When you go to a professional or financial institution for financial advice, you expect them to provide competent advice based on what is in your best interests, not theirs.
Because financial products are often complex, there is a duty on those advising on investments, loans and financial matters to make clear any issues which might not be apparent to the customer or client. Getting bad financial advice can lead to catastrophic results, whether the loss is due to financial negligence, financial mis-selling or financial malpractice.
If you have lost out through financial negligence or malpractice, you may not even be aware. Many people have assumed the return they had on their investment was the natural outcome of markets, rather than poor advice or overcharging on commission by advisers. Unfortunately, as so much of the financial advice industry is commission based, it’s all too easy for financial advisers to recommend products which attracted high commission rather than necessarily being in the client’s best interests. Thus clients may be sold a whole range of unsuitable products.
If you think you may have been taken for a ride by the financial services industry or might be the victim of financial negligence then contact us for a free case assessment. Our expert team can help right any wrong and obtain redress for you. We can generally accept suitable cases on a no-win no-fee basis.
Areas of financial negligence and malpractice
Finance is a highly specialised industry, and there are several different professionals that can cause financial losses and damage through negligence or mis-selling. These include but are not limited to:
Accountants – Failing to draw up accounts correctly, giving incorrect advice e.g. tax advice, over or undervaluing company assets and other related areas.
Financial Advisers –Providing poor advice regarding any areas of a person’s finances including mortgages, investments, pensions and SERPS.
Banks - Where you were unfairly sold financial products, such as interest rate swaps. These complex financial products were often sold where a small to medium sized company took out a business loan and the bank required the business to enter into an interest rate hedging instrument (interest rate swap) as a condition of getting the loan. It has been estimated that around 40,000 businesses were mis-sold these products when the banks knew full well they were unsuitable for the client. Banks sold a whole raft of unsuitable products over the last few years with staff bonuses based on commission or targets rather than customer satisfaction.
Financial Malpractice Redress
Being the victim of financial negligence can cause significant financial loss to someone who has placed their trust in a financial professional. Sometimes, entire livelihoods and personal savings can be affected through deliberate or unintentionally bad advice or financial practice, causing serious stress and disruption.
Our experienced solicitors specialise in providing an understanding and transparent service to help you claim financial negligence compensation. We will work closely with you every step of the way and do everything we can to take the stress away from pursuing redress, handling all possible communication and paperwork on your behalf.
In many cases, we work on a no win no fee basis – call us now on 0292 0507 507 or click here to email us for a no obligation assessment of your claim.
