Investing in alternative assets like private equity, hedge funds, managed futures, or non-traded REITs can provide diversification but also introduces unique risks. However, misconduct by financial advisors or fund managers can lead to major losses for investors. In such cases, hiring an experienced alternative investment loss attorney to file a claim and represent your interests can greatly improve the chances of recovering your money. This review covers tips for finding and vetting the right lawyer to recoup alternative investment losses.
Focus on attorneys experienced with alternative investment cases
Many attorneys may claim to have experience with investment cases, but relatively few have specific expertise in alternative investments like private placements or structured products. It’s important to find someone who thoroughly understands the complexities of these assets and the laws governing them. Verify if the lawyer has represented other clients for alternative investment losses, the types of cases involved, and the results obtained.
Understand how your attorney will charge fees
Most investment loss attorneys work on a contingency fee basis, meaning they only collect if money is recovered for you. Typical contingency fees range from 30% to 40% of the amount collected. Some may charge hourly fees for initial consultations. Be clear on the fee structure so there are no surprises.
Ask about the lawyer’s strategy for your case
An effective attorney will evaluate the specifics of your situation and explain their approach for recovering your losses. This could involve litigation or arbitration against the brokerage firm, pursuing FINRA claims, or direct action against fund managers. Understand the pros and cons of their recommended strategy.
Check client reviews and ratings
Like with any professional service, client reviews and ratings can provide valuable insight into an attorney’s skills, responsiveness, and track record. Search for reviews on Google, Facebook, or Yelp. You can also check sites like Avvo that rate lawyers. Look for consistent positive feedback.
Meet or call the attorney before retaining them
Schedule an initial consultation to meet with the attorney in person or do an introductory call. This gives you a chance to assess their knowledge of alternative investments and comfort level in working with them. Be attuned to how clearly they communicate and if they seem genuinely interested in your case.
Doing due diligence in selecting the right alternative investment loss attorney gives you the best shot at successfully recouping your money. Focus on verified experience, clear fee structure, case strategy, and client reviews.