Financial Advice Disputes
Every Australian wants to secure their financial future and that
of their family. More and more people are investing on the stock
market and it's paramount that you get the right financial
advice.
When you don't, you may be entitled to compensation. Maurice
Blackburn has a team of legal experts who can help you pursue a
claim as a result of negligent financial advice.
We help everyone from professionals and self-funded retirees to
mum and dad investors.
We understand that in this industry, investors put their trust
in the expertise of financial advisers and really put their lives
and futures in the advisers' hands.
Receiving bad financial advice can have devastating consequences
and Maurice Blackburn can assess whether you have a right to
claim.
Financial Advice Disputes
Every Australian wants to secure their financial
future and that of their family. More and more people are investing
on the stock market and it's paramount that you get the right
financial advice.
When you don't, you may be entitled to
compensation. Maurice Blackburn has a team of legal experts who can
help you pursue a claim as a result of negligent financial
advice.
We help everyone from professionals and self-funded
retirees to mum and dad investors.
We understand that in this industry, investors put
their trust in the expertise of financial advisers and really put
their lives and futures in the advisers' hands.
Receiving bad financial advice can have devastating
consequences and Maurice Blackburn can assess whether you have a
right to claim.
Do I have a claim?
If you've suffered loss as a result of negligent
financial advice from a financial planner or financial institution
you may be entitled to compensation.
However if you have tried to pursue compensation
alone, you will understand how difficult it can be dealing with
financial advice organisations and their insurance companies and
what it is like to have your problems ignored.
Our lawyers are experts in this area of law and
will try to make the process easier for you by providing
straight-forward legal advice. We have acted for clients
against companies such as Commonwealth Financial Planning Ltd,
Citigroup, Morgan Stanley Smith Barney, Wealthsure and Notolep
Private Clients (formerly known as SAI/Peloton) and we can
represent you "no win/no charge" in eitherclass actions or
individual claims. No matter who you are up against, Maurice
Blackburn will fight to protect you.
Read our media release about one client's fight for
compensation
What types of claims can I pursue against my
financial adviser?
There are a number of grounds for pursuing
compensation from your financial adviser, including:
• Failing to do an adequate
assessment of your circumstances, needs and objectives.
• Failing to assess your tolerance
for risk.
• Failing to warn of the risks
associated with the investments and investment strategy.
• Failing to monitor investments and
respond to changing economic circumstances.
• Providing advice that was not
appropriate for someone in your circumstances.
• Advising you to take out loans
which you could not afford.
How do I know whether or not I can recover my
losses?
You should ask yourself the following -
* Did you undergo a detailed risk profile initially
and again in the event that your circumstances changed?
* Did you complete your risk profile questionnaire,
without being influenced by your adviser?
* Did you receive a Financial Services Guide and
Product Disclosure Statements?
* Did you receive a Statements of Advice?
* Did you fully understand the recommendations and
the risks involved?
* Did your portfolio contain a spread across
different asset classes?
* Did your portfolio contain a spread across
different sectors and industries?
* Did you have the financial means to make
repayments on loans you were advised to take out for
investing?
If the answer to any of the above is 'No' and you
have suffered loss, it would be worthwhile investigating a
potential claim.
What can I do if I've received bad financial
advice?
You can lodge a formal complaint with the financial
advice organisation, and if you are not satisfied with their
response, you can appeal to the courts or to an industry complaints
scheme such as the Financial Ombudsman Service (FOS). There
are advantages and disadvantages of going to FOS or to court, and
there are important time limits for lodging disputes. We can
provide you advice about this and represent you in the formal
complaint stage as well as at FOS or in court.
Will it cost anything to find out whether I can
make a claim?
No - our financial advice lawyers will act for you
on a "no win-no charge" agreement. There is NO CHARGE for advice or
for the first appointment in a matter if you do not win. For advice
and help with a claim, click here to be to be contacted by a lawyer
or call 1800 196 050.
Commonwealth Financial Planning Ltd Class
Action
Maurice Blackburn is conducting a class action
against Commonwealth Financial Planning Ltd to recover compensation
for all those investors who lost millions by relying on the
recommendations of CFPL's financial planner, Mr Don Nguyen.
