Financial Advisors' negligence
Independent Financial Advisors (“IFAs”) are regulated by the Financial Conduct Authority (“FCA”) and will generally be instructed to advise on investments, retirement planning, insurance, mortgage protection, etc. Where an Independent Financial Advisor has been negligent that has caused you losses that would not otherwise have occurred, we can advise you on your legal rights and remedies in IFAs’ negligence matters and will assist you in seeking the compensation that you deserve.
Call us today on 01992 300845 for a free initial consultation.
Some areas where IFAs’ negligence cases arise are:
- Mis-selling claims/recommending unsuitable financial products
- Failing to check an individual’s financial circumstances to ensure products are appropriate
- Providing no advice or the incorrect advice on the risks associated with investment products
- Failing to declare that commission is being received on the product sold.
How much will it cost to bring a professional negligence claim?
Each case is different, but there are generally three ways to fund a professional negligence claim:
1) use existing insurance that may be held with your home, motor policy or with a trade union;
2) enter into a “No Win, No Fee” Agreement where our fees are met by the other side once the case is won, save for disbursements; or
3) pay privately on an hourly rate or fixed-cost basis.
DJS Law Solicitors will discuss all funding options with you and agree the approach that is most suitable for your circumstances.
How long do I have to make a claim?
Court proceedings will have to be issued within six years of the date of the cause of action (i.e. when you had sufficient knowledge of the material facts about the damage). In certain circumstances s.14A of the Limitation Act 1980 can be used to extend the limitation period for a further three years from the date of awareness that a loss had been suffered, up to a maximum period of 15 years from the date that the cause of action arose.