How Long Does FINRA Arbitration Take From Start to Finish?

How long does FINRA arbitration take? Most cases wrap up in about a year to a year and a half. FINRA's own 2025 statistics put the average at about 13 months for all cases. Cases decided after a full hearing averaged about 16 months. Many cases settle sooner.

Weltz Law represents investors in FINRA arbitration when a broker or brokerage firm causes losses. FINRA is the Financial Industry Regulatory Authority, the body that oversees brokers and brokerage firms. Our FINRA arbitration attorneys handle every matter in house, inside the FINRA dispute resolution forum.

Waiting is hard when your savings are on the line. Knowing what each stage looks like can make the process feel less like a black box. This post walks through the timeline from the first filing to the final award.

How Long Does a Typical FINRA Arbitration Case Take?

According to FINRA, the average case in 2025 took about 13.4 months to close. Cases decided after a full evidentiary hearing averaged about 15.9 months. Smaller cases decided on written submissions alone averaged about 5 months. Each case moves at its own pace, depending on its facts and parties, so these are averages, not promises.

FINRA arbitration is a private process for resolving disputes between investors and brokerage firms. A panel of arbitrators hears the evidence and issues a decision called an award.

Most cases never reach that award. FINRA reports that only about one in five cases closed in 2025 was decided by arbitrators. The rest settled directly, settled in mediation, were withdrawn, or closed some other way.

That matters for timing. A case that settles can end months before a hearing would have happened.

For a closer look at what happens at each step, see our guide on what happens during FINRA arbitration step by step.

What Are the Stages of a FINRA Arbitration From Filing to Award?

A FINRA arbitration moves through a set series of stages. The investor files a Statement of Claim, the firm answers, the parties pick arbitrators, and the panel holds a prehearing conference. Then come discovery, possible mediation, the final hearing, and the award.

Here is the usual order, with rough timing for each stage. Actual timing varies from case to case.

1. Statement of Claim: the written document that starts the case. It lays out what happened and what the investor is asking for.
2. The firm's Answer: the brokerage firm and broker respond in writing, usually within about 45 days after they are served.
3. Arbitrator selection: FINRA sends lists of possible arbitrators. Each side ranks and strikes names, and FINRA appoints the panel. This often takes a couple of months.
4. Initial prehearing conference: a call with the panel to set the schedule, including discovery deadlines and hearing dates.
5. Discovery: both sides exchange documents, such as account statements, account forms, emails, and supervisory records. This stage often runs several months.
6. Motions and mediation: either side may raise disputes for the panel to decide. The parties may also try mediation at any point.
7. Final evidentiary hearing: each side presents witnesses and exhibits to the arbitrators. Hearings often last a few days.
8. The award: the panel issues a written decision, usually within weeks after the hearing ends.

The hearing date is usually set early, at the initial prehearing conference. From that point on, the case works backward from that date.

How Long Does a Simplified FINRA Arbitration Take for Smaller Claims?

Smaller claims often move much faster. FINRA handles many claims of $50,000 or less through a simplified process, where a single arbitrator decides the case on written submissions. FINRA's 2025 figures show these paper decisions averaged about 5 months, far faster than cases that go to a full hearing.

In a simplified case, there is usually no in-person hearing. The investor and the firm submit documents and written arguments instead. The arbitrator reviews the file and issues an award.

Investors in these cases can sometimes ask for a hearing. That choice can add time, but it also gives the investor a chance to be heard in person.

Speed is not the only factor. The right path depends on the size of the claim and how much the case turns on witness testimony.

What Can Make a FINRA Arbitration Case Take Longer?

Several things can stretch a FINRA arbitration past the average. Discovery fights, scheduling conflicts, many parties, complex products, and hearing postponements all add time. A firm that resists producing documents can slow a case down for months, even when the claim itself is simple.

Some delays are out of anyone's control. Others can be managed with good planning. These are the most common causes.

