---
title: "What Does an Investment Fraud Lawyer Cost? Pricing Guide"
url: https://afdcenter.com/what-does-an-investment-fraud-lawyer-cost-pricing-guide/
description: "You lost money to a broker's bad advice and now you are weighing whether a lawyer costs more than the loss itself. Most investors assume legal help means hourly bills and."
published: 2026-10-07
updated: 2026-10-07
---

# What Does an Investment Fraud Lawyer Cost? Pricing Guide

Published 2026-10-07

Entry

October 14, 2026·[Uncategorized](https://afdcenter.com/category/uncategorized/)

You lost money to a broker's bad advice and now you are weighing whether a lawyer costs more than the loss itself. Most investors assume legal help means hourly bills and a retainer, which keeps them from ever calling. That assumption is often wrong in securities cases.

This guide breaks down how investment fraud lawyers actually charge, comparing contingency fees, hourly rates, and flat fees, and explains what Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com, means by no recovery, no fee. You will also see which case costs still land on you in FINRA arbitration, such as filing fees and expert witnesses, so you can decide whether pursuing a claim makes financial sense.

## What Is Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com?

Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com, is a national securities and investment fraud law firm that represents individual investors in claims against brokers, advisors, and financial institutions. The practice handles cases across the United States, so a client in any state can pursue a claim without needing a local firm.

What sets the firm apart is its origin. It was founded by **two former Wall Street defense lawyers** who, before representing investors, defended some of the largest financial services firms in the world in securities arbitration and litigation. That background gives the partners a working knowledge of how brokerage firms build their cases, where they cut corners, and where their arguments are vulnerable.

The firm describes its model as **"Big-Firm Results. Boutique-Firm Service."** Clients work directly with the two partners, not a rotating team of associates, from the first consultation through resolution. This matters for cost and clarity: the people evaluating your claim are the same people handling it.

For readers of this pricing guide, that structure is the starting point. Understanding who the firm is helps explain how it charges, which the sections below cover in detail.

### Who the Firm Serves and the Misconduct It Handles

The firm serves individual investors, retirees, families, trusts, and estates across the United States who have lost money due to broker misconduct, unsuitable investment recommendations, advisor fraud, or fraudulent schemes. It has also represented corporations, pension plans, and charitable organizations. A significant part of its work involves older investors and the families of elder financial abuse victims.

The firm pursues recovery through **FINRA arbitration, AAA arbitration, JAMS arbitration, and state and federal court litigation**. Most investor disputes against brokers and advisors move through arbitration rather than a courtroom, and the choice of forum can affect both the timeline and the cost of pursuing a claim.

The categories of misconduct the firm handles include:

- Investment fraud and securities fraud
- Financial advisor fraud and broker misconduct
- Churning and unauthorized trading
- Breach of fiduciary duty and negligence
- Misrepresentation and unsuitable recommendations

Concrete examples help clarify what these labels mean. Churning is excessive trading designed to generate commissions rather than returns. Unauthorized trading is a broker placing trades without client approval. An unsuitable recommendation might involve steering a retiree into a high-risk product that does not match their stated goals. Misrepresentation can include exaggerated performance claims or omitted risks.

Each of these claims requires evidence, which is why forensic accounting and expert witness work often shape the cost of a case. The firm's focus stays on one side of the table: recovering losses for investors, not defending the firms that caused them.

## How Investment Fraud Lawyers Charge: The Main Fee Models Explained

Investment fraud lawyers typically use one of three fee models: contingency fees, hourly rates, or flat fees, each with distinct implications for the client. The model a firm chooses often reflects the type of case, the amount of money at stake, and how much risk the attorney is willing to share.

This section explains how the legal industry as a whole structures attorney compensation in investment fraud matters. It is a broad overview, not a description of any single firm's pricing.

Understanding these models matters because **legal fees can consume a meaningful share of any recovery**. A victim of a Ponzi scheme or investment scam who has already lost money needs to know upfront what representation will cost.

Most securities fraud cases fall into a few categories: FINRA arbitration claims, individual lawsuits, class actions, and matters tied to SEC enforcement or regulatory investigations. Each category tends to attract a particular fee structure.

