3 Reasons to Hire a NJ Securities Arbitration Lawyer

While investors and investment professionals generally have positive interactions, a securities arbitration lawyer sometimes must step in. You do have the option of representing yourself during arbitration. However, that is usually a mistake. An attorney can help you succeed and reach your goals during the arbitration. This is apparent when you learn the top three reasons to hire an attorney for arbitration.

Benefits of hiring a securities arbitration lawyer

Securities arbitration is used to handle various claims. These include churning, malfeasance, price and market manipulation, and unauthorized trading. Many people prefer going to arbitration instead of litigating the case since it is more affordable. Even so, arbitration and litigation share the same regulatory and legal guidelines, meaning the process is complex. By hiring a securities arbitration lawyer, people get help during every step of the process. That means from selecting the arbitration panel to determining if the claim is valid and presenting the case.

1.Get help selecting arbitrators

Both parties try the cases in front of a panel of arbitrators. Panels range from one to three arbitrators, depending on the size of the claim. The Financial Regulatory Authority (FINRA) has more than 6,000 public and private arbitrators at its disposal. Before proceedings, the FINRA sends a random list of arbitrators to both sides. Each side can strike arbitrators but must follow the FINRA rules when doing so.

The list includes background information about arbitrators. However, the uninitiated have difficulty determining which people are right for the case. A securities arbitration lawyer relies on information from previous cases when guiding clients. Then, clients can strike arbitrators who are not a good fit. This puts clients in a position to succeed.

2.Determine the validity of the claim

Securities cases are often emotional. Sometimes, emotion gets in the way of judgment, causing people to think they have a claim when they do not. Other times, people assume they lost money due to bad luck and do not have a claim. Hiring a securities arbitration lawyer makes it easy to determine if a claim is viable. If the claim is viable, people can move forward with arbitration while enjoying the protection of client-attorney privilege. At the same time, if the claim is not valid, people can save time and money.

3.Stand on equal footing

The other party is likely to have an attorney. If one side has an attorney and the other does not, it is difficult to avoid costly mistakes that damage the case. By hiring a securities arbitration lawyer, both sides begin on even footing. The two lawyers handle the communication, and the parties do not have to worry about damaging the case.

Position yourself to reach your arbitration goals

Meeting arbitration goals often begins by hiring an attorney. Once you hire an attorney, you can put your heads together and make sense of the claim. Before long, your attorney will present your case in front of the panel, ensuring that your interests are represented. Then you can march closer to a successful outcome.