Since I have turned the ripe age of 21, a lot of financial stuff has come under my control

While this is cool and all, I've been reading through the contracts and noted a handful of arbitration clauses (this is through HBK Source Advisory).

I'm definitely familiar with arbitration clauses through credit card disputes and the laws that pertain to them, but since this is through a brokerage account I know the same laws do not apply.

Does anyone have any information relating to refusing arbitration clauses for investment management ?

__________________
-Typos courtesy of my mobile phone.

everyone has their own thoughts regarding binding arbitration clauses. to me, arbitration saves everyone time and money because if a case goes to court it can end up costing both sides a lot of time and money. but that's just my two cents, others may see it differently.

I would call your attorney and ask for his advice, depending on how much is involved and where it is giving up your right to sue might not be in your best interest.

OTOH I don't have much experience with brokerage accounts this may be standard, I don't venture outside of RE with my investing.

__________________
2006 CL500
2009 C300 4matic
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Unless the party you are potentially going to do business with waives it, I'm afraid you will be doing business by their rules, not yours.

Unless you have several million dollars, scratch that, several tens of millions of dollars to invest with them, they'll change nothing is my prediction. Brokerage firm or not.

Their terms of agreements on their contracts are written for these firms by teams of teeming attorneys that dot all the Is, and cross all the Ts.

I can't see them yielding or changing any contract for anyone with even a measely few million dollars to place with them.

__________________
'06 E320 CDI
'17 Corvette Stingray Vert

In my experience, it really depends on just who that arbitration entity is, as to whether you want them to arbitrate anything for you.

But as I wrote above - changing a brokerage firm's way of doing business - just ain't gonna happen.

__________________
'06 E320 CDI
'17 Corvette Stingray Vert

That's what I thought, but I had a lot of fun doing this with my credit card company so it's worth a shot.

I agree, arbitration can help but a lot of times I don't trust the forced nature of such agreements as well as the "we pick the arbiter".

I crossed off the clause and attached a note saying I am uncomfortable with it. If they don't like it they are more than welcome to contact me. Worst they can do is say, "Yeah you can't cross off clauses like that" right

__________________
-Typos courtesy of my mobile phone.

that's exactly correct. to me, an agreement is co-authored or co-written by both parties who then memorialize it by affixing their signatures. in agreements written by only one party, the author is called the 'Czar of the Contract' and has an automatic unfair advantage. the 'Czar' is presenting the agreement to you on a 'take it or leave it basis' or as you say, 'forced' terms.

Generally speaking I wouldn't be looking for legal advice on a car forum....(or marital advice or investment advice etc)

__________________
MB-less