IFA Professional Negligence
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What Is IFA Professional Negligence?
Independent financial advisors (IFAs) are regulated by the Financial Conduct Authority (FCA) and are bound by a strict code of conduct. The FCA was established to protect the rights of investors and to ensure that finance professionals act with integrity by providing sound, honest and suitable financial advice to clients. In cases where negligence occurs, it may be possible for the client to make an IFA professional negligence claim.
All IFAs have a duty of care to their clients. As such, if they falsely or negligently represent their services and the terms of investments, clients may have grounds to recover any consequent losses.
IFA Professional Negligence Lawyers
Losing money on an investment alone will not give grounds for a successful claim, even if an investment lost significant value. If the independent financial advisor has followed the financial regulator’s code of practice, acted competently, and represented the client’s best interests in an honest way, there will be no grounds for an IFA professional negligence claim.
In general terms, the test for IFA negligence is whether the advice was of a standard that would be expected of a reasonably competent professional. For a claim to proceed it must also be proved that the client suffered significant financial loss.
How We Can Help
The professional negligence lawyers at Healys work to ensure that you receive clear and in-depth advice about proceeding with an IFA professional negligence claim. If you have a claim against an IFA and want expert legal advice or representation, get in touch so we can discuss your case. Once we have discussed and assessed your claim, you can decide on the best course of action with our support.
Advice on IFA Professional Negligence
Healys are experts in dealing with IFA Professional Negligence Claims. We offer free initial advice on your claim and if you do wish to proceed we may offer in certain circumstances a “No Win No Fee” service in the form of a Conditional Fee Agreement.
Please see information on funding your claim here
What can I claim for?
The following are some examples of cases where valid grounds for a negligence claim against an independent financial advisor may arise:
- If an IFA fails to disclose its own financial interest in a transaction or recommendation, such as receipt of payment or commission for the selling of particular services
- Where the investment has been misrepresented, leading the client to make a decision based on incorrect information
- Where the advice has been unsuitable to the individual client, whose requirements have not been considered
- If the IFA has offered unrealistic guarantees on an investment’s performance
- If the IFA did not fully explain the risks involved
- If the IFA did not disclose a conflict of interest
- If the IFA recommended products that did not match your risk profile
Healys are members of the Professional Negligence Lawyers Association.
For more information regarding IFA Professional Negligence claims, please don’t hesitate to contact our specialist team today.
Recommended by Legal 500, Chambers & Partners and Spears 500
Our professional negligence team has been consistently recognised by leading legal review bodies and for many years.
We are accredited by the Legal 500 as a leading firm for professional negligence with partners Robert Johnson and David Bailey both individually accredited as Recommended Lawyers in this field.
Both Robert Johnson and David Bailey are also named as Top Recommended Litigators in the Spears 500 guide to the best private client advisors, with Robert Johnson additionally accredited by Chambers & Partners as a leading individual for his expertise in professional negligence.
Get in touch
Healys is accredited by the Legal 500 as a leading firm for professional negligence with partners Robert Johnson and David Bailey both individually accredited as Recommended Lawyers in this field. Robert Johnson is additionally accredited by Chambers & Partners as a leading individual for his expertise in professional negligence.
If you would like to speak to Robert or David regarding a professional negligence claim, please contact them at:
Robert.johnson@healys.com or call 07899 973306
David.Bailey@healys.com or call 07887 700205