If you are looking to invest or already have undertaken one or numerous ventures, it can be tricky trying to ensure that you have everything you need to protect your investment. This is where an investment lawyer steps in and it is essential that you take the time to ensure that who you choose to give you advice is most suited for your investment venture.
5 Questions to Ask When Hiring an Investment Lawyer
1. What specifically are you after?
Be sure to understand what you are trying to solve, as exactly as possible. This will ensure that when you search for an investment lawyer, you know what you need them to solve for you. Although be sure to keep in mind, that once the issue at hand is unpacked, you may find that the solution you are after may not be exactly what is best for you.
2. Is this lawyer qualified?
If you are wishing to involve a lawyer from a law firm, be sure to check upfront whether they have expertise in the area of investment law and the track record that suits your business needs. This includes what similar cases have they dealt with and seeing whether they are successful in investment law. Reviews can be helpful too, such as the one provided by the customized searches of LawPath’s lawyer directory.
3. What experience does the lawyer have?
In addition to the lawyer’s expertise, be sure to check if the lawyer is registered. Specifically, if the investment lawyer is also providing financial advice, it is essential to check if they hold an Australian Financial Services (AFS) license, or work under a firm that holds a AFS license.
Be sure to quickly check the ASIC website to see if the lawyer is registered to give you such advice. You can find this information via the financial advisors register.
4. How long will you require their help?
Be sure to outline how long you will be requiring their assistance by gauging the period you wish to be involved in that investment scheme. In this time, the investment lawyer may also need to be in contact with others who are working with you, including an accountant. It is essential that you outline how you will maintain in contact and what the reasonable turnover will be. This will ensure that you are not left in the dark if you have a query that needs responding to.
5. What will be the legal costs?
Often work within set billable time-frames, usually by designated minute increments. This can cause legal costs to increase exponentially for even the smallest of tasks, including email correspondences between you and the lawyer.
Alternatively, it is increasingly common to charge a flat-rate fee for the legal service you are after. Ensure that this amount is outlined, with consideration of the time frame of the matter.
Investment law is wide in its scope and it is essential that the lawyer is qualified and licensed in the area of investment law that you need help in. We can assist you with finding the right lawyer, by accessing our lawyer directory.