Mr. Schulz stands out among other securities experts. Because of his being totally engrossed in the securities markets and rules and regulations of the brokerage industry for the last 22 years, he brings an above average perception and knowledge to the process. His unique experience and background combine to make him an excellent expert.
Mr. Schulz is an arbitrator for the National Association of Securities Dealers (NASD) and the New York Stock Exchange (NYSE). He has attended two basic arbitrator training classes and one chairman training class. Mr. Schulz writes and is active in the area of arbitrator selection and utilization. Due to the large number of arbitrations that Mr. Schulz has been involved in, as early as 1989, he is in the unique position of having attended more arbitrations than the majority of attorneys who specialize in this area. Being both an arbitrator and having testified as an expert witness, Mr. Schulz is able to appreciate both sides of the equation.
Most of the time, when analyzing a portfolio, a set of detailed spreadsheets will be prepared. Again, these can be for potential litigation or for investment analysis. Arbitrators are used to spreadsheets being prepared from the investor’s brokerage monthly statements. Proper spreadsheets are comprehensive and at the same time easy to decipher by the arbitrators. Invest has designed some of the more advanced, comprehensive spreadsheets. Additionally, Invest will often contract out to subcontractors who are pure number crunchers, because it is a cost saving for the client.
The discovery process in securities arbitration is where either party attempts to obtain all of the key, important documents that they feel will assist in the prosecution or defense of the case. One of the first articles Mr. Schulz wrote, in conjunction with a securities attorney Tracy Pride Stoneman, was on the discovery process (see Securities Arbitration Commentator article dated November 1990). Ten years later, the process is still somewhat archaic, and the brokerage industry through either stonewalling or flat refusing is attempting to limit claimants' access to documents. Mr. Schulz can be a great asset in this area for two reasons. First, he is infinitely with the necessary documents having worked for brokerage firms for many years and still being in the investment business. Second, Mr. Schulz can be a great asset because of his continuous involvement in the discovery process which includes the drafting of discovery requests to his involvement in the preliminary hearing regarding those requests.
Mr. Schulz also spends a great deal of time in the area of education of investors and attempting to work with the regulators in improving the securities markets and environment for the investor. He has spoken and testified before numerous state and federal elected representatives. He participated in the Ruder Task Force
and often works with investigators on a state, federal and local level.
During his 10 years acting as a securities expert, Mr. Schulz has had occasion to work with most of the top securities attorneys in the country. Most of the securities expert witness work is referred to Mr. Schulz through attorneys. If you are reading this website and you do not have an attorney, and your need is a combination of investment advice and legal advice, Mr. Schulz is capable of referring you to a number of these top securities attorneys. It is important, if you are in the process of selecting an attorney, that you select an attorney who specializes in, not only securities, but the arbitration process. There are always exceptions to this rule, but generally speaking due to the uniqueness of arbitration, it is in your best interest to hire an attorney who specializes in this area. But if you have already hired an attorney and he is not a securities attorney, do not despair. A good expert can help an attorney who may be lacking experience.
Invest Securities Consulting works on an hourly basis in both its investment advisory work and its expert witness work. On some occasions, Invest contracts directly with the client and sometimes it contracts with the attorney for the client. If working for the attorney or for the client, Invest always attempts to keep costs to a minimum because Invest is well aware that even arbitration can be protracted and fairly costly. Due to the many years Invest has been conducting this work, the efficiencies are greater than at some firms where the years in business or caseload is not as large. Invest works with the client and/or the attorney in an attempt to budget various assignments and tasks and keeps the client abreast of all costs, so that a professional business relationship is maintained.
