How to Find an Affordable Securities Arbitration Attorney

Securities arbitration is a legal process that involves resolving disputes between investors and brokerage firms. When a disagreement arises, investors have the option to file a claim with the Financial Industry Regulatory Authority (FINRA) to settle the matter through arbitration. However, the costs of hiring a securities arbitration attorney can be high, leaving some investors feeling like they have no options. In this article, we will explore how to find an affordable securities arbitration attorney.

Understanding the Costs of Securities Arbitration

Securities arbitration can be a lengthy and expensive process. The costs associated with securities arbitration include filing fees, hearing fees, and the fees of the arbitrator and any expert witnesses involved. These fees can add up quickly and make it difficult for investors to pursue their claims. According to a report by the Public Investors Arbitration Bar Association (PIABA), the average cost of a securities arbitration case is $92,000.

Finding an Affordable Securities Arbitration Attorney

When looking for an affordable securities arbitration attorney, it is important to do your research. Here are some tips to help you find an attorney who can provide quality representation at a reasonable cost:

1. Look for a solo practitioner or small law firm: Larger law firms may have higher overhead costs, which can translate to higher fees for clients. Solo practitioners or small law firms may be able to offer more affordable rates.
2. Consider hiring a junior attorney: Junior attorneys may have lower rates than more experienced attorneys. However, it is important to ensure that the attorney has experience in securities arbitration and is supervised by a more experienced attorney.
3. Research pro bono legal services: Some legal organizations offer pro bono or reduced-fee services to individuals who cannot afford an attorney. The Securities Arbitration Clinic at the University of Miami School of Law is one such organization that provides free legal representation to investors in securities arbitration cases.
4. Negotiate fees with your attorney: It is possible to negotiate fees with your attorney. Be upfront about your financial situation and ask if they are willing to work with you on fees.

The Benefits of Hiring a Securities Arbitration Attorney

Hiring a securities arbitration attorney can be costly, but it is important to remember that the benefits can outweigh the costs. An experienced attorney can help you navigate the complex process of securities arbitration and increase your chances of a favorable outcome. In addition, many securities arbitration attorneys work on a contingency basis, meaning they only get paid if you win your case.

Conclusion

Securities arbitration can be an expensive process, but there are options for investors who need affordable legal representation. By doing your research and considering your options, you can find a securities arbitration attorney who can provide quality representation at a reasonable cost. Remember, hiring an attorney can increase your chances of a favorable outcome and may be worth the investment.

External Link: For more information on securities arbitration and finding an attorney, visit the FINRA website.

Citation:

PIABA. (2018). 2018 PIABA Report on FINRA Expungement. Retrieved from https://piaba.org/system/files/2018_PIABA_Report_on_FINRA_Expungement.pdf