Financial Advisor Negligence

If you think you’ve received incorrect or unsuitable financial advice and have suffered loss, help is available.

You may be able to make a claim if your financial advisor recommended the following:

• Margin loans – Where you have been advised to take out a margin loan despite it being an unsuitable investment for you.
• Options, derivatives and other speculative investments – Where an investment strategy was recommended to you despite it being inappropriate to your circumstances and you being unfamiliar with the financial products involved.
• Capitalising interest on margin loans – Where you have been advised not to repay interest on a margin loan and then as a result couldn’t afford the monthly interest payments.
• Agriculture business investments – Where you have been advised to invest in agricultural business investments so you could get an up-front tax deduction despite it being unlikely you would receive a return on your investment. As a result, you would have suffered significant debts.
• Investing in shares and managed funds that fail – Where you were advised to invest in company shares and managed funds that have failed because the underlying product was flawed and valueless.

When looking for legal advice ask for a legal representative who can explain your claim in a simple way so you understand exactly what you could be compensated for.

To make a successful claim for negligence against a financial advisor, your legal team will have to prove:

• That your financial adviser owed you a duty of care
• That the financial advisor’s actions or advice was not in line with advice from other similar advisors
• That the financial advisor’s action or advice caused you to suffer financial loss

Most financial advisors are required by law to have Professional Indemnity Insurance (PII), so if your claim is successful it’s the insurance company that pays.

Our job is to find out who the insurance company is and put your claim together in the best possible way. This means you can get the best outcome while having the time to focus on restoring your health.

If your claim is successful, the compensation you are paid should return your financial position to what it was before your financial advisor let you down.

The compensation could include any profits you lost and any expenses you were hit with while trying to fix the negligence.

The amount you will be able to claim will depend on the particular facts of your situation.

Once we have put together all of the evidence we should be able to give you a better idea of what to expect.

Every case is different but we’ll finalise your claim as soon as possible. Most claims will be finalised from two years from when you first contact a lawyer.

The time limits for making a claim against a financial advisor can vary.

Generally, you have six years from when you first engaged the advisor or six years from when your loss occurred.

Shine Lawyers work on a No win no fee basis so you’ll only pay our fee if you win your case at the end of the claim. We are open and honest about what we charge because the last thing you want to stress about is money.

The amount of legal costs at the end will depend on the amount of work required to resolve your claim. This is all recorded on an ongoing basis and you can ask for an update on how things are looking at any time.

Where you are located isn't necessarily a barrier when it comes to obtaining the services of a lawyer. We're experts when it comes to financial advisor negligence related claims and we can help you get the compensation you deserve.

It doesn't matter if you are located close or far away from a Shine Lawyers office - we will always provide the same, expert advice and manage your claim with the same level of quality and commitment.

Our compensation experts are in the following locations:

Shine Lawyers are financial negligence lawyers that can help you recover the compensation you need following losses you have sustained. Click on the link below for more information about how Shine Lawyers can help you.

Why you should choose Shine Lawyers to handle your financial negligence claim

Hear from some of our clients

History of Shine Lawyers

The Shine Lawyers team

Shine Lawyers also have accredited specialists in personal injury law across the nation:

Accredited Specialists - Queensland

Simon Morrison

Managing Director and Chief Executive Officer

Brisbane, Queensland

View profile

Jodie Willey

Chief Operating Officer

Brisbane, Queensland

View profile

Roger Singh

National Practice Leader | Asbestos and Dust Diseases

Brisbane, Queensland

View profile

Melissa O'Neill

National Practice Leader | Superannuation & Disability Claims

Brisbane, Queensland

View profile

Bree Smith

Legal Practice Manager

Logan, Queensland

View profile

Amanda Gilmour

Associate

Robina, Queensland

View profile

Accredited Specialists - New South Wales

Hadi Boustani

Senior Associate

Sydney CBD, New South Wales

View profile

Accredited Specialists - Victoria

Leah Hickey

Legal Practice Manager

Sunshine, Victoria

View profile

Cameron Tout

Legal Practice Manager

Melbourne, Victoria

View profile

Sha Hotchin

Legal Practice Manager

Epping, Victoria

View profile

Catie Norman

Legal Practice Manager

Sunshine, Victoria

View profile

Thomas Bradley

Special Counsel

Dandenong, Victoria

View profile

Ashleigh Kemp

Senior Associate

Dandenong, Victoria

View profile

Justin Burke

Special Counsel

Geelong, Victoria

View profile

Amber Chen

Senior Associate

Melbourne, Victoria

View profile

Sarah Baker

Associate

Epping, Victoria

View profile

Shine Lawyers has been involved in a number of financial advisor negligence cases that have been covered by mainstream media.

These cases include:

• Macquarie Private Wealth action
• RBS class action
• ANZ class action
• Wickham Securities action
• Financial Technology Securities (FTS)
• Dan Bowl Tax Minimisation Scheme Group Action