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Case Study: Financial Adviser Negligence Claim

We are assisting a woman who was forced to sell the $4 million share portfolio she had inherited from her uncle after being given inappropriate advice from a financial adviser.

In 2008, following the death of her father and the subsequent inheritance she received, our client sought the assistance of a financial adviser. Apart from owning her own home, she had limited investment experience, never owning shares, managed funds or similar types of investments.

After consultation with our client, the financial adviser proposed that she diversify her portfolio by investing in six agribusiness opportunities. The adviser also recommended she take out a $1 million margin loan to invest in managed funds.

The client's modest income from her job as a teacher plus the dividends she received did not cover the significant fees from the agribusiness investments. After a period of time our client's margin loan account went into a margin call and she was forced to sell her nest-egg to pay out the substantial loan.

We are now acting for the woman and are assisting her to recover the significant loss she has suffered. By assisting her on a No Win No Fee basis, she can focus on getting her life back on track without having to worry about legal fees.


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Written by Shine Lawyers. Last modified: February 25, 2020.

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