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However, sometimes things can go wrong. As our professional negligence solicitors have seen, negligent practices by financial advisors can have a massive financial impact on their clients. In these situations, professional negligence claims against financial advisors can be one way to obtain redress for the losses that you might have suffered.
Managing your financial affairs is the main reason that you are likely to have for using a financial advisor. The advice sought by people who are using a financial advisor can cover a range of matters, including savings, providing for retirement and later life, advice on taxation and the financial implications of making a will. Financial advisors are relied upon by many people to provide them with advice and assistance when dealing with potentially complex financial issues. The vast majority of financial advisors and the vast majority of the advice they give is of a very high standard, however from time to time the advice given is poor or in some cases negligent. In these situations claims against financial advisors might be one option available to you for recovering compensation for any financial losses.
For situations where a financial advisor’s negligence has cost you financially, expert legal advice from one of the professional negligence solicitors here at Canter Levin & Berg could help you to recover some or all of your financial losses. Our solicitors can help you when it comes to making claims against financial advisors. With over 30 years experience dealing with professional negligence law you can be sure that you will be getting the highest standards of legal advice during your professional negligence claim against a financial advisor.
Suing a financial advisor
Financial advisors provide an important service to many people to help them to plan and manage their finances so that they are in a good financial position. Dealing with complex issues such as tax and investments without the benefit of expert financial advice can be a risky business, so when you enlist the services of a financial advisor, you are relying on their professional expertise to help you to minimize any risk to your finances. That being said, not all financial advisors operate at the high standards their clients expect of them and as our solicitors know, there are occasions when things can go badly wrong. This is when someone might consider suing a financial advisor.
When suing a financial advisor for professional negligence compensation it is important to establish that the financial advisor has been negligent in the advice they have given and the service they have provided. Providing an inadequate service, not a negligent one, is not usually sufficient grounds for suing a financial advisor although there is often an overlap between negligence and inadequacy. Generally speaking, if a mistake or omission by a financial advisor has caused you a financial loss and they have not reimbursed you for this loss then it is probably worthwhile speaking to a professional negligence solicitor for advice about suing a financial advisor.
Bad financial advice
Bad financial advice from a financial advisor can have a huge impact on your finances and your life. Many people rely on the advice from a financial advisor and the recommendations they make about taxation and investment opportunities to put money away in the expectation that this money will provide them with a sustainable income during their retirement or in the event that they are unable to work. Bad financial advice can leave you without this income and might put you in a position where you are unable to afford to live the standard of life you had hoped you would have been able to.
If you have suffered a financial loss as a result of a bad financial advice given to you by a negligent financial advisor then please contact us now for a free assessment of your case. Our team of specialist professional negligence solicitors are available now to discuss your situation and the legal options available to you to make a claim for professional negligence against your financial advisor. For more information about what to do if you’ve received bad financial advice from a negligent financial advisor you can call Sean Carty, one of our professional negligence solicitors, on 0151 239 1138 or you can complete the free online enquiry form and we will be in touch to discuss your case.