Negligence Claims Against Financial Advisers

Negligence Claims Against Financial Advisers

We are specialists in bringing claims against professionals and are well versed with the procedure and rules in bringing such claims with a view to obtaining the optimal financial settlement for our clients. In particular, we specialise in mis-sold complex financial derivative products and (unlike other law firms without knowledge on the specialist area of financial mis-selling) are perfectly placed to advise you on your claim at the outset of our instructions.  

Claims against financial advisers have been on the increase in recent years and we have seen cases where an adviser provides (bad) financial advice in an area where they have no expertise; where a financial adviser/accountant fails to explain and/ or warn their clients on the fiscal implications of entering into particular financial products; and cases where an adviser fails to adequately assess the financial situation of their client to provide correct advise on suitable products for them personally. If you have been given bad advice or have a complaint about a Financial advisers it is important that you take independent legal advice to seek compensation for your loss before the time limits expire (usually six years).

Professional Negligence Claims Against Financial Advisers

Professional negligence occurs where a professional fails to perform his responsibilities to the required standard. A claim brought by the professional’s client may be based on one or more of the following:

  • Breach of a contractual term (express or implied).
  • Breach of duty of care owed in the tort of negligence.
  • Breach of fiduciary duty.
  • Breach of statutory duty.

Where a duty is owed in contract or tort, you must establish that there has been a breach of that duty. You must show that the professional did not comply with the requisite standard owed. Broadly speaking, negligence is established if the professional has made an error which no reasonable member of his profession, operating in similar circumstances, would have made. Where such errors cause a financial loss, claims can be pursued against the relevant financial adviser.

Professional Negligence: The Basic Requirements

The tort of negligence has three basic requirements. All of these must be evidentially proved on a balance of probabilities (ie that they are more likely than not):

  1. Duty of care – The defendant owed the claimant a duty not to cause the type of harm suffered.
  2. Breach of duty – The defendant breached the duty owed.
  3. Causation – This has two elements, both of which must be proved ie (a) factual causation in that the claimant must prove, but for the defendant’s negligence, they would not have suffered loss and (b) legal causation or remoteness in that the defendant’s negligence was the legal cause of loss.

Examples of Financial Adviser Professional Negligence Cases

The following are commonplace examples of potential claims:

  • Failure to adequately assess a client’s financial situation to correctly advise on suitable financial products.
  • Providing bad/poor/incorrect advice on entering into a financial product and/or investment eg SIPPs.
  • Failure to advise on the risks of an investment/product, resulting in a financial loss.
  • Wrongly assessing a client’s attitude towards risk when recommending a (risky) financial product to invest in such as CFDs, crypto-currencies, FX derivatives, LIBOR-linked products etc.
  • Mis-selling financial products.
  • Failing to follow instructions provided by a client.

We have a team of Specialist Professional Negligence Solicitors and Barristers that are experienced in recovering damages for financial loss suffered after a financial adviser has provided sub-standard legal advice or legal conduct. We can often take on such claims on a no win no fee basis once we have assessed and advised you on the merits of the proposed professional negligence action.

City of London Specialist Professional Negligence Lawyers

We specialise in professional negligence claims and have years of experience in handling and resolving negligence claims. Our lawyers have market-leading experience of providing bespoke legal advice and bringing complex claims to settlement.  As a leading law firm regularly featured in the news and media and with a track record of success, you can be assured your negligence claim will proceed with precision and care.

We ensure that we provide the best possible outcome for our clients by conducting in depth investigation and research into the realistic prospects of a case before advising on the appropriate course of action in order to reduce time and expense. Where appropriate we encourage the use of alternative dispute resolution (such as mediation and without prejudice negotiation) and our negotiation skills are first-class. If required, we are extremely experienced and capable at navigating our clients through the litigation process.

Clients hire us because of our extensive experience in litigation disputes – when necessary, we know when to go to court and we know how to litigate.

Book an Initial Consultation with our Professional Negligence Lawyers

If you have a claim against a professional and want expert legal advice, get in touch so we can assess the legal merit of your case. We can often take on such claims on a no win no fee basis (such as a CFA or DBA) once we have discussed the claim with you and then assessed and advised you on the merits of the proposed professional negligence action.

Our expert legal team of leading Professional Negligence Solicitors & Barristers can provide urgent help, advice or representation to you. Just call our Professional Negligence Lawyers on 02071830529 or email us now.

Call us on ☎ 02071830529 or email us on for more information about the legal services we provide. Our team of London lawyers are based in Middle Temple adjacent to the Royal Courts of Justice. We are committed to providing professional and specialist legal advice.