Negligent Financial Adviser – Professional Negligence Lawyers & Solicitors Advice

Professional negligence occurs when a professionally qualified person gives advice or carries out work that does not reach a reasonable standard, as a result of which the person receiving the benefit of that information sustains financial loss. One particular area of concern that has caused multi million dollar loses relates to negligent financial advisers and negligent financial planners who must be licensed by the Australian government before they can give financial advice. Financial advisers and planners includes :-

• accountants
• lawyers
• fund managers
• superannuation trustees
• promoters and managers of managed investment schemes

SOLICITORS HELPLINE 1800 455 886

Financial Services Guide

Financial advisers and planners are required by law to provide clients and potential clients with a financial services guide before they are entitled to give financial advice. The guide is expected to provide full disclosure of the means by which they get paid and their sources of remuneration in addition to any other connection they may have to any of the products they may recommend as investments, which may influence their decision to recommend any particular financial product. The guide must also set out in detail how to make a complaint against a financial adviser.

SOLICITORS HELPLINE 1800 455 886

Negligent Financial Advice

The mere fact that a financial investment fails does not necessarily mean that there was negligent financial advice. Much depends on whether or not the alleged negligent financial adviser obtained enough initial detail from the potential investor including that person’s attitude to risk in order to establish the right investment. Miss-selling by a negligent financial adviser is extremely common and most attempt to blame recession or unfavourable market conditions when in fact the real problem is a lack of knowledge or a lack of care.

SOLICITORS HELPLINE 1800 455 886

Specialist Commercial Lawyers

In order to establish a claim of negligence a client has to prove that the advice fell below the standard expected of a reasonably competent and diligent professional adviser. Our professional negligence solicitors represent individuals in claims against negligent financial advisers. If you would like free initial advice from an expert commercial lawyer on whether or not you have a viable legal claim just call the helpline. We will take initial details and advise both on liability and the anticipated amount of any settlement. If after speaking to us you decide to go no further, you will not be charged for any advice.