Professional negligence by financial advisers can often be particularly damaging.
We are here to help repair that damage and restore your financial position.
Professional negligence claims against a financial adviser usually stem from their failure to exercise reasonable skill and care, with liability often resulting from a breach of contract.
Professional negligence claims against financial advisers are quite wide ranging and include:
- Failure to assess the client’s needs and financial situation
- Failing to ensure that the client can afford the investment
- Failure to properly warn of the risks of the proposed investments
- Negligent advice relating to unsuitable high-risk investment products and unregulated collective investment schemes (UCIS).
- Negligent advice relating to tax avoidance schemes; including (amongst others) Film Fund Schemes, SDLT schemes, Employee Benefit Trusts (EBT) and Employer Financed Retirement Benefit Schemes (EFRB or EFRBS).
- Financial adviser having a financial conflict of interest.
- Financial adviser taking independent advice on behalf of his client that is negligent
- Failure to advise properly in relation to Accelerated Payment Notices.
- Advising to invest in unsuitable pensions and self-invested personal pensions (SIPPS).
Our robust approach backed by legal and practical experience means that we help to achieve quick results in a cost-effective manner.
What is Professional Negligence?
Professional Negligence put simply is where a professional adviser provides advice which falls below the standard expected of that adviser and as a result, you suffer a financial loss.
We are happy to consider all cases where negligence has occurred and there has been a financial loss, and have a particular expertise in complex, high-value claims often where there are several claimants.
What is the process for bringing a Professional Negligence Claim?
The first thing our team will do is to meet with you in person or hold a conference call by telephone. Our aim is to understand in brief terms, what you say has happened, why you say there has been negligence by your adviser, what the loss is you have suffered and whether you may have a claim against your adviser.
At this stage, we will ask you to send us documents to evidence the negligence. For example, if the claim is against a firm of solicitors we will request documents which evidences the negligent act; such as incorrect or inaccurate advice or a solicitor’s failure to comply with a deadline which had a detrimental financial effect upon you.
Once we have received this documentation we will then advise you as to whether we think you have a claim.
Funding a Claim for Professional Negligence
Having represented clients in Professional Negligence claims for over 100 years, we have an array of funding options available. These include:
- Conditional Fee Agreements (No win, No Fee)
- Damages Based Agreements
- Third Party Funding
- Hybrid Conditional Fee Agreements (Part paid, part CFA)
- Traditional Funding
We will advise you which option is the most appropriate for you in the circumstances.