What you need to Know about an Investment Expert Witness

There are different types of experts in the various fields that we interact with in our daily lives. Investment experts are known to understand the various dynamics that come together to enable one become an investor. An investment expert witness is one whose expertise allows them to provide testimonies in a court of law regarding various elements of investments. An investment expert witness can serve as a witness on behalf of a plaintiff or defendant in legal proceedings.

Against normal belief, investment expert witnesses are not helpful in court only. The knowledge and skills that persons who identify as investment expert witnesses possess allow them to give counsel on investment matters outside court. There are many factors that one should consider before going out to seek and hire an investment expert witness.  Some of the common elements that one should have at the back of their minds when seeking legal and financial counsel include;

  • Financial implications

The overall cost of hiring an investment expert witness should be within budget. The amount of money set aside for human resource must be reviewed to accommodate having an investment expert witness on board. It is essential for one to make this considerations early enough to ensure that all the necessary financial and legal aspects of an investment are in order to avoid failure of the venture.

  • Size of the investment

The amount of resources being injected in a particular project determines the need for an investment expert or the lack of one in a venture. The amount of money as well as human resources involved will give the investor an insight as to whether an investment expert should be sought or not.

  • Existing team

The team members already on board should act as a guide on whether an investment expert will be needed or not. If the team consists of financial experts and a legal team then the services of an investment expert witness may not be necessary. If the team is deficient on either the legal or financial aspects then an investment expert witness may be the right team member to bring on board as he or she will be able to advise on both aspects.

  • Duration of the investment

The time expected for an investment to run will help investors determine if they will require an investment expert on their team. Short time projects may require consultancy while long term ones may require an investment expert witness as part of it from the beginning to the end. The intensity of the tasks to be undertaken alongside the legal and financial implications must be considered thoroughly to ensure that the presence or absence of a financial expert witness does not negate the development of the venture.

It is important for one to note the various duties and responsibilities as well as the capabilities of a particular investment expert witness before hiring. To ensure that one is getting the best in the business referrals can be used to source for the expert. Track records must also be checked out as well as client testimonials and reviews.