Do I need a lawyer in brokerage dispute arbitration?
Although arbitration of claims against brokers is relatively informal, and there is no requirement that a person must be represented by a lawyer, using an attorney to represent your interests almost always makes sense.
The broker and brokerage firm will almost certainly have attorneys to represent them in the arbitration You would be at a real disadvantage without someone who knows how to present the facts and who know the arbitration rules and procedures.
Your decision about using counsel or going it alone may depend on the amount of money involved, the nature of the controversy, the facts in dispute, and how important the matter is to you.
Generally the assistance of an experienced attorney will range from helpful to indispensable. If the loss is your broker’s fault, you don’t want to lose again because you don’t have an experienced attorney to represent you.
Remember that the arbitrators' decision will be based solely and exclusively on the documents and related material provided by the parties and, if there is a hearing, any testimony presented at the hearing. It is therefore important that your case be carefully and thoroughly prepared.
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