DEFENDING YOUR PROFESSIONAL INTEGRITY
Stay current on recent changes in the regulatory environment
With the very public nature of the regulatory environment these days, the potential upside for cleaning up a financial advisor’s BrokerCheck profile is simple to understand. The less derogatory remarks listed directly underneath the advisor’s name, the better. Advisors typically have an immediate and sometimes visceral reaction to many customer disputes that were unwarranted, inaccurate, or settled solely as a business decision by their firm. Getting vindication against a meritless customer allegation can often be the most rewarding part of the Rule 2080 expungement process.
However, absent the emotional side of a victory, advisors want the same thing that their clients want – to be shown a positive return on their investment. With numbers and spreadsheets in hand, an advisor can demonstrate real financial benefit given a client’s financial situation. Likewise, an advisor should run some preliminary numbers on their own business to determine if investing in the expungement of disputes makes fiscal sense.
There’s no “one size fits all” calculator for all types and sizes of financial advisors but the following are three scenarios to keep in mind when running the numbers.
If you understand the benefits involved in expunging meritless customer disputes but want to talk through the costs you can expect, call us today for a consultation on your individual case.
EA, Executive Vice President
3400 Industrial Lane, Unit 10A
Broomfield, CO 80020
This blog is my ongoing effort to inform and educate FINRA licensed professionals about the evolving regulatory ecosystem in which we operate.