Statistics Don’t Lie/Liars Use Statistics: FINRA published numbers
FINRA has some interesting numbers to share: you can decide what it means: Investor Complaints for 2006: 5,671 and for 2010: 3,208. What that means is that complaints of broker fraud, broker abuse, and broker misdeeds go up and down with the market. In 2009 there were 5,067 and then in 2010 3,208. Does that mean that stock brokers are not abusing client funds? Or does it mean something else? A rising tide lifts all boats or, like doctors who bury their mistakes in graveyards, brokers who churn client funds or place them in high risk investments don’t get complaints because the client is making money. No touch no foul in a rising market means there’s a lot of misdeeds that will surface when the market “corrects”. If, when, the market drops most of you will be searching on your statements for broker fraud, don’t bother: call a South Florida stock broker fraud lawyer and ask him or her to look over your statements. Not all stock broker corrupt acts appear on your statement, like a good criminal they try to cover their tracks. I’ve been on their track since 1976 and I have a good nose, so you should call for a free consultation. Another interesting FINRA statistic is over 70% of arbitration claims resolve with an award for the claimant. So if you believe you have been the victim of stock broker fraud, or you’ve been placed in investments that are high risk (example: a retiree who owns CDOs or IPO’s) then call a stock broker fraud lawyer here in Florida.