- **Contingency fees** tie payment to the recovery of losses.
- **Hourly rates** bill for time spent, win or lose.
- **Flat fees** charge one set price for a defined scope of work.

Many firms also require an upfront retainer, which functions differently depending on the model. Under a contingency arrangement, the retainer may cover case costs rather than attorney time. Under an hourly arrangement, it is applied against ongoing billing.

The following subsection compares these structures in detail, including typical ranges and the situations where each makes the most sense for victim representation.

### Contingency Fees, Hourly Rates, and Flat Fees Compared

A contingency fee means the attorney receives a percentage of the recovery only if the case succeeds, while hourly rates and flat fees require payment regardless of outcome. That single difference shapes everything about how a case is pursued.

Contingency fees typically range from about 33% to 40% of the amount recovered. The percentage often rises as a case moves later into the process, such as from pre-filing negotiation to arbitration hearing or trial.

The main advantage for investors is clear: no attorney fees unless money is recovered. This aligns the attorney's interests with the client's, since both benefit from maximizing the recovery of losses.

The tradeoff is that a successful case costs more than it would under an hourly arrangement, and the client gives up a share of the award. Contingency is most common in FINRA arbitration claims, individual lawsuits, and class actions where damages are quantifiable.

Hourly rates for experienced securities fraud attorneys commonly fall in the **$300 to $600 per hour** range, with senior partners at the higher end. Paralegals and junior associates bill at lower rates.

Under this model, the client pays for every hour of work: case review, legal research, drafting, discovery, depositions, and hearing preparation. Costs like court filing fees, arbitration fees, expert witness fees, and forensic accounting are usually billed separately.

The risk is obvious. A case can run for months or years, and the bill arrives whether the outcome is favorable or not. Hourly billing appears most often in complex commercial disputes, regulatory defense work, and matters where the client has ongoing business with the firm.

Flat fees charge a single agreed price for a defined task or phase of a case. A flat fee might cover an initial case evaluation, drafting a demand letter, or handling a straightforward arbitration through to a settlement conference.

Flat fees offer predictability, which many investors value. The downside is scope: if a case expands beyond what was originally contemplated, additional charges may apply, and it can be difficult to know at the outset how a matter will develop.

| Fee Model | Typical Range | Paid If Case Loses? | Common Use |
|---|---|---|---|
| Contingency | 33% to 40% of recovery | No | FINRA arbitration, individual lawsuits, class actions |
| Hourly | $300 to $600 per hour | Yes | Complex disputes, regulatory defense, ongoing matters |
| Flat fee | Varies by scope | Yes | Case evaluations, demand letters, limited engagements |

For most investors pursuing recovery of losses from churning, unauthorized trading, misrepresentation, suitability violations, or breach of fiduciary duty, a contingency arrangement tends to offer the best balance of risk and access to skilled representation.

Whatever model applies, ask for the fee agreement in writing before signing. It should spell out the percentage or rate, how case costs are handled, and what happens if the matter settles early or is dismissed.

## What Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com P.A. Charges: No Recovery, No Fee

Haselkorn & Thibaut, P.A. handles investor cases on a contingency basis: you pay nothing unless the firm recovers money for you. That single sentence answers the most common pricing question investors ask before they ever pick up the phone.

Under a **contingency fee** structure, attorney compensation is a percentage of the recovery. The firm's payment is tied directly to the outcome it secures, not to the hours it spends. If the case produces no recovery, the client owes no fee.

This approach stands apart from the **hourly rate** and **flat fee** models discussed earlier in this pricing guide. Those arrangements require payment regardless of outcome. A contingency fee shifts that risk to the firm and aligns both sides around the same goal: recovering the investor's losses.

The firm's FAQ notes that fee arrangements can include hourly, contingency, hybrid or alternative arrangements depending on the case. In most investor cases, however, there is no fee unless the firm recovers funds. That distinction matters because it reflects how the firm typically structures **victim representation** for securities fraud and investment scam matters.

