Professional Negligence Claims
Have you been a victim of professional negligence from a regulated financial adviser, mortgage broker or another financial services organisation or individual?
If the answer is yes and you have been left out of pocket, you could be eligible for financial redress or even cash compensation.
Claiming for Professional Negligence
When we first speak to clients, they usually know that something doesn’t feel quite right. However, the prospect of challenging a regulated company or individual can feel daunting, especially when it involves pensions and investments or when they have borrowed money via credit cards, car finance or even mortgages.
Our job is to help people identify who is at fault, why they are at fault, whether they are entitled to make a complaint or claim and how much that claim potentially be worth.
Estimating Your Claim
There are so many factors to take into account when valuing a claim for professional negligence. The goal is always to return you to the position you would be in had the negligence not taken place.
If you’re planning to use a no-win no-fee solicitor like us, then providing you with the calculation of your potential claim value (known as Quantum in the industry) is the first thing we assess once we have carried out our investigations. We have built a number of redress calculators to give people an initial steer on what their claim could be worth.
Managing Your Claim
Claim My Loss is run by qualified solicitors with experience in professional negligence claims. We look into what happened, without judgement or assumptions, to see if poor advice or mismanagement has led to financial loss.
If we believe your adviser, broker or other professional failed in their duty of care, we’ll take the necessary steps to recover the financial redress or compensation that you’re owed and help you move forward.
What are common Professional Negligence Complaints & Claims?
Claims for professional negligence typically arise from:
- Instances of misconduct
- Breach of duty
- Inadequate advice
- Mismanagement
- Fraudulent or unethical behaviour
Professionals who act negligently may:
- Provide incorrect or misleading information
- Fail to explain the risks involved in financial decisions
- Recommend unsuitable products or services
- Overlook key details that lead to poor outcomes
- Put their own interests above yours
These actions can cause serious financial harm and often lead to a breakdown in trust.
How it can help?
A successful professional negligence claim can help you regain financial stability. It may include:
- Recovery of financial losses
- Compensation for poor or negligent advice
- Reimbursement of fees paid for inadequate services
- In some cases, additional damages for stress or reputational impact
If you believe a financial professional has failed in their duty of care, we’re here to help you understand your rights and take action.
Why Choose Us?
We understand that bringing Professional Negligence complaints and claims can be daunting. We’re here to simplify the process, provide clear advice, and act decisively on your behalf. Our team has experience handling complex Professional Negligence claims. We don’t take sides with the advisers or institutions involved – our sole focus is achieving a fair outcome for you.
Professional Negligence FAQs:
What is professional negligence?
Professional negligence happens when a qualified professional, such as a financial adviser, mortgage broker, or pension specialist, fails to use reasonable care and skill, leading to financial loss.
What are some examples of professional negligence?
From our experience, professional negligence can include:
- Being advised to invest in high-risk or unsuitable products without fully understanding the risks
- Receiving poor or misleading advice when transferring or consolidating pensions
- Being sold a car finance agreement with hidden commissions or unfair terms
- Inappropriate mortgage advice, such as being steered into unaffordable or interest-only loans
How do I know if I have a valid claim?
To bring a claim for professional negligence, we usually need to show:
- The professional owed you a duty of care.
- That duty was breached.
- You suffered financial loss as a direct result.
What should I do if I suspect I’ve been misadvised?
If you have concerns about the advice you received or the financial products you were sold, it’s worth reviewing your situation. Many people don’t realise they’ve been affected until it’s too late, but with the right support, it may be possible to recover your losses.
How could professional negligence affect me?
When financial professionals fail in their duty, the impact can be long-lasting. You may find yourself:
- Locked into unsuitable or underperforming investments
- Facing a reduced pension pot at retirement
- Repaying more than expected on a car finance agreement
- Struggling with mortgage repayments, or unable to switch deals
In many cases, this loss could have been avoided with proper advice. That is why it is important to review your situation, especially if you have doubts about the advice you received or the products you were sold.
Do I need to still be a client of the company I am complaining against?
You don’t need to still be a client of the company to make a claim, in fact, a lot of the complaints and claims we handle are against former regulated advisers and organisations.
It’s important to remember that the time since the event took place or since you realised you may be entitled to claim, can impact whether you still have the right to make a claim. Our article on Why acting now matters explains how the statute of limitations works in more detail.
If in doubt, why not talk to one of our team. It costs nothing to book a free consultation with one of our experts, or to pursue a claim directly or with a professional firm like us. We only take an agreed percentage of your awarded claim, meaning if your claim is not successful you do not pay.
What if I don’t feel comfortable bringing a claim or complaint?
In an ideal world nobody would have cause to complain or claim for professional negligence in financial services. Some cases of professional negligence are inadvertent mistakes, in others, they are deliberate dereliction of duty. The primary issue is not establishing intention, it’s establishing where they have failed in their duty and if so, how much money have you lost as a result.
We are here to help people who don’t want to take on the adviser or firm themselves or simply don’t feel capable of accurately assessing the loss and their rights.
As solicitors, we act on your behalf to try and put things right via financial redress or compensation on a no-win no-fee basis, meaning we only take an agreed percentage of the redress or compensation awarded when your claim is successful.
How could professional negligence affect me?
When financial professionals fail in their duty, the impact can be long-lasting. You may find yourself:
- Locked into unsuitable or underperforming investments
- Facing a reduced pension pot at retirement
- Repaying more than expected on a car finance agreement
- Struggling with mortgage repayments, or unable to switch deals
In many cases, this loss could have been avoided with proper advice. That is why it is important to review your situation, especially if you have doubts about the advice you received or the products you were sold.
Making a professional negligence claim
At Claim My Loss, we make it easy to find out if you have a valid claim, and if so, help you pursue compensation.
We have successfully helped over 600 clients gain the compensation or redress they deserved.
How it Works
If you are concerned your financial adviser, pension, investment, car finance or other financial services product may not have been right for you, then you may be able to make a claim for compensation or redress. The process for making a claim typically involves the following steps:
1. Online Sign Up or Phone Consultation
We know financial claims can be complex and intimidating, so we’re here to help you every step of the way. Use our handy claims calculator or ask our AI assistant any questions you may have. You always have the option to talk to one of our claim experts if you prefer.
2. Getting the Evidence together
Don’t worry if you don’t have all your documentation. As regulated solicitors, we can chase in all the documentation relating to your claim from the providers involved, such as contracts, statements, and communications. All you have to do is appoint us to collect this information on your behalf.
3. Submit your Complaint
We will value your claim and then submit a claim to the Financial Services Compensation Scheme or raise a formal complaint to your pension provider, financial adviser, car finance provider or business energy adviser outlining the reasons why we believe you are entitled to compensation or financial redress.
4. Await response
We will provide regular updates and chase your claim through to a final response - you can also check our progress via our online portal. If we are unhappy with the response, we will pursue a claim through the Financial Ombudsman Service or if required escalate your claim to a formal tribunal which means representing you in court.
5. Acceptance of Offer
Once you are satisfied with the level of compensation or financial redress, we will claim the reward and distribute the funds to you via our client account. Claims are often complex and can take time to reach a conclusion. We will always work to achieve the maximum level of compensation or financial redress as quickly as possible.
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