• Discovery disputes: one side refuses to hand over records, and the panel has to decide.
• Postponed hearings: a party or arbitrator asks to move the hearing date, which can push the case back months.
• Multiple respondents: claims against several firms or brokers mean more lawyers, more schedules, and more documents.
• Complex investments: cases about private placements, structured products, or options strategies often need outside analysis from a specialist witness.
• Arbitrator changes: if an arbitrator leaves the panel, a replacement must be chosen.
• Long hearings: a case with many witnesses may need more hearing days, which are harder to schedule.

A case can also move faster when both sides want it resolved. Early, organized document gathering helps a great deal.

Does Mediation Shorten a FINRA Arbitration Case?

It often can. Mediation is an optional meeting with a neutral person who helps both sides talk about settlement. FINRA reports that its mediations in 2025 took about four months on average, and most cases that went through mediation settled.

Mediation can happen before a hearing or alongside the arbitration. It does not stop the arbitration schedule unless both sides agree.

A settlement in mediation ends the case on terms both sides accept. No one can promise that a firm will settle, or on what terms. But when mediation works, it can shave many months off the timeline.

How Long Does It Take to Get Paid After a FINRA Arbitration Award?

If the panel awards money, the firm is generally expected to pay within 30 days of the award. Most member firms pay on time. A firm or broker who does not pay can face action from FINRA, including suspension from the industry.

Collecting from an individual broker can be harder than collecting from a firm. A broker who has left the industry, or a firm that has closed, may not pay.

That is one reason the choice of who to name in a claim matters. Brokerage firms have a duty to supervise their brokers, and a failure to supervise claim can bring the firm into the case.

Why Does the Six-Year Eligibility Window Matter Before a FINRA Arbitration Starts?

The clock that matters most may start before the case does. The FINRA eligibility rule sets a six-year window for filing many claims. Waiting too long can shut a claim out of FINRA arbitration entirely. That is true no matter how fast the case itself would move.

The window is often measured from the event that caused the harm, such as a trade or a recommendation. Other deadlines can apply too.

Investors often spend months deciding whether to act. That time counts. Our post on FINRA arbitration deadlines explains the timing rules in more detail.

What Can an Investor Do to Keep a FINRA Arbitration Moving?

Organized records are the best way to avoid delays. Investors who gather statements, account forms, trade confirmations, and correspondence early help the case move faster. Staying reachable and responding quickly to requests also keeps the hearing schedule on track and helps avoid postponements.

A few habits make a real difference over the life of a case.

• Gather records early: pull several years of statements and account forms before filing.
• Write a timeline: note key dates, calls, and what the broker said.
• Keep everything: save emails, texts, letters, and marketing materials.
• Respond quickly: answer questions and document requests from your attorneys without delay.
• Hold the hearing dates: once the panel sets hearing dates, plan around them.

Small steps like these help avoid postponements. Each postponement can add months.

How Do Our FINRA Arbitration Attorneys Manage the Timeline of a Case?

Our FINRA arbitration attorneys start by reviewing the records and checking the six-year window. Then the team prepares the Statement of Claim, handles arbitrator selection, and works through discovery with the firm. Throughout the case, the team keeps investors informed about what comes next and when.

Much of the work happens between the big dates. Document review, discovery requests, and hearing preparation all run in the background.

Some cases resolve in mediation. Others go to a final evidentiary hearing before the panel. Our investor recovery team handles every stage in house.

How Can an Investor Contact Weltz Law About Starting a FINRA Arbitration?

Reach out as soon as you suspect a broker caused your losses. The six-year window keeps running, and records get harder to find over time. Bring your statements, account forms, and notes to Weltz Law. Our FINRA arbitration attorneys will review what happened and explain possible next steps.

Attorney advertising. Prior results do not guarantee a similar outcome. This post is for general information only and is not legal advice. Reading it does not create an attorney-client relationship.