Claims Against Financial Advisers | Financial Adviser Claims

Professional Negligence Claims Against Financial Advisers

Financial adviser negligence can occur in various situations, potentially causing significant financial losses for individuals seeking professional guidance. These claims against financial advisers typically arise from instances of misconduct, breach of duty, inadequate advice, mismanagement of funds, or fraudulent activities.

Negligent financial advisers may provide incorrect information, fail to disclose risks associated with investments, make unsuitable recommendations, or engage in unethical practices that compromise their clients’ financial well-being. These actions can result in substantial financial harm and loss of trust.

If you have experienced financial losses due to the negligence of a financial adviser within the last three years, we are here to assist you in pursuing a financial adviser compensation claim. Our team of experienced professionals specialises in handling such cases and may be able to help you recover your losses.

A successful financial adviser compensation claim can provide you with the means to regain your financial stability. It may cover a range of damages, including the recovery of lost investments, compensation for financial losses, reimbursement of fees paid for inadequate services, and potentially even additional damages for emotional distress or reputational harm.

We understand the complexities of financial adviser negligence claims and can assess your case to determine if you are eligible for compensation. Contact us today at 0800 041 8358 for a free and impartial consultation regarding your options. Our knowledgeable advisors are here to provide guidance and support throughout the claims process, helping you pursue the justice and compensation you deserve

What is involved in a Financial Adviser Claim?

The first step is to contact us to find out if you may be eligible to make a financial adviser claim. Typically, we’re able to tell you in one call whether we can help.

If you’ve got grounds to make a financial adviser claim we will issue you with our welcome pack so you can read and understand the process.

We will then double-check you want to go ahead and will talk through the no win no fee agreement with you.

Once you proceed to claim, your financial adviser specialist will contact the financial adviser and any other related parties for information and contact them on your behalf and let them know that you’ll be making a claim for your losses.

During your claim, your financial adviser specialist will be your point of contact. It’s their job to keep you up-to-date throughout your claim. They’ll also be happy to answer any questions you may have as your claim progresses.

Case Studies

David was cold called about a no obligation pension review. After speaking to a Financial Adviser he was advised to move his pension to a SIPP (Self Invested Personal Pension) on the basis he would have more flexibility and control.

David transferred £86,238 to a SIPP and was invested into a range of investments by his Financial Adviser. Some of the investments were unregulated and not suitable for David as he was not an experienced investor. Six years later David had only £24,378 remaining in his pension (over £60,000 less than he started with).

David contacted HT Legal Ltd who carried out a consultation over the phone. Having established David had grounds to complain he engaged with HT Legal for his Pension Claim on a No Win No Fee basis.

HT Legal approached his pension provider and financial adviser to gain evidence around his pension claim. The Financial Adviser were no longer in business and therefore HT Legal approached the Financial Services Compensation Scheme (FSCS).

After a only 2 months the FSCS confirmed that David had been mis-advised. They added statutory interest to his claim value which meant a total compensation due of £89,378.

David received the maximum compensation of £85,000 against his financial adviser.

HT Legal then pursued his SIPP provider who were now out of business too and successfully recovered the remaining £4,378 from them.

Frequently Asked Questions

What happens with Financial Adviser Claims?

Every Financial Adviser claim is different. The most important part of our job is taking the time to listen and quickly grasp the unique situation each customer is facing.

Most people are not used to working with the legal or financial services systems which can be very confusing. It’s rewarding for us to be able to provide them with the support they need and give them confidence they are in the right hands.

You can benefit from a free consultation on 0161 808 0142.

Who can make a financial adviser claim?

Financial advisers have a number of responsibilities when dealing with their clients. Any failure to adhere to their responsibility to you as a client could mean you are eligible to make a claim.

It can be as simple as overcharging you for services or charging you for services you have not received or failing to disclose something important to you which would have affected your decision-making process.

More complex cases can involve advisers choosing products that were not appropriate for you, especially when there has been a financial loss.

Our team will help you identify what grounds you may have to claim on 0161 808 0142.

Why should I discuss my Financial Adviser Claim with you?

We are experts in financial adviser claims and employ former financial advisers to provide expert guidance to all of our clients.

We have successfully helped over 600 clients gain the compensation or redress that they are due.

Our no win no fee guarantee means that you are free to pursue justice without any risk, call us today for a no obligation conversation to see what you may be entitled to on 0161 808 0142.

Our Financial Adviser claims experience

We’ve specialised in Financial Adviser claims for longer than anybody and even provide consultation to our competitors in this sector.

You may be wondering how we can help – or whether your claim may be covered by a no win no fee agreement with HT Legal. The best way to be sure is to contact us on 0800 0418 358 for a free, independent and impartial chat.

It’s likely we can help you even if you have not used a financial adviser.

Our solicitors can help with all types of finance claims whether it is a pension claim, fund manager claim or any other claim where you have dealt with a regulated company.

How much compensation or redress might I receive?

There are two routes to compensation with financial adviser claims

FSCS (Financial Services Compensation Scheme)

This is the government funded organisation who handle compensation for claims against firms who are no longer trading and therefore can not pay compensation themselves.

FOS (Financial Ombudsman Service)

The Financial Ombudsman Service settles disputes between consumers and businesses that provide financial services. They resolve complaints fairly and impartially and have the power to put things right however before approaching the FOS you must first exhaust the complaints procedure with the regulated firm. FOS only comes into play if you have been unable to reach a satisfactory outcome with the regulated firm directly.

The amount you could be awarded depends on a number of factors such as:

the type of claim
how the loss is calculated
whether interest needs to be applied
when the advice took place
the evidence available

When you claim through HT Legal we carry out a full investigation with all the relevant parties. By simply signing a letter of authority for us we are able to gather all the evidence required from your providers to build your case and give you the best chance of success and ensure you get the level of compensation or redress that you are entitled to.

We have more than 14 years’ know-how in achieving positive financial adviser claim outcomes for our customers.

Why not try our compensation calculator? It’ll give you a rough indication of what to expect if you don’t feel ready to contact us yet.

What is a no win no fee claim?

No Win No Fee is based on something called a contingent fee agreement. This means that you only pay HT Legal when and if your claim is successful.

HT Legal will cover all the costs of running your claim which includes our time and any associated costs such as Expert Witness Reports, Court Fees and After the Event Insurance (which is a policy to cover any costs in the event your claim is unsuccessful in court).

Our No Win No Fee agreement is a percentage of the total claim value which is determined by the size (how much is the claim worth), complexity (what level of expertise is required to process the claim) and strength of the case (how likely is the claim to succeed) of the claims and can vary from as little as 15% up to 40% plus VAT.

How does a no win no fee claim work in the context of a financial adviser case?

Generally speaking, a claim against a financial adviser will be set at between 15% and 25% of the claim value.

Any additional charges would aim to be covered by the defendant.

The only event in which a client would be charged without a successful claim would be if a client cancelled once the claim process was underway and costs had been incurred by HT Legal.

What is the eligibility criteria for a no win no fee claim against a financial adviser?

There needs to be sufficient evidence of wrongdoing on behalf of the adviser, this can be due to:

Advising on an inappropriate product
Failing to provide services a client has paid for (such as annual reviews)
Overcharging
Lack of disclosure

What types of claims can be pursued on a no win no fee basis in relation to financial advisers?

•Advising on an inappropriate product
Failing to provide services a client has paid for (such as annual reviews)
Overcharging
Lack of disclosure

Are there any upfront costs or fees involved in starting a no win no fee claim against a financial adviser?

There are no up front costs to the client. Costs will be incurred by HT Legal however these are only chargeable to the client in the event the client cancels before the claim has reached its conclusion.

What happens if I lose the case? Will I be responsible for any costs or fees?

No.

Will I need to pay any legal costs if the claim is successful?

Only the percentage charged as part of your contingent fee agreement.

How does the solicitor's fee structure work if the claim is successful?

Fees vary between 15% and 40% (poi’s VAT) of the total claim value and will be clearly disclosed from the outset.

What is the success rate of no win no fee claims against financial advisers?

The success rate against financial advisers vary dependent on the type of claim.
Where a client has been advised into an unsuitable investment and lost money as a result, provided the claim is presented correctly almost 100% of claims will successful where as claims where clients have not lost money directly as a result of bad advice are not as certain.

How long does it typically take to resolve a no win no fee claim against a financial adviser?

What evidence or documentation will be required to support my claim?

We will need evidence of the original advice in order to support the claim.
Normally we are able to gather the evidence for you by writing to the parties involved such as the Pension Providers, Financial Advisers and any other involved parties.

Will my case go to court, or is there a possibility of settlement outside of court?

Your case will only go to court in the event we can not reach a satisfactory conclusion with either the Financial Ombudsman or the Financial Services Compensation Scheme.

What factors are considered in determining the potential compensation amount?

Fees Charged, Performance, Statutory Interest (8%), Loss of Benefits.
We have access to Expert Witnesses who can calculate exactly how much would be the cost to put the client back into the position they would have been had they never met the adviser.