Representation of Financial Advisors in Promissory Note Cases



Registered representatives are often promised lucrative careers, fabulous platforms, significant resources, large travel budgets and access to many financial products, coupled with significant upfront monies, by recruiting brokerage firms in exchange for several year employment commitments and promissory notes.  High expectations are then disappointed and critical promises are found to be empty when the registered representative starts the new job and realizes that he has been fraudulently induced into a position that is drastically different then described.  The advisor then cannot run a successful business, causing tremendous financial loss and the inability to satisfy the promissory note’s financial obligations.   Or, over time, the brokerage firm changes policy or eliminates critical revenue streams for the financial advisor that kills his ability to make a living, as well as the ability to pay back the promissory note.

David Chase, a securities attorney and principal of the Firm, knows that this happens every day in the securities industry.  The Firm represents and zealously fights for mistreated financial advisors and stockbrokers, and those representatives who have been wronged by their employing firms, in promissory note and employee forgivable loan FINRA arbitration cases.  In most cases the Firm handles, the financial advisor will aggressively fight back, often filing counter-claims against the brokerage firm for fraud and breach of contract.

If you are a registered representative who was fraudulently recruited and induced into signing a promissory note under false pretense, or who has suffered financially due to a material change in firm policy that rendered you unable to successfully conduct business — and have been sued by your former employer on your promissory note, call today for a free and confidential consultation.

The Firm represents financial advisors nationwide in promissory note and employee forgivable loan cases before FINRA.