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PROFESSIONAL NEGLIGENCE SOLICITORS - FINANCIAL ADVICE COMPENSATION LAWYERS - AUSTRALIA

LAWYER HELPLINE: 1800 455 886

We only deal with losses incurred as a result of negligent financial advice given by banks, financial institutions, advisors and wealth management companies.

The work carried out by a professional negligence lawyer involves claiming compensation for negligent advice or for unsatisfactory work carried out by professionally qualified people including fund managers, superannuation trustees, managers & promoters of managed investment schemes, banks, financial institutions, stockbrokers or financial planners & advisers. Almost all professional people who give advice are insured and have the benefit of indemnity insurance which covers them against negligent actions meaning that it is an insurance company that will actually pay any damages that may be awarded. A solicitors professional negligence claim often involves complex legal issues which, due to the fact that most qualified people are indemnified by a policy of insurance, results in their insurers instructing professional negligence solicitors of the highest calibre to defend any compensation claim that may be intimated against their insured. Fund managers, superannuation trustees, managers & promoters of managed investment schemes, banks, financial institutions, stockbrokers or financial planners & advisers are never going to be a pushover when it comes to legal proceedings for professional negligence. They are usually intelligent, educated and articulate and it’s definitely to your advantage to be represented by an expert lawyer, well versed on dealing with defended professional negligence claims.

    Banks & Financial Institutions

      The arrogance of negligent banks and financial institutions is often breathtaking, accompanied by a total failure to ever accept culpability for some of the most fundamental errors often giving rise to substantial losses. Banks now deal with a raft of services and whilst negligence is common amongst professionals it is not surprising that banks suffer from the same problems. Banks often employ others to carry out work and it may be that the bank is responsible in negligence for their erroneous actions. If you have lost money in a negligent banking transaction do not hesitate to contact our professional negligence solicitors for free advice.

    Financial Advisors - Wealth Managers

      There is no doubt that professional negligence solicitors claims against financial advisors and wealth managers can be difficult and complex. All investments carry with them risk however the question that is most often asked in regards to a negligent financial advisor is whether or not the degree of risk was fully explained and were more appropriate investments suggested. In addition most investors place heavy reliance on their financial advisor who inevitably is held out as an expert and a fiduciary relationship exists whereby the financial advisor must be seen to exhibit the same skill and care that a reasonably competent financial advisor would exhibit. Failure to posses these skills may amount to negligence.

      It must be stated from the very beginning that not all professional financial advice that results in monetary loss can be considered to be negligent. The mere fact that an investment recommended by a financial adviser, planner, consultant or stockbroker does not perform as anticipated does not necessarily mean that a profession financial consultant has been negligent in making that recommendation. Disputes of less than $150,000 may be resolved by the Financial Ombudsman Service (FOS) whilst figures in excess of this sum must be dealt with by mediation, negotiation or litigation. The issue of negligence relating to investment advice can be a complex legal matter which requires skilled legal advice from a qualified lawyer.

Negligence Law

The ordinary law of negligence applies to fund managers, superannuation trustees, managers & promoters of managed investment schemes, banks, financial institutions, stockbrokers or financial planners & advisers. This means that provided the consultant owes you a duty of care which will be in existence in most commercial relationships and you rely on any advice that has been given to your detriment, you will be entitled to claim compensation for direct loss that is reasonably foreseeable if the adviser failed to exercise reasonable skill & care. Conduct that may contribute to a finding of negligence includes failure to :-

  • fully consider personal needs & finances
  • make a reasonable assessment of the figure for investment
  • advise against unsuitable investments
  • assess investors attitude to risk
  • warn of high risk investment
  • advise on potential risk of an investment
  • advise on the brokers or advisers contra interest
  • take independent advice from another consultant where appropriate

Professional Negligence Solicitors

Where possible we try to avoid recourse to a court of law with the incumbent costs and delays and always attempt to resolve any dispute in a non contentious manner. In some circumstances we are able to use alternative dispute resolution or arbitration where appropriate however in cases where there is no possibility or an agreed solution involving the payment of costs and compensation we do not hesitate to issues legal proceedings for damages or an in junction in a court of law. If you find yourself in the difficult position of having to consider instructing professional negligence solicitors to take legal action against negligent lawyers, banks, financial institutions, financial advisors or wealth managers our professional negligence solicitors are able to offer advice at no cost without further obligation furthermore in appropriate cases we may be able to deal with the claim on a no win no fee basis. If you would like to know if you have a valid claim just complete the contact form or email our offices or call the helpline and a solicitor will telephone you as soon as possible. We will take a detailed statement over the phone and carry out a risk assessment there and then before advising on your chances of success and the estimated damages that may be appropriate to provide adequate compensation.

We only deal with losses incurred as a result of negligent financial advice given by banks, financial institutions, advisors and wealth management companies.

HELPLINE: 1800 455 886




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