Financial Negligence Claims

Financial Negligence Solicitors in Dublin

When you seek professional financial advice, you trust that the advisor will act in your best interests, provide competent guidance, and recommend suitable products or investments. When financial professionals fail in their duty—through poor advice, negligent recommendations, or failure to understand your needs—the financial consequences can be devastating.

At Gary Matthews Solicitors, we specialize in financial negligence claims, helping clients recover losses caused by negligent financial advisors, investment managers, pension advisors, and other financial professionals. Our experienced team understands both the legal and financial complexities involved in these cases.

What is Financial Negligence?

Financial negligence occurs when a financial professional or institution fails to provide services to the standard expected of a competent practitioner in their field, resulting in financial loss to the client. This can include:

• Poor or unsuitable investment advice
• Failure to understand or assess your risk tolerance
• Recommending inappropriate financial products
• Failure to diversify investments adequately
• Misrepresentation of investment risks
• Conflict of interest not properly disclosed
• Failure to execute instructions properly
• Breach of fiduciary duty

Types of Financial Negligence Claims

Investment Negligence

Claims involving poor investment advice or management, including:

• Unsuitable investment recommendations
• Failure to adequately assess risk profile
• Over-concentration in high-risk investments
• Failure to diversify portfolio
• Investing in products the advisor didn't understand
• Churning (excessive trading to generate commissions)
• Unauthorized trading
• Failure to monitor investments appropