Recouping losses from bad financial advice
People who seek advice from a financial advisor have a right to assume a certain level of care and expertise. Their financial affairs should be properly managed.
Financial advisors who fail to exercise a duty of care and whose work falls below the standard required by the law may cause serious repercussions for their clients. Poor or inappropriate financial advice may lead to clients suffering significant financial losses; their retirement and self-managed superannuation funds that have often been accumulating over a lifetime, may be put at risk.
In the majority of circumstances losses caused by market fluctuations and other calamities are not means to make a claim. However, when your lifestyle or retirements are lost as a result of bad financial advice then you may be able to seek compensation from your financial advisor.
If this is the case, a person may be able to obtain compensation for any losses directly resulting from inappropriate financial advice. This is where we can help.
Our lawyers are experienced in helping Australians seek compensation when things go wrong, and helping those who suffer losses from poor financial advice is no exception.
By working with us
Our bad financial advice claims lawyers have as strong track record in helping Australians seek compensation when they receive inappropriate financial advice.
Financial advisors owe a duty of care to their clients which require them to:
- Obtain sufficient information about the client’s financial needs and objectives
- Understand the financial products they are offering, and
- Act within the scope of their expertise.
This duty of care extends to financial advisors, financial planners, stockbrokers, accountants and bankers, along with a number of other professionals.
How can Slater and Gordon help?
At Slater and Gordon our lawyers with expertise in this area of law can:
- Explore avenues for compensation for poor financial advice
- Investigate whether a duty of care has been breached and if a claim can be made
- Find the best course of action to manage risk and maximise return, and
- Offer flexible litigation funding options.
What will I pay in fees?
Slater and Gordon’s experience in pricing and assessing claims has been honed under our longstanding No Win - No Fee* arrangement. Typically, this conditional fee arrangement requires us to invest time and resources upfront to assess the prospects of a mater prior to commitment and then form a pragmatic commercial assessment of how to achieve a satisfactory outcome.