In this month’s Financial Advisor Magazine column, Principal Partner Joe Cordell gives a crash course for financial advisors taking the stand as a retained expert witness.
The Oct. 20 article, “Financial Advisors As Expert Witnesses — A Good Idea?,” introduces how financial advisors should prepare for a case when they are going to offer expert testimony, whether it be a divorce or criminal trial.
His tips include maintaining qualification as an expert in their respective field, remembering that they must educate everyone involved with the case on subjects that most are unfamiliar, becoming comfortable conveying the important aspects of testimony in a question-and-answer format, surviving cross-examination and more.
While the article targets financial advisors and how to give expert testimony, much of the advice can be utilized by anyone who must take the stand.
“Proper preparation will prevent you from having to slip in important information when you were not directly asked the appropriate question, which most likely will draw an objection from the opposing party. It can be very beneficial to give your attorney an outline breaking down the most important aspects of your testimony with a few sample questions.”