Financial Advisor Negligence Lawyers in St Helens
Many people choose to use the services of a financial advisor due to the amount of complex financial schemes and investment opportunities on offer but many are falling victim to financial advisor negligence. Everyone wants to make safe and solid investments with their savings but unfortunately, this does not always turn out as planned due to financial advisor negligence.
Most clients of financial advisers will have little knowledge of matters relating to finance and investment and therefore place heavy reliance on their financial advisor to consider their financial situation. It is because of this that it is so important for a financial advisor to conduct themselves appropriately so that the client’s investments do not suffer as a result of financial advisor negligence.
Financial Advisor Negligence Can Lead to Financial Loss
Bad advice given as a result of financial advisor negligence could lead to mis-sold mortgages, mis-sold loans, equity release negligence, pension negligence, mis-sold life insurance, mis-sold payment protection insurance (PPI). In certain circumstances, the money that has been lost through bad financial advice can be reclaimed.
For more advice on mis-sold insurance plans please see our Insurance Broker Negligence page.
Different types of misconduct that could result in financial advisor negligence include:
- If they fail to disclose they would receive commission or payment as a result of their involvement in the financial recommendation or transaction;
- If they misrepresent the facts surrounding the investment;
- Failing to take full consideration of your individual circumstances;
- Failure to assess the client’s needs and financial situation;
- Failing to warn of the risks of the proposed investments;
- Financial adviser’s financial conflicting interests;
- Financial adviser taking negligent independent advice on behalf of their client.
To Make a Financial Advisor Negligence Claim Reliance Must Have Been Placed on The Advice Given
As with all professional negligence claims, you need to demonstrate that financial advisor negligence took place. Financial advisors have a legal duty to exercise reasonable skill and care and have a duty of care to you. If this is breached then they may be liable for you to make a financial advisor negligence claim against them to recover your losses.
In order to establish the liability for financial advisors negligence it is necessary to show that the client actually placed reliance on the advice given.
If you would like to find out more about Financial Advisor Negligence call our expert legal team on 01744 744400, fill out our contact form below or contact our key person: