Claims for wrong financial advice
If you want to look after your hard-earned money then professional financial planning is an absolute must. You may need advice on where to invest your savings, how to plan for your retirement or opportunities of reaping a better return on your assets. While some people go to their accountant for this advice, others use the specialist services of an independent financial planner (IFA). In most instances, that advice works out well, but occasionally it doesn’t. That’s when consideration needs to be given to whether your loss is attributable to the inevitable fluctuations of the market or wrong financial advice.
Examples of wrong financial advice include:
- Misunderstanding the risk profiles, resulting in the money of a cautious investor being put into high risk investments;
- Encouraging people to enter into risky investment schemes without the relevant warnings or explaining the implications;
- Suggesting a tax avoidance scheme which HMRC subsequently close down;
- Promoting inappropriate investment schemes without checking their provenance or performance history;
- Failure to ensure that the investor can actually afford the investment; and
- Recommending unsuitable pensions and Self Invested Personal Pensions (SIPPS).
Whatever form the wrong financial advice takes and whatever loss it leads to, if the IFA failed to advise you to a suitable, professional standard, then they could be negligent and liable to pay you compensation.
We specialise in financial negligence. So, if you feel that you have been let down by your your IFA, then call us and we will be happy to discuss your claim with you. We can also look at funding options, including the availability of a no-win, no-fee. Do not delay in calling though: negligence claims do have strict time limits and they can quickly pass.
To discuss such a claim for compensation for wrong financial advice on a free, no-obligation basis, please call Emma Slade on 0808 139 1595 or email [email protected] . We are here to help.