Maurice Blackburn began its investigations into
Commonwealth Financial Planning in early 2010 when it launched
legal proceedings on behalf of four investors who lost a combined
$3.7 million because, it was alleged, they relied on Mr
Nguyen's poor investment advice. Mr Nguyen was a financial
planner employed by CFPL until July 2009. The class
action that is before the Federal Court in Sydney is
for all victims of Mr Nguyen's conduct whose claims have not yet
been settled.
Maurice Blackburn has also settled a number of
other claims against Mr Nguyen.
Class action details
Read our media release
Do I have a
claim?
If you've suffered loss as a result of negligent financial
advice from a financial planner or financial institution you may be
entitled to compensation.
However if you have tried to pursue compensation alone, you will
understand how difficult it can be dealing with financial advice
organisations and their insurance companies and what it is like to
have your problems ignored.
Our lawyers are experts in this area of law and will try to make
the process easier for you by providing straight-forward legal
advice. We have acted for clients against companies such as
Commonwealth Financial Planning Ltd, Citigroup, Morgan Stanley
Smith Barney, Wealthsure and Notolep Private Clients (formerly
known as SAI/Peloton) and we can represent you 'no win/no charge'
in either class actions or individual claims. No matter who
you are up against, Maurice Blackburn will fight to protect
you.
What types of claims can I pursue against my
financial adviser?
There are a number of grounds for pursuing compensation from
your financial adviser, including:
- Failing to do an adequate assessment of your circumstances,
needs and objectives.
- Failing to assess your tolerance for risk.
- Failing to warn of the risks associated with the investments
and investment strategy.
- Failing to monitor investments and respond to changing economic
circumstances.
- Providing advice that was not appropriate for someone in your
circumstances.
- Advising you to take out loans which you could not afford.
How do I know whether or not I can recover my
losses?
You should ask yourself the following:
- Did you undergo a detailed risk profile initially and again in
the event that your circumstances changed?
- Did you complete your risk profile questionnaire, without being
influenced by your adviser?
- Did you receive a Financial Services Guide and Product
Disclosure Statements?
- Did you receive a Statements of Advice?
- Did you fully understand the recommendations and the risks
involved?
- Did your portfolio contain a spread across different asset
classes?
- Did your portfolio contain a spread across different sectors
and industries?
- Did you have the financial means to make repayments on loans
you were advised to take out for investing?
If the answer to any of the above is 'No' and you have suffered
loss, it would be worthwhile investigating a potential claim.
What can I do if I've received bad financial
advice?
You can lodge a formal complaint with the financial advice
organisation, and if you are not satisfied with their response, you
can appeal to the courts or to an industry complaints scheme such
as the Financial Ombudsman Service (FOS). There
are advantages and disadvantages of going to FOS or to court, and
there are important time limits for lodging disputes. We can
provide you advice about this and represent you in the formal
complaint stage as well as at FOS or in court.
Will it cost anything to find out whether I can
make a claim?
No. Our financial advice lawyers will act for you on a 'no
win-no charge' agreement. There is no charge for advice or for the
first appointment in a matter if you do not win. For advice and
help with a claim, click here to be to be contacted by a
lawyer or call 1800 196 050.
Commonwealth Financial Planning Ltd Class Action
Maurice Blackburn is conducting a class action against
Commonwealth Financial Planning Ltd to recover compensation for all
those investors who lost millions by relying on the recommendations
of CFPL's financial planner, Mr Don Nguyen.
Maurice Blackburn began its investigations into Commonwealth
Financial Planning in early 2010 when it launched legal proceedings
on behalf of four investors who lost a combined $3.7 million
because, it was alleged, they relied on Mr Nguyen's poor
investment advice. Mr Nguyen was a financial planner employed
by CFPL until July 2009. The class action that is
before the Federal Court in Sydney is for all victims of Mr
Nguyen's conduct whose claims have not yet been settled.
Maurice Blackburn has also settled a number of other claims
against Mr Nguyen.
Class
action details
Read our media release