Redacting a Groundless Claim

what do financial advisors do

There is a lot of glamor and luxury that comes with working in finance, especially if you are good at your job. It does take a lot of work and grueling effort from your end to make sure to kick things off on the right foot, but once done successfully, it can mean a smooth journey for you later for the most part. One thing that is important in your field is customer trust, so as long as customers are willing to trust you, you are good to go. However, if a claim has been made against you by a customer, then you do have a right to challenge that claim, and even work towards expunging complaint from FINRA record. Of course, this is not possible if you are actually in the wrong, however, there are some instances where you can get a complaint redacted from public records, and this includes:

  • The most obvious condition that allows you to get a claim expunged is if the claim itself is false. If you can prove that the claims being made against you are false then you can get the claim redacted. So, you have to prove that a deal, meeting, or advice never happened from your end.
  • The second situation where an expungement is possible is if the claims have factual errors and inconsistencies. So, if a client claims you have made bad deals and given them bad advice, you need to go over their claim and point out any serious discrepancies in the claim to cast doubt over it. Once this is done, the FINRA will work to remove the baseless claim.
  • The last situation where you have the upper hand and can get a claim redacted is if you had no involvement in the situation.