{"id":6279,"date":"2018-07-31T15:03:42","date_gmt":"2018-07-31T19:03:42","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=6279"},"modified":"2018-07-31T15:03:42","modified_gmt":"2018-07-31T19:03:42","slug":"stockbrokers-selling-away-securities-arbitration-claims","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/stockbrokers-selling-away-securities-arbitration-claims\/","title":{"rendered":"Stockbrokers Selling Away Securities Arbitration Claims"},"content":{"rendered":"

\"Former-New-York-Life-Broker-Jonathan-Williams-Barred-by-FINRA-as-a-Result-of-Outside-Business-Activities-300x200\"If your financial advisor recommends an investment that is not approved by his firm, he may be selling away. Do you trust him or her to make the right investment decisions for you? Do they consult with you and allow you the freedom to review information on your own, and encourage you to communicate with him on a personal e-mail? Or do you just take it on faith, and wonder if you\u2019ve been convinced with a winning smile, charming demeanor or an official-looking prospectus? Dishonest brokers do this every day, and are only found out when they slip up and do something wrong or the investor learns his money is gone.<\/p>\n

Many people have a \u201cside hustle\u201d outside of their \u201cday job\u201d that they do for extra money, personal satisfaction or both. It may be as a part-time job in retail, freelancing after hours or starting a small business. You may even know someone holds parties to sell products directly. While there\u2019s nothing inherently wrong with most side jobs, it\u2019s entirely different when your broker does \u201csomething on the side.\u201d \u00a0These outside business activities, at a minimum, are supposed to be disclosed to the firm and approved for sale to the customer.<\/p>\n

Anytime a broker does something else, they\u2019re required to notify the firm and get permission, in case there is a conflict of interest and other reasons. (Most large companies require notification for any kind of \u201cmoonlighting.\u201d) Some brokers have been known to sell securities outside of their firm\u2014even legitimate ones\u2014without notifying their firm of this outside business interest. A concept frequently referred to as selling away<\/a>.\u00a0 That\u2019s why research is so important.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

If your financial advisor recommends an investment that is not approved by his firm, he may be selling away. Do you trust him or her to make the right investment decisions for you? Do they consult with you and allow you the freedom to review information on your own, and encourage you to communicate with […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[599,584,580],"tags":[],"class_list":["post-6279","post","type-post","status-publish","format-standard","hentry","category-securities-arbitration","category-selling-away","category-stockbroker-misconduct"],"yoast_head":"\nStockbrokers Selling Away Securities Arbitration Claims — Securities Arbitration Lawyers Blog — July 31, 2018<\/title>\n<meta name=\"description\" content=\"If your financial advisor recommends an investment that is not approved by his firm, he may be selling away. 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