How hard is it to claim against investment advisers?
To speak to an expert professional negligence solicitor for free today, call 01271 343457.
The recent case of O'Hare v Coutts & Co has potentially made it more difficult for claimants to bring a case for professional negligence against their financial advisers, or investment advisers, if the investment fails to deliver.
In this case, the judge decided that where an "informed" claimant was able to decide on the level of risk that they were willing to take, the investment adviser could not then be penalised if those risks lead to loss.
The previous test that judges in this type of case had used, was whether or not the defendant had been advised to the standard of a reasonably skilled professional.
This case will undoubtedly make it more difficult for sophisticated investors to bring claims against their financial advisers, or investment advisers, even if the advice from that investment adviser is wrong.
What is professional negligence?
Professional negligence is the name given to what happens when a professional, such as an investment adviser, has not provided their client with the level of advice or service that they are entitled to accept.
Examples of professional negligence are as follows:
Example 1: a solicitor who fails to ensure that the boundaries of the property they are buying or selling are properly demarcated.
Example 2: a surveyor who fails to identify problems with a property they are being paid to review, such as dry rot, damp, roof spread or the presence of asbestos.
Example 3: A financial adviser or investment adviser who does not properly advise a client about the risks of the investments they are intending to make.
Example 4: an accountant who fails to deal with a person or a company's financial affairs in a timely manner, leading to the imposition of fines or additional tax liabilities.
There are many other types of professional negligence. If you think you have been the victim of professional negligence, which has caused you loss, you should not delay in exploring the possibility of bringing a claim to recoup those losses.
How can we help?
Samuel Solicitors, based in Devon have a wealth of experience in dealing with professional negligence claims against investment advisers, financial advisers, and all other types of professional.
Our senior partner, Jan Samuel, is described by clients as a "formidable litigator" and has been a member of the Professional Negligence Lawyers' Association for many years.
If you have a strong claim against a professional, such as an investment adviser, or financial adviser, we may be able to assist you under the terms of a conditional (no-win no fee) arrangement. If that is not possible, we have a wide range of flexible funding options which we have designed for clients to assist with legal fees.
We will assist you by assessing any matter initially for free, and so you have nothing to lose by contacting us to discuss your circumstances.
Contact us today for a free discussion about how we can help you with your claim against a professional.