LAWYER HELPLINE: ☎ 1800 633 090

We only deal with losses incurred as a result of negligent financial advice given by banks, financial institutions, advisors and wealth management companies.

Our wealth management professional negligence solicitors handle a variety of legal claims having to do with advice that was given by an independent financial advisor (IFA) who may also be known as a 'wealth manager' or 'financial consultant' or 'financial advisor' that may have been negligent in nature. It is important to understand that just because an investment goes down in value, does not necessarily mean that negligence has occurred. An allegation of professional negligence by a wealth management professional negligence solicitor can only be maintained if the wealth manager has not obtained the necessary information from the individual investor to determine the best possible investments or if there has been a violation of the Financial Regulators Code of Practice.

Reasonable Competence

To establish a case of negligence against a wealth manager, the basic rules of negligence are applied. This means that it is assumed that the level of advice given should be equal to that of any reasonably competent financial advisor. A competent wealth manager should ask questions to gain a firm understanding of the clients personal goals and current financial situations and also find out the client's tolerance level for risk. A professional wealth manager should also take the time to fully explain that investments can gain or lose money and that the financial markets can change quickly for a number of reasons. Clients should be given all investment documents, fee schedules and maintenance charges up front so there is complete clarity on all issues.

Legal Assistance

If you are interested in having a consultation at no cost and with no further obligation, with one of our wealth management professional negligence solicitors please contact us for more information. Simply complete the contact form, call the helpline or email our solicitors offices. All of our cases are handled on a no win no fee basis, with payment in full at the time the case settles. You will never have to worry about funding your claim in advance.

Compensation Claim Basics

There are a variety of reasons for which a compensation claim can be made against a negligent wealth manager or financial consultant. Some of these reasons include the following:

  • Were the recommendations made by the wealth manager right for your situation? The independent financial advisor or financial consultant should have taken ample time to make sure his or her recommendations were right for you and your precise situation, as well as your personal risk profile. Some reasons that the investment made on your behalf may not have been suitable include:-

    • A guarantee may have been given about a value or an expected rate of return;
    • No other options were suggested that may have been more appropriate;
    • No explanation of all of the risks or how your money would be handled;
    • No explanation that the investment would take a long time to yield a good return;
    • No explanation of the risk of the stock market to you in advance;
    • No explanation that the stock may be dependent upon the volatility of the market;
    • General misleading information you to persuade you to invest.

Regulators Code of Practice

The Regulators Code of Practice should always be followed by a wealth manager when making investments on the behalf of a client. That being said, there may be certain reasons why the investment did not follow the regulators rules such as:

  • No supply of a list of all applicable fees and expenses that may affect your total return;
  • No information regarding any conflicting or contrary interests;
  • The financial advisor took information from someone else that was negligent in nature;
  • No consideration given to the effect the investments would have on the client’s retirement;
  • The wealth manager worked in a manner so to receive extra commissions.

Professional Negligence Solicitors

Our team of wealth management professional negligence solicitors utilises the services of insurance experts, financial consultants, scholars, stock brokers and qualified actuaries to help build a strong case of negligence against banks, brokers, financial advisors, wealth managers and life insurance companies. We handle a variety of negligence claims and usually work on a no win no fee basis. If the claim is not settled successfully, there is no charge of any kind to you. You will never be asked to fund the claim in advance and you will not have to incur any legal expenses as your case progresses. If you would like further information on how we can help, with no further obligation required, please complete the contact form, email our offices, or call the helpline.

We only deal with losses incurred as a result of negligent financial advice given by banks, financial institutions, advisors and wealth management companies.

LAWYER HELPLINE: ☎ 1800 633 090

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