### Free, Confidential Case Evaluation and No Upfront Payment

The firm offers a free, confidential case evaluation to assess whether you have a viable claim, with no upfront payment required to get started. There is no **retainer** and no deposit to open a file.

During the evaluation, the team reviews the documents that tell the story of your account. That typically includes:

- Account statements showing balances, transfers, and withdrawals
- Trade confirmations reflecting what was bought, sold, and when
- Other documents that help determine whether a case exists

The consultation itself is free and can be handled by phone, in person or virtually. That flexibility matters for investors who are older, out of state, or simply more comfortable discussing sensitive financial losses from home.

If the review points to a viable claim, the client still pays nothing to move forward. **Case expenses are advanced by the firm** and recouped only upon recovery. Those expenses can include **forensic accounting**, expert witness work, court filing fees, discovery expenses, deposition costs, and FINRA arbitration fees, all of which can add up quickly in securities fraud litigation.

In practical terms, this means an investor who was harmed by churning, unauthorized trading, misrepresentation, or a Ponzi scheme can pursue recovery of losses without funding the fight out of pocket. The financial risk of pursuing a claim sits with the firm, not the victim. That is the core of the no recovery, no fee promise, and it is why so many investors choose to have their situation reviewed before deciding anything at all.

## What Costs You May Still Face in a FINRA Arbitration Case

Even in a contingency fee arrangement, investors may be responsible for certain case expenses such as FINRA filing fees, expert witness costs, and discovery expenses. These are distinct from attorney compensation and exist regardless of how the lawyer structures the fee.

The key distinction is between **legal fees** and **case expenses**. Legal fees compensate the attorney for time and expertise. Case expenses are the hard costs required to move a claim through the FINRA arbitration process.

In most contingency arrangements, the law firm advances these costs on the client's behalf. The firm is then reimbursed from any settlement or award before the client receives their portion. This structure reduces the upfront financial burden on the investor.

However, not every firm handles expenses the same way. Some may ask clients to cover specific costs directly or reimburse them as they arise. That is why clarifying the expense policy during the initial consultation matters as much as understanding the **fee structure** itself.

The sections below break down the most common expenses you may encounter in a FINRA arbitration claim, with concrete figures where available.

### Filing Fees, Expert Witnesses, and Other Case Expenses

FINRA arbitration involves several potential expenses, including filing fees based on the claim amount, expert witness fees for testimony, and costs for discovery and depositions. Each category carries its own price range and purpose.

**FINRA filing fees** are set by the forum and scale with the size of the claim. A smaller claim might carry a fee near $50, while claims in the hundreds of thousands or millions can push the filing fee to $2,000 or more. These fees are paid to FINRA, not to the attorney.

**Expert witness fees** represent one of the larger potential costs. Securities industry experts, forensic accountants, and damages specialists often charge between $300 and $600 per hour. Complex cases involving **churning**, suitability disputes, or unauthorized trading may require multiple experts.

Other common expenses include:

- Deposition transcripts and court reporter fees
- Copying, printing, and document production costs
- Travel expenses for hearings or depositions
- Arbitrator compensation, which is separate from FINRA's administrative fees
- Filing and service fees for subpoenas

In contingency cases, the law firm usually advances these costs and deducts them from any recovery. This means the investor does not pay out of pocket during the case, but the final payout reflects the expense deduction.

Some firms may require clients to cover certain expenses directly, particularly in smaller claims where the cost-to-value ratio is less favorable. Clarity on this point upfront prevents disputes later.

Before signing any agreement, ask how expenses are tracked, whether you will receive periodic statements, and what happens if the case does not result in a recovery. A reputable firm will answer these questions directly and in writing.

## Why Contingency Pricing Matters for Investors Recovering Losses

Contingency pricing removes the financial risk of pursuing a claim, allowing investors to seek recovery without worrying about hourly bills or upfront costs. Instead of paying an **investment fraud lawyer** by the hour, the investor pays nothing unless the case produces a recovery. That single change in fee structure reshapes who can pursue a claim and how the case is handled.

