. Sometimes, someone else within the firm takes it upon themselves to make a false accusation. We’ve even seen occasions where the firm itself decide to part ways with an FA, either because of a perceived problem or for an improper, discriminatory reason.
Can I do anything about this?
The answer, of course, is “yes.” What and how you go about addressing the issue depends on a number of factors. If you’re a registered representative at a FINRA member firm, you will be required to arbitrate using FINRA’s Dispute Resolution Services. If you are with an RIA, you may have an arbitration clause in your contract (or, if you and the firm agree, you can use FINRA’s arbitration services, but FINRA would be unable to enforce any award against a non-member). What you do next and how to go about achieving the outcome you want will be the subject of a discussion with an attorney–hopefully one of us.
What if the issues involves a FINRA Enforcement investigation? Or the SEC?
We have plenty of experience dealing with investigations led by FINRA’s Enforcement department. We also have experience dealing with SEC investigations or criminal matters led by the DOJ. Whatever the. underlying issue may be, the first step will involve gathering facts about the conduct at issue and then determining what the best next steps are. We handle issues like this all around the country–pick up the phone or send us an email and let’s talk.
