Insurance brokers are specialists whose job it is to serve their clients with suitable insurance products – sometimes for a fee or commission. As such, there is a duty-of-care which must be upheld. Where failures in this duty of care constitute negligence and the client suffers financial loss as a result, it may be possible to claim compensation. Continue reading →

Over a near decade-long period up until 2008 many banks sold interest rate swap and hedging financial products to small and medium sized business, telling them that these products were in their interests and would protect them from the variability and fluctuations of the wider financial market. Continue reading →

During its infancy, when it was considered to be little more than a fad or the “dead” and virtual currency of the black market, it was hard to imagine that anyone would ever take the Bitcoin seriously. Yet, it is now widely-recognised, has been used to buy houses and other physical goods in the real world, and is seen by increasing numbers from the mainstream as a viable investment. Continue reading →

When someone seeks investment advice from a bank or other financial institution, they usually expect this information to benefit them. In many cases, those attempting to obtain this form of guidance have little knowledge of the subject area and, consequently, rely on financial advisers to keep their best interests at heart.

However, when bad investment advice results in financial loss, those adversely affected should seek legal advice from an experienced professional negligence solicitor.

In the majority of cases, financial advisers adhere to very high standards of care. However, previous research, published in 2013, has suggested that some companies may be frequently issuing inadequate investment information.

After conducting a series of mystery shops across several banking firms, the Financial Services Authority (FSA) revealed that 25% of those companies may be giving poor investment advice. Moreover, the organisation stated that, in 11% of cases, this information was “unsuitable”.

When looking at the FSA’s findings in more detail, the research also showed:

• The advice, in 13% of cases, failed to take the financial requirements or personal needs of the customer into account;
• In 15% of cases, this information did not consider the amount of risk which the client was prepared to make; and
• The consumer may not have been asked how long they wanted to hold the investment for in 6% of cases.

If seeking information from an independent financial adviser, the Investors Chronicle states individuals can take various precautions in order to minimise their chances of receiving poor quality advice, such as making sure the seller conducts a risk assessment, asking the professional plenty of relevant questions, and recognising that if the information appears ‘too good to be true’, then it probably is.

However, when a customer receives poor quality investment advice from a financial expert, then he or she may be able to make a professional negligence compensation claim if they were adversely affected by this information.

Professional negligence claims with Healys LLP

If you suffered financial loss after receiving poor quality investment information, you should seek legal advice from Healys LLP today.

Although this is a specialist area of law, our team of experienced and hard-working solicitors – based in London and Brighton – can determine if your claim is likely to succeed.

Please call us today for more information.

Healys professional negligence partners are committed to providing clear guidance and advice to those who believe that the negligence of a professional may have led to them suffering financial loss. Call our professional negligence lawyers in their London and Brighton offices today for more advice. Continue reading →

When we entrust our money to a bank, we are doing so because they provide a professional service and are there to keep our money safe. However, banks do sometimes make mistakes and, where a bank has provided a substandard or negligent service which has caused you to sustain financial loss, you may be able to claim compensation for the negligence of your bank. Continue reading →

In the 1990s there was an unprecedented boom in the number of UK nationals looking to by second homes, holiday homes, retirement or investment properties in foreign countries such as Spain, Cyprus, Malta, and France. While some anticipated rest and relaxation others looked forward to paradisal retirement or a steady stream of rental income. Continue reading →

When investing your hard-won earnings or savings it is vital that you do so wisely, seeking out advice from qualified and expert professionals that are regulated by the Financial Services Authority. However, when investment advice is negligent, it is vital that you know your legal rights and seek the support and representation of a specialist professional negligence lawyer. Continue reading →

Savings are what we rely on. They represent the tangible reward for all our hard work and prudence and they are also there as a way of planning for the future, providing for our families and offering a safety net in the event of misfortune or hardship. Continue reading →

An independent financial adviser (IFA) has strict professional obligations to a client. In the event that the IFA advises a client to remortgage and this advice turns out to be negligent or inappropriate and later results in financial loss, it may be possible to pursue a negligent remortgage advice claim. Continue reading →