Most victims of a **Ponzi scheme**, investment scam, or financial fraud have already lost money. Adding a large retainer on top of those losses is often impossible. Contingency pricing means the cost of legal fees is tied to the outcome, not to the calendar.

This model also aligns interests. The attorney only gets paid when the client does, so there is a shared goal: maximizing the **recovery of losses**. That alignment shapes case strategy from the first filing through settlement or award.

Under an hourly arrangement, every phone call, email, and filing adds to the bill. A client may hesitate to authorize a **deposition** or hire a forensic accounting expert because each step raises the tab. With a contingency fee, those decisions rest on whether they help the case, not on what they add to an invoice.

- **Access to justice:** Investors who cannot fund a retainer can still pursue meritorious claims.
- **Aligned incentives:** The lawyer's compensation rises only when the client recovers.
- **No downside risk:** If the claim fails, the client generally owes no attorney fee under the contingency terms.
- **Selective case intake:** Attorneys screen for merit because weak claims cost them time without payment.

Consider a simple comparison. An investor with a $100,000 loss might face tens of thousands in hourly fees to pursue **FINRA arbitration**, win or lose. Under a contingency fee, that same investor pays a percentage only if money comes back. The hourly path can cost more than the claim is worth; the contingency path keeps the claim viable.

Contingency pricing also encourages diligence. An attorney who invests time and advanced costs in **litigation costs**, court filing fees, discovery expenses, and expert witness work has strong reason to push the case toward a result. This structure tends to produce careful case selection and steady effort.

For victims of churning, unauthorized trading, misrepresentation, or breach of fiduciary duty, the practical effect is simple. They can pursue victim representation they might otherwise avoid because of cost. That is why contingency pricing matters, and why investors should ask how fees and expenses are handled before signing anything.

## Trust Signals: Experience and Track Record at Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com P.A.

Haselkorn & Thibaut, P.A. brings 95+ years of combined securities law experience, with partners who are former Wall Street defense attorneys and have been recognized by major legal rating organizations. That background matters when you are weighing the cost of an investment fraud lawyer, because it shapes how efficiently a case can be pursued.

The firm was founded by two former Wall Street defense lawyers who now represent investors. **Jason S. Haselkorn** has over 30 years of experience and worked as a registered representative and in the legal department of a major broker-dealer, then served as General Counsel for a regional broker-dealer and SEC-registered investment advisory firm. **Matthew N. Thibaut** has over 25 years of experience in securities litigation and arbitration, focusing on elder financial abuse and investment fraud.

That defense-side history is not just a resume line. Having defended large financial institutions before switching to victim representation gives both partners direct insight into how broker-dealers, advisory firms, and their counsel build and defend claims. For a client, that knowledge can translate into fewer wasted hours during discovery, tighter case strategy, and less exposure to the litigation costs that often erode an investor's recovery.

Experience also affects how a fee structure is likely to play out. A firm that understands the opposing side's playbook may resolve matters faster or position a FINRA arbitration more effectively, which can reduce the billable time and expenses that pile up in a contingency or hybrid arrangement. When you evaluate any pricing guide, the track record behind the fee matters as much as the percentage itself.

### Awards, Recognition, and Reported Results

Both partners hold a Martindale-Hubbell AV Preeminent rating, the highest peer-reviewed distinction, and have been named to Super Lawyers and Florida Trend Legal Elite. Martindale-Hubbell's AV Preeminent status reflects the **top 2% of peer-reviewed attorneys**, and Matthew Thibaut carries a Super Lawyers designation in Securities.

Additional recognition reinforces the firm's standing in the legal community:

- **Martindale-Hubbell AV Preeminent** rating, held by both partners
- **Super Lawyers** designation for Matthew Thibaut in Securities
- **Florida Trend Legal Elite** recognition for both partners
- Employment Law Award for Matthew Thibaut from the Legal Aid Society of Palm Beach County
- **57+ five-star client reviews** with a 5.0-star average
- Partners quoted in Forbes, the Palm Beach Post, and the Palm Beach Daily News

Reported case results give a clearer picture of what that experience produces. One FINRA arbitration panel issued a **$1.28 million award against Fidelity** for investors with structured note losses. In another matter, after taking over a case from another lawyer following a failed mediation against a large Wall Street firm, the recovery was more than five times the original mediation offer.

