Do I have to sue my broker, or can I sue just the firm?

No, in many cases, you do not have to sue your broker and you can simply sue the firm the broker works for. As long as the broker was acting within the scope of employment (like recommending stocks for you to buy), the firm will be liable for the acts of its brokers. Many times, investors would prefer not to sue their broker, for personal or other reasons. Additionally, it is often strategically preferable not to include the broker in the arbitration.  We explore all of these strategic decisions with each client prior to initiating our complaint or lawsuit.