Albany, NY asked in Stockbroker Fraud for New York

Q: If I feel like my broker is making trades that aren't in my best interest, can I request that my account be audited by a

neutral third party?

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2 Lawyer Answers
Ali Shahrestani,
Ali Shahrestani,
  • San Francisco, CA
  • Licensed in New York

A: It depends on the terms of your contract. Check the wording re: disputes and fiduciary duties. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, I practice law in CA, NY, MA, and DC in the following areas of law: Business & Contracts, Criminal Defense, Divorce & Child Custody, and Education Law. This answer does not constitute legal advice; make any predictions, guarantees, or warranties; or create any Attorney-Client relationship.

Joel Ewusiak
Joel Ewusiak
  • Stockbroker & Investment Fraud Lawyer
  • Tampa, FL

A: Most likely, your current securities broker and brokerage firm will not send your account to a third party for an audit, if you make such a request. However, you may independently consult with another securities broker or lawyer to get an opinion on whether the trades are suitable in light of your investment objectives, financial circumstances, and risk tolerance. Most securities lawyers, like myself, will provide a free consultation to determine whether you have a claim against the securities broker and brokerage firm.

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