Thousands of investors hit with losses last year are filing arbitration claims against their financial advisors -- and their odds of winning look to be rising.
Investors Take Aim at Brokers
October 21, 2009
Thousands of investors hit with losses last year are filing arbitration claims against their financial advisors -- and their odds of winning look to be rising, according to Clare McKeen, a video correspondent for Barrons. Since the market meltdown a year ago, nearly 5,000 arbitration cases have been filed this year, up 65 percent from a year ago. So far this year, investors have won 45 percent of cases against advisors. Moreover, post Madoff, Congress is considering letting disgruntled investors take their claims straight to court, which may increase the number of cases that investors win.
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