Can a DUI Conviction Affect My Role in the Financial Community?

By Michael Adams

You already know that a conviction for driving under the influence can have a profound effect on your life. What you may not realize is that it could have an effect on how you function in the financial community as an investor or as an advisor or broker. Depending on where the event took place and what provincial laws apply as well as national laws, you may find that someone like Jeff Mass, Toronto DUI lawyer would want to go over the types of adjustments you would need to make. Here are a few examples to consider.

Using Assets to Settle Judgments

If other people were injured as the result of your actions, there’s the potential for facing a number of lawsuits. Not all of your investments would be protected from those suits. In fact, it’s possible that quite a few of them would need to be sold to settle any judgments that the courts eventually award to the plaintiffs. You may or may not be able to eventually replace those assets and get your portfolio back to the same level of worth.

The Impact on Your Status as a Financial Advisor

What sort of standards allow you to function as a financial advisor? Those can vary from firm to firm. If you are convicted, that could place your ability to provide financial advice in jeopardy. Should that come to pass, how would you go about earning a living?

While your skill set may translate well into other settings, keep in mind that your DUI conviction will remain on your record for some time. There will be potential employers who will see that as a barrier to providing you with a position that includes access to proprietary data. In short, the conviction could negatively impact your ability to earn a living now and in the years to come.

Participation in Some Types of Investment Opportunities

Did you know that there is more to becoming part of an investment opportunity than having the money on hand to participate? When it comes to groups of angel investors, participating in trusts, and other forms of investments, you may no longer be in a position to engage in those particular strategies. While there are still many other types of investments you can secure, your conviction could conceivably mean some opportunities will be off limits for a long time.

The Conviction and Your Reputation in the Financial Community

Confidence is a major asset when it comes to functioning as a broker or advisor. Your DUI conviction could undermine the confidence that current and future clients have in your ability to accurately project market movements and provide advice about different investment opportunities. That hesitation will linger for some time, seriously hampering your ability to further a career that you love.

The bottom line is that a DUI conviction can affect you in more ways than losing driving privileges and possibly paying higher insurance premiums. Before you go out and have a little too much, think about how your life could change. That may be all the incentive that you need to do most of your drinking in the privacy of your home.