Other reported outcomes include a charitable family trust that was defrauded of nearly 90% of its assets by a trusted advisor and recovered several million dollars, and a family that invested nearly its entire inheritance in a fake municipal bond fund and obtained a multimillion-dollar recovery from a Ponzi scheme. Results vary by case, but the pattern shows a firm willing to take on complex securities fraud matters and pursue them through arbitration.

Client feedback echoes the same themes. One investor noted that Matt Thibaut made a NorthStar Healthcare Income loss "easy to understand" and handled the paperwork and arbitration smoothly. Another described him as well-versed in financial law and the strategies lawyers use, and credited his preparation with helping them feel comfortable testifying. For anyone comparing legal fees, that combination of peer recognition, reported recoveries, and client satisfaction is a meaningful trust signal.

## Who Should Contact Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com P.A. About a Claim

Investors who have suffered losses due to broker misconduct, unsuitable recommendations, advisor fraud, or fraudulent schemes should contact Haselkorn & Thibaut, P.A. for a free case evaluation. The firm operates as InvestmentFraudLawyers.com and represents investors nationwide in securities arbitration and investment litigation.

Not every loss is recoverable, and that distinction matters when you are weighing the cost of pursuing a claim. A market downturn is not misconduct. But when a **breach of fiduciary duty** or an act of negligence caused the loss, the investor may have a path to recovery of losses.

If any of the following describe your situation, a free, confidential evaluation can clarify whether you have a claim and what pursuing it would involve.

- Churning and excessive trading that generated commissions rather than returns
- Unauthorized trading in accounts you did not approve
- Unsuitable investments, including overconcentration in a single position or sector
- Misrepresentation and omission of material facts about an investment
- Investment fraud and securities fraud, including Ponzi schemes
- Financial advisor fraud or a brokerage firm's failure to supervise its registered representatives
- Elder financial abuse, including exploitation of retirees and their savings

Losses tied to specific products are also a common reason investors reach out. These include stocks and equities, bonds, mutual funds, hedge funds, managed money, alternative investments, private placements, structured products and structured notes, non-traded REITs, DSTs, and variable annuities.

Current investor investigations listed by the firm include brokerage firm losses, structured notes, non-traded REITs, DST investor losses, GWG Holdings (L Bonds), Northstar Healthcare Income, Easterly ROCMuni, National Healthcare Properties (NHP) IPO, Ornstein-Schuler conservation easements, and Bluerock Private Real Estate Fund (BPRE).

The firm serves a wide range of claimants, not just individual account holders. Retirees living on fixed income, families managing a shared portfolio, and trustees or executors overseeing trusts and estates can all be harmed by the same types of misconduct. When a trustee or estate representative discovers losses after the fact, the claim belongs to the trust or estate, and the same evaluation process applies.

Cases are handled nationwide through FINRA arbitration, the most common forum for investor disputes, as well as AAA and JAMS arbitration and state and federal court litigation. The forum matters for both strategy and cost, since arbitration fees and court filing fees differ, and a lawyer can explain which venue fits your circumstances.

Timing deserves real attention. Securities claims are generally subject to eligibility rules and time limits, and delay can quietly eliminate an otherwise strong case. Documents also tend to disappear from memory and from files as months pass, which makes an early review more useful than a late one.

There is no cost to find out where you stand. A free, confidential evaluation gives you a clear read on whether misconduct caused your loss, which forum would hear the claim, and how a contingency fee arrangement would work if the firm takes the case. That conversation costs nothing and carries no obligation.

## Final Verdict: What an Investment Fraud Lawyer Should Cost You

An investment fraud lawyer should cost you nothing upfront, and in the best-case scenario, you pay only a percentage of what you recover. That is the standard investors should look for when comparing **fee structures** in this area of law. Hourly rates, flat fees, and large retainers all shift financial risk onto the victim, often before a single document is reviewed.

