We are living in a world today where people are busy finding ways to defraud others. Various scams, cons and tricks have made millions of people lose their hard-earned money to crooks every year. The president of the United States Donald J. Trump himself was embroiled in a lawsuit that claimed he was part of a conspiracy to defraud their students. We’ll never know if he was guilty or not because he paid $25 million to settle the lawsuit.
More than ever, it is a rough time for those in the securities industries, and especially for unsophisticated investors. Finding the right broker to handle your account can be difficult; one that makes you money more so. But like everywhere else there are brokers who look out for their commissions more than your stock portfolio value and profitability. When stock loss occurs due to their misconduct, you can pursue the recovery of stock loss.
So you seek out a stock loss recovery firm, and if not careful can become a victim of fraud. But there are ways to protect yourself. First, take your time. Do your homework. Act based on facts, not impulse. Here are a few tricks and tips when you’re seeking a stock loss recovery firm to represent you.
Use the Internet to your advantage
The Internet is a chock full of information. This is true, but like in other facets of life you have to be able to separate hype from truth. There are certain red flags that could alert you to a scam.
Value others’ feedbacks
When you research stock loss recovery firms, don’t rely solely on what they say on their website, or in press releases.There are many complaint boards on the Internet as well, where you can review what customers had to say. Of course because a consumer posts a complaint doesn’t make it absolute truth either. So check and cross check to see what rings true to you. For example, Cold Spring Advisory Group says they are the biggest and best stock loss recovery firm in the country. Others disagree, and you can review some of their complaints on Rip Off Report, Scamalot, Complaints Board, or Pissed Off Consumer.
As an investor, you should always stay updated with the alert notices that are published in the FINRA newsroom. The easiest way to protect yourself from stock loss recovery scams is to know more about stock loss recovery firms. Consider the guidelines set out by FINRA and remain cautious — if it seems too good to be true, it’s possibly a scam.