Negligent Financial Advisors : Professional Negligence Solicitors



Our professional negligence solicitors deal with compensation claims arising as a result of negligent advice given by an independent financial adviser (IFA) or a financial consultant. The fact that an investment looses value does not of itself indicate negligent advice provided that the IFA or financial consultant has followed the financial regulators code of practice. In regards to establishing professional negligence much depends on whether or not the financial adviser has obtained sufficient personal details from the potential investor to establish the correct product for that particular persons purposes.

SOLICITORS HELPLINE 0845 180 1888

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Reasonable Competance

In order to establish that a professional financial adviser or consultant has been negligent; the ordinary rules of negligence apply. In general terms the standard of the advice tendered by an IFA or a financial consultant should be that of a reasonably competent and diligent professional adviser. A responsible financial advisor should have made detailed enquiries about your current and prospective personal circumstances and should have considered your attitude to risk which would have entailed the financial adviser explaining in detail about the proposed investment. Financial consultants should also explain that investments can go down as well as up, dependent on the financial climate of the stock market. You should also have been given product particulars including a document detailing fees and charges and their effect over the longer term.

SOLICITORS HELPLINE 0845 180 1888

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Legal Advice

If you would like free advice with no further obligation, from a specialist solicitor just use the helpline, email our offices or use the contact form. We offer no win no fee compensation claims and pay compensation in full with no deductions. You do not have to fund or finance the legal action which is totally risk free – win or lose there is no charge.

SOLICITORS HELPLINE 0845 180 1888

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Compensation Claim

There are numerous grounds which can result in a successful professional negligence compensation claim against an independent financial adviser (IFA) or a financial consultant including :-

  1. Was The Financial Product Suitable For You?

    2. Your independent financial adviser (IFA) or financial consultant should have made sure that this investment was suitable for you after consideration of your financial circumstances at the time and your attitude to risk. Listed below are some of the reasons why the investment may not have been suitable for you which may indicate professional negligence :-

    • The IFA may have said the investment was guaranteed to increase in value and make a good return.
    • The IFA or financial consultant did not discuss other more suitable options for investment with you.
    • The advisor didn't explain how your money would be invested and explain the risks involved.
    • The advisor didn't explain that the particular investment would give a poor early return.
    • The advisor didn't check you were comfortable with the risks of stock market investment.
    • In appropriate cases the adviser should have explained that performance depends on the stock market.
    • Misleading information may have been given in order to persuade you to invest.

  2. Failure To Follow The Regulators Code Of Practice

    These are some of the reasons why the investment may not have followed the financial regulators rules :-

    • The adviser didn't explain any fees and charges and how they affect the return you get on your investment.
    • The independent financial adviser did not advise you of a contrary or conflicting interest.
    • The IFA or financial consultant took negligent advice from another person on behalf of his client
    • Failure to provide a document detailing fees and charges.
    • The adviser didn't complete a fact-find.
    • Failure to consider the effect of the investors retirement.
    • Churning insurance policies to generate commission

    SOLICITORS HELPLINE 0845 180 1888

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    No Win No Fee

    In order to establish liability against a financial adviser we are able to call upon the services of an independent network of qualified actuaries, insurance experts, stock brokers, financial consultants and academics who work together as a specialist team when necessary to assist in settling claims against independent financial advisers, life companies, banks, solicitors and brokers. We deal with professional negligence compensation claims against independent financial advisers and financial consultants on a no win no fee basis and if the complaint is unsuccessful we will not make any charge to you. Our professional negligence compensation claims are completely risk free and you will not have to pay for any expenses during the course of the claim. If you would like free advice, without any further obligation, just use the helpline, email our offices or complete the contact form.

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    SOLICITORS HELPLINE 0845 180 1888




    USEFUL CONTACT NUMBERS


      The Financial Services Authority,
      25 The North Colonnade,
      Canary Wharf,
      London
      E14 5HS
      United Kingdom
      Tel: 020 7066 1000

      The Financial Services Authority Consumer Helpline Tel: 0845 606 1234

      Complaints against The Financial Services Authority Tel: 020 7066 9870


      Financial Ombudsman Service
      South Quay Plaza
      183 Marsh Wall
      London
      E14 9SR
      United Kingdom
      Tel: 020 7964 1000
      Fax:020 7964 1001


      Financial Services Compensation Scheme
      7th floor Lloyds Chambers
      Portsoken Street
      London
      E1 8BN
      United Kingdom
      Tel: 020 7892 7300
      Fax: 020 7892 7301

    SOLICITORS HELPLINE 0845 180 1888




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