A contingency fee arrangement flips that equation. The attorney advances the cost of building the case and gets paid only if money is recovered, typically as an agreed percentage of the recovery of losses. For someone already harmed by a Ponzi scheme, investment scam, or financial fraud, this structure removes the barrier that stops many victims from pursuing a claim at all.

Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com, follows this model. The firm operates on a **no recovery, no fee** basis and offers a free case evaluation. Investors can have their situation reviewed, including matters involving breach of fiduciary duty, negligence, misrepresentation, suitability, churning, or unauthorized trading, without paying anything to start.

That combination matters for a simple reason. Legal fees should never be the reason a defrauded investor stays silent. When the attorney's compensation is tied to the outcome, the incentives line up: the firm does the work, advances the case costs, and shares in the result only when the client does.

Readers who want a clear answer on their own situation can reach the firm directly:

- National toll-free: 1-888-885-7162
- Florida (Main Office): 790 Juno Ocean Walk, Suite 501-C, Juno Beach, FL 33408. Phone: (561) 556-2203
- New York: Park Avenue Center, 125 Park Avenue, 25th Floor, New York, NY 10017. Phone: (332) 286-4055
- Arizona: Camelback Commons, 4742 North 24th Street, Suite 300, Phoenix, AZ 85016. Phone: (623) 244-6902
- Texas: 5100 Westheimer Road, Suite 200, Houston, TX 77056. Phone: (832) 558-7436
- North Carolina: 1903 North Harrison Avenue, Suite 200, Cary, NC 27513. Phone: (984) 422-3645

A free case review form is also available through the firm's contact page. The bottom line for any investor weighing their options: the right pricing guide ends with a fee structure that costs nothing to begin and ties payment to recovery. That is exactly how Haselkorn & Thibaut, P.A. handles investment fraud matters.

## Frequently Asked Questions

### How much does an investment fraud lawyer cost at Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com P.A.?

For investor cases, Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com, generally handles matters on a contingency basis, meaning the fee is a percentage of the recovery and you pay nothing unless money is recovered. No payment is required to start your case. Because every situation is different, the firm can explain exactly how this applies to your claim during a free consultation.

### Do I have to pay anything upfront to hire InvestmentFraudLawyers.com?

No. Under the firm's no recovery, no fee approach, no payment is required to start, and the client pays nothing unless money is recovered. That means there are no upfront costs to have your potential claim reviewed and pursued. You can confirm the specifics of your case by calling the firm's national toll-free line at 1-888-885-7162.

### How does a contingency fee actually work in a securities arbitration case?

With a contingency fee, the attorney's fee is taken as a percentage of whatever is recovered, rather than billed by the hour as you go. If there is no recovery, you owe no attorney's fee under this arrangement. Haselkorn & Thibaut, P.A. can walk you through how the percentage and any case costs would apply to your particular matter before you decide to move forward.

### Why do some investment fraud lawyers charge hourly or flat fees instead of contingency fees?

Firms structure their pricing differently, and some may charge hourly rates, flat fees, or a combination depending on the type of matter and the client. Because pricing practices vary and are not publicly standardized, it's best to ask any firm directly how it bills and what you would owe if the case is unsuccessful. Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com, uses a contingency model for investor cases so clients generally pay nothing unless money is recovered.

### Are there other costs beyond the attorney's fee, such as filing fees?

Securities arbitration and litigation can involve costs like filing fees and other case expenses, and how those are handled can vary by firm and by agreement. Haselkorn & Thibaut, P.A. reviews the fee terms with you before you commit, so you understand your obligations. Ask the firm to explain any potential costs specific to your claim during your free consultation.

### Is the initial consultation really free, and who will I speak with?

Yes, Haselkorn & Thibaut, P.A., operating as InvestmentFraudLawyers.com, offers a free consultation to review your situation. The firm is a two-partner boutique practice, and partners Jason S. Haselkorn and Matthew N. Thibaut are personally involved in every case, so clients work directly with them rather than with junior associates or case managers. You can reach the firm nationwide at 1-888-885-7162.