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IFA Professional Negligence Claims
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Healys are experts in dealing with IFA Professional Negligence Claims, contact us today.  We offer free initial advice on your claim and, if you wish to proceed, we offer a “No Win No Fee” service in the form of a Conditional Fee Agreement.

I approached Robert Johnson of Healys on behalf of my 89 year old father in law who had been the victim of poor advice from an IFA. Robert immediately understood all of the issues and set out the options and pitfalls in very clear language that we could both easily understand. I would not hesitate to recommend Robert for any IFA related matters.
Andrew Roberts

Independent financial advisors (IFAs) are regulated by the Financial Services Authority (FSA) and are bound by a strict code of conduct. The FSA 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 claims.

Choosing a Regulated Firm

The FSA provides a helpful register of FSA-regulated firms and individuals .

Choosing an advisor regulated by the FSA is an important first step to ensuring the right advice.

Making a Complaint

All IFAs should have a stringent and client-friendly internal complaints process. Sadly, however, this is not always the case. Those clients who receive no satisfaction from the internal complaints procedure may take their cases to the Financial Services Ombudsman , which will, if necessary, conduct an independent investigation and award compensation where appropriate.

IFA Professional Negligence Claims, How To Prove Negligence?

Losing money on an investment will not, in isolation, give grounds for a successful compensation claim. Even if an investment has lost significant value, if the IFA in question has followed the financial regulator’s code of practise, acted competently and represented the client’s best interests in an honest and suitable way, there will be no grounds for an IFA professional negligence claim.

We would like to thank you for all your assistance in our recent legal matter. We greatly appreciated your sound advice and all the work you did in ensuring that our interests were protected. You also explained matters to us with great clarity and ensured that we understood everything. The costs were very reasonable and we will certainly recommend you to our friends and colleagues.
Joanna McKenna

In general terms, the test for IFA negligence is whether the advice was of a standard that would be expected of a reasonably competent and diligent professional. Furthermore, for a claim to proceed it must be proved that the client suffered significant financial loss.

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.

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.

Advice on IFA Professional Negligence Claims in London & Brighton

The professional negligence lawyers at Healys work to ensure that clients receive clear and in-depth advice about proceeding with an IFA professional negligence claim.

Call our Brighton and London offices today, on 020 7822 4106 or click through to find out more about our individual partners.

Call Us Today
Call our London office on 020 7822 4000 or our Brighton office on 01273 685 888. You can also contact us online.
Call Us Today
London: 020 7822 4000 Brighton: 01273 685 888 Or you can contact us online: Contact Us
IFA Professional Negligence Claims capabilities
IFA Professional Negligence Claims experiences
  • Our client, a property developer was in the process of obtaining a property. The case involved two law firms that acted for the buyer & seller. After the transaction was complete, the client discovered that the seller had committed identity fraud and lost a considerable amount of money. Issues included breach of warranty of authority and breach of trust on the part of the solicitors who acted on behalf of the fraudster; the scope of the duty of care of the firm acting on behalf of our clients and whether the clients’ consequential loss of profit was recoverable at law. Our client decided to contact Jerome O’Sullivan and Healys’ Professional Negligence team in order to make a claim. Solicitors’ legal obligations in such circumstances are unclear and this matter may lead to clarification of the law in this regard. The team, led by Jerome O’Sullivan was able to successfully make a claim against the two firms for £1.5million.
  • Our client divorced with his wife and asked his former solicitors to take on his case. After completing procedures, he realised that the law firm had not protected his interests & assets. His wife dissipated all the assets leaving him very surprised and unsatisfied by the service that they had provided. Our client decided to contact Robert Johnson and Healys’ Professional Negligence team in order to make a claim. Robert Johnson and the Healys Family team acted extremely promptly to guarantee our client a success in his claim. They were able to successfully make a claim in the sum of £50,000 for failure in acting for our client’s best interests.
  • Our client’s claim arose out of the failings of her former solicitors to deal with her divorce. This included the dissipation of assets held by the husband in Hong Kong by way of freezing orders. The claim focused on conflicting evidence between the client and husbands solicitor. After lengthy negotiations with the other side, Robert Johnson was able to secure the client £650,000 in compensation.
  • Our client had a previous claim with another law firm in relation to his property being undervalued when sold. Unfortunately our client received poor advice from the previous law firm which resulted in him loosing the initial claim against the mortgagee and valuer. Robert Johnson was able to successfully make a claim against the previous law firm for loss in opportunity. After lengthy mediation with the other side, Robert was able to secure our client £800,000 in compensation.
  • Our client needed advice regarding an Under-Lease, and so they approached a firm about their issue. However, our client soon realised that the firm had given incorrect advice. He decided to contact Healys in order to make a claim against the law firm for failure to advise properly in relation to the purchase of an under-lease, the terms of that under lease, the status of the head lessee and rental payment terms. The team, led by Robert Johnson was able to successfully make a claim for £150,000 against the firm.
  • Our client decided to make a claim against their former solicitor in respect of the failure to advise properly with regard to rights of appointment of LPA Receivers leading to the adoption of the wrong strategy, appointment of receivers and subsequent losses. The team, led by Robert Johnson was able to successfully make a claim against the firm for £4 million in failing to advise on the risks of the strategy.
  • Our client instructed a firm of solicitors to deal with a claim in regard to his former employer. He was unfortunately unaware that the firm he instructed was in financial difficulty. Subsequently the firm went into liquidation. This lead to the solicitor dealing with the case to be negligent towards our client’s case. The team, led by Robert Johnson was able to successfully make a claim for £200,000 against the firm for failure in treating our clients claim with due care and diligence. Nick Evans, our employment law expert, also took part at the claim. We acted for the client under a CFA and since the case the firm in question has been dissolved.
  • The client’s wife was involved in an RTA which led to a claim on the client’s insurance. The insurer instructed a solicitor in the client’s name to commence proceedings to recover the insurer’s losses from the other party involved in the RTA. The solicitor negligently allowed a judgement in default to be entered on a counterclaim against our client. The client was unaware of the judgement until he applied for a mortgage some 15 months later. As a result our client suffered numerous heads of losses including increased mortgage costs and potential loss of earnings because of his job as a police officer. The case was led by Ben Parr-Ferris who made a claim against the solicitor for negligently allowing the judgement on his wife’s RTA insurance claim. The aim of Ben and his team was to safeguard the client’s career and make sure the judgement does not affect his progression. A number of negotiations were attempt with the insurer in order to revert the decision made by the solicitor as an insurer debt. However, both of them failed. Although the team were able to get assurances from our client’s employer that the judgement should not impact the client career in any way. The solicitor has since accepted liability and Ben Parr-Ferris was able to secure our client £30,000 in compensation.
  • While in the process of buying their new home, our clients contacted Property Survey Company in order to complete the required checks on their potential new property. The Property Survey Company completed all the checks and informed our clients that no defects were found. Unfortunately after purchasing the property our clients noticed a number of defects in the property and after getting a second opinion it was found that the original survey was incorrect. The team was able to successfully make claim against the property surveyor as they failed to provide our clients with the survey they asked for but also they failed to identify certain defects in the property. Robert and the team were able to secure £50,000 in compensation for our clients in an out of court settlement.
  • Our client had a significant property portfolio. She found out that a number of her properties had been sold without her knowledge under her ex-husbands name. The properties in question were equally owned by our client and her ex-husband, so no sale should have taken place without her knowledge. After instructing a number of expert witnesses that included a hand writing expert, it was found that the property was unlawfully sold. With this information, Robert Johnson and the Professional Negligence team at Healys was able to secure £750,000 in compensation after lengthy mediation with the other side.
IFA Professional Negligence Claims insights
  • Client Receives £1.5million In Compensation After A Fraudulent Property Transaction

    31st January 2017

    Our client, a property developer was in the process of obtaining a property. The case involved two law firms that acted for the buyer & seller. After the transaction was complete, the client discovered that the seller had committed identity fraud and lost a considerable amount of money. Issues included breach of warranty of authority and breach of trust on the part of the solicitors who acted on behalf of the fraudster; the scope of the duty of care of the firm acting on behalf of our clients and whether the clients’ consequential loss of profit was recoverable at law. Continue reading »

  • Failure To Provide Proper Advice On An Under-Lease Leads To £150,000 Claim

    1st January 2017

    Our client needed advice regarding an Under-Lease, and so they approached a firm about their issue. However, our client soon realised that the firm had given incorrect advice.  He decided to contact Healys in order to make a claim against the law firm for failure to advise properly in relation to the purchase of an under-lease, the terms of that under lease, the status of the head lessee and rental payment terms. Continue reading »

IFA Professional Negligence Claims awards
  • Chambers & Partners 2018 - Band 4 – Professional Negligence – London, Robert Johnson - “Robert Johnson of Healys is "very thorough and commercially minded," according to sources. He focuses on advising claimants, and assists them with disputes involving a full range of professionals.”
  • Legal 500 2017 - Insurance: Professional Negligence – ranked: Tier 6 (London) - “Healys LLP handles claimant work for clients in disputes against a range of professions, including solicitors, valuers, architects, IFAs, construction and financial services professionals. The team is acting for a private individual in a claim against its former solicitors regarding alleged failure to deal with an employment claim, and represented Dreamvar (UK) in a claim against two firms of solicitors concerning a fraudulent property transaction. Dispute resolution head Robert Johnson is ‘bright, commercial and manages to master the detail while at the same time being focused entirely on the commercial aims of the client’. Jerome O’Sullivan is ‘tenacious and a strong negotiator’. David Bailey joined from Shakespeare Martineau LLP in 2016.”
  • Chambers & Partners 2017 - Band 4 – Professional Negligence – London, Robert Johnson - “Robert Johnson of Healys earns plaudits for his “wealth of experience and strong commercial views.” He is recognised for his experience representing claimants, and his recent activity includes advising on disputes related to property purchases, insurance contract terminations and fund misappropriation claims.”
IFA Professional Negligence Claims news
  • Would Compulsory Mediation Be Just Another Weapon In A Lawyer’s Arsenal?

    25th January 2018

    David Bailey, Partner in the Dispute Resolution team, discusses the question in the Times Newspaper.

    Mediation is generally a cost-effective alternative way to secure dispute resolution. These days, typically in commercial cases, parties arrive legally tooled up with a full set of solicitors, barristers and experts, much as they would for a trial, and act accordingly. Continue reading »