You may have decided that you need an expert witness for litigation support in an upcoming court case. But how do you find the right expert for your particular case? It is important to first know that not all experts are the same, and it is also good to know the differences between experts. Generally, there are 3 main types of expert witnesses that are most often used in court.
The first type of expert witnesses is the academics. Academics can be anyone with experience and expertise in the workings of a particular industry or specific methodological approach. This can be someone with a well of knowledge in statistical analysis or valuation, or someone who has studied extensively the economics of particular industries.
Along with academics, come the practitioners. Practitioners are people with years of experience in a particular industry. One example of an excellent practitioner to be used as a financial expert witness would be a veteran loan officer to offer reviews of loan documentation and offer facts on lender liability. Comparable to this would be the need of someone to testify about standard auditing practices, in which an experienced auditor would be used to discuss common operations of auditing practices.
Another branch of experts to be used in courts would be those working at expert consulting firms. There are people devoted to providing expert testimony in their specific areas of expertise. Whether it is technical, statistical, or focused on a particular industry or industries.
But how do you know who to choose? It all depends on your case. If you need a financial expert witness for banking or financial cases, then you will want to choose someone with a great deal of experience in that particular industry. Litigation teams often come up with a number of choices for expert witnesses. Often attorneys have their own networks to consider. Either people they have worked with previously or someone they know personally. Trusted colleagues can even be considered if they have the relevant experience needed for the case. Clients should also consider their own networks as it is great to have a selection of experts to choose from.
For financial and banking cases, you will want to choose the best financial expert witness you can find. Choose someone with great credentials; leading academics and experience in both finance and banking as well as the experience of offering litigation support in major court cases. Michael F. Richards has been working as a financial expert witness and litigation support specialist since 2009. His banking career began in 1975 and before becoming a consultant he has founded and operated banks in Montana. If you need a financial expert witness for your case, he is a great candidate for the job. Contact him about his services today at (406-581-8797).