Financial Adviser & Financial Broker Negligence Claims
Have you lost money because of poor financial advice?
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Specialist Professional Negligence support
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Clear, straightforward advice
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Funding options available
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Has Poor Financial Advice Cost You?
When you trust a financial adviser or broker with your money, you should be able to expect professional, suitable and properly considered advice.
If you were given unsuitable financial advice and have suffered financial loss as a result, you may be entitled to compensation.
At Wealth Recovery Solicitors, we help individuals investigate and pursue claims involving negligent financial advice, including investment, pension and financial planning advice.
You do not need to know whether your adviser was legally negligent before contacting us. We can review what happened, explain whether you may have a claim and advise you on your options.
What Is Financial Adviser Negligence?
Financial adviser negligence occurs when an adviser or broker fails to provide the level of care and professional advice reasonably expected of them, and that failure causes you financial loss.
This can happen in many different ways. For example, your adviser may have recommended an investment that was too risky for you, failed to properly understand your financial circumstances, or advised you to transfer a pension without adequately considering the benefits you were giving up.
However, simply losing money on an investment does not automatically mean your adviser was negligent. Investments can fall in value and all investments carry some level of risk.
The important question is whether the advice was appropriate for you at the time it was given and whether poor advice caused you to suffer financial loss.
Types of Financial Advice Claims We Handle
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Unsuitable Investment Advice
Your adviser should consider your financial circumstances, objectives and attitude towards investment risk. Advice involving more risk than was appropriate, or an investment you did not understand, may give rise to a claim.
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Pension Transfer Negligence
A transfer from a final salary or defined benefit pension can mean giving up valuable benefits or guarantees. We can also investigate pension drawdown, annuities and other retirement advice.
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SIPP Negligence
Claims can arise where inappropriate investments were recommended within a Self-Invested Personal Pension, particularly where they were high-risk, illiquid, complex or unsuitable.
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High-Risk & Unregulated Investments
This can include property investment schemes, loan notes, overseas investments, collective investment schemes, unregulated products and alternative investments. The key question is whether the investment was appropriate and the risks understood.
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Poor Portfolio Management
An adviser may have failed to diversify investments, left you exposed to inappropriate risk, or failed to review suitability when your circumstances changed.
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Inadequate Risk Warnings
We can investigate where significant risks, restrictions, charges or potential losses were not properly explained before you invested.
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Excessive or Unnecessary Charges
Loss may include adviser fees, management charges, commissions or other costs arising from an unnecessarily expensive product or negligent advice.
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Financial Broker Negligence
We investigate claims where negligent advice, poor assessment of your requirements or unsuitable financial arrangements by a broker caused financial loss.
Why These Claims Matter: The Financial Impact of Poor Advice
The financial consequences of poor advice can extend well beyond the original investment. You could potentially have suffered:
• Loss of your original investment
• Loss of future investment growth
• A pension shortfall
• Loss of valuable pension benefits
• Unnecessary fees and charges
• Early exit or transfer penalties
• Additional tax or financial costs
• Losses caused by unsuitable financial arrangements
The amount of compensation will depend on the individual circumstances of your case. The purpose of a professional negligence claim is generally to compensate you for the loss caused by negligent advice, not simply to reimburse you because an investment performed badly.
Do You Have a Financial Adviser Negligence Claim?
You may have a potential claim if:
• You were advised to invest more money than was appropriate for you.
• You were placed into an investment that carried more risk than you understood or were prepared to accept.
• Your adviser did not properly consider your financial circumstances.
• Your adviser did not properly assess your attitude to risk.
• You were advised to transfer a pension without understanding what you were giving up.
• You were encouraged to invest in a high-risk or unregulated investment.
• Important investment risks were not properly explained.
• You were not told about significant charges or restrictions.
• Your adviser failed to review your investments when your circumstances changed.
• You believe the advice you received was fundamentally unsuitable.
• You suffered financial loss after relying on professional financial advice.
If any of these situations sounds familiar, it may be worth getting specialist legal advice.
Time Limits - Act Promptly
Time limits can be complicated, and you should not assume that you have plenty of time simply because you have only recently discovered a problem.
The limitation period for a court claim can depend on factors including when the negligent advice occurred, when your loss arose and when you became aware or should reasonably have become aware of the relevant problem.
If you think you may have a claim, contact us as soon as possible. Waiting could affect your ability to recover compensation.
Our Claims Process
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Step 1: Tell Us What Happened
Contact us and explain what happened in your own words. You do not need to use legal terminology or know exactly what went wrong.
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Step 2: We Review Your Circumstances
We consider the advice you received, your circumstances at the time and the financial products or investments involved.
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Step 3: We Investigate the Advice
We look at whether the advice appears to have met the standard expected of a reasonably competent financial professional.
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Step 4: We Assess Your Loss
We establish the financial consequences and consider what position you might have been in had appropriate advice been provided.
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Step 5: We Pursue Your Claim
Where appropriate, we deal with the adviser, their insurers or other relevant parties, seek to negotiate a fair settlement and advise you if alternative dispute resolution or court proceedings become necessary.
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Step 6: We Work Towards Recovery
Our objective is to recover the compensation you are legally entitled to and guide you through the process from beginning to end.
Head of Professional Negligence & Commercial Litigation
Your Specialist - Tony Hill
Tony Hill is Head of Professional Negligence & Commercial Litigation at Wealth Recovery Solicitors. His view is that wealth management negligence can cover a wide spectrum of damage and loss, making specialist legal input at the earliest possible opportunity important for claimants.
Clients can discuss the advice they received, the circumstances at the time and the financial consequences with the specialist team.
Why Clients Choose Wealth Recovery Solicitors
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Specialist Knowledge.
Financial advice claims can involve complicated legal and financial issues. Our team looks beyond the investment loss and examines the advice that led to it.
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Consumer-Focused Advice.
We explain your options in straightforward language so you understand what is happening with your claim and why.
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We Investigate the Full Picture.
We consider your circumstances, the advice you received, the investment involved and the financial consequences.
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We Deal With the Other Side.
Where appropriate, we handle correspondence and negotiations with the adviser, financial firm, insurers or other relevant parties.
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Funding Options.
Depending on the circumstances, we may be able to offer a Conditional Fee Agreement, commonly known as No Win, No Fee. Not every case will qualify, and the precise terms and potential costs will be explained before you decide whether to proceed.
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Clients Across England & Wales
You do not need to be based close to our offices to speak to our specialist team.
Frequently Asked Questions
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Can I claim against my financial adviser for bad advice?
Potentially. If your adviser owed you a duty of care, provided advice that fell below the required professional standard and that advice caused you financial loss, you may have grounds for a claim. Every case is different, so we recommend obtaining specialist advice.
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I lost money on an investment. Do I automatically have a claim?
No. Investment losses can occur even when advice was completely appropriate. The important issue is whether the advice was suitable for your circumstances and whether negligent advice caused or materially contributed to your loss.
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Can I claim if I was advised to transfer my pension?
Potentially. Pension transfers can involve giving up valuable benefits and guarantees. If the recommendation was unsuitable or the risks and consequences were not properly considered and explained, you may have a potential claim.
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Can I claim over an unregulated investment?
Possibly. An unregulated investment is not automatically evidence of negligence. However, an adviser should consider whether an investment is appropriate for you and whether the risks have been properly assessed and explained.
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I signed documents saying I understood the risks. Can I still claim?
Potentially. Signing a risk warning does not necessarily mean that the advice was suitable. We would consider the documents you signed alongside what you told your adviser, the advice you received, your circumstances and the risks that were actually explained to you.
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My adviser has rejected my complaint. What can I do?
A rejected complaint does not necessarily mean that you have no further options. Depending on the circumstances, you may be able to consider a legal claim. We can review the position and explain your options.
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My adviser has gone out of business. Can I still claim?
Possibly. Depending on the circumstances, the FSCS may provide a route to compensation where an authorised firm has failed and the relevant eligibility requirements are met.
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Do I have to go to court?
Not necessarily. Many disputes are resolved through negotiation or alternative dispute resolution. If court proceedings are required, we will explain what this means and discuss the options with you.
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How much could I claim?
There is no standard amount. The value of a claim depends on the financial loss caused by the negligent advice and the evidence available to establish that loss.
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How much will it cost?
This depends on the circumstances of your case. Where appropriate, we may be able to offer a No Win, No Fee arrangement. We will explain the available funding options and any potential costs before you decide whether to proceed.
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How long will my claim take?
There is no fixed timeframe. Some claims can be resolved relatively quickly, while more complicated claims involving expert evidence, substantial losses or court proceedings can take longer. We will give you a realistic indication once we understand your circumstances.
Important Information
Every case is different. Whether you have a claim, the value of any claim, the route available and the funding options will depend on the individual facts, evidence, eligibility requirements and applicable time limits. Contacting us does not require you to know whether your adviser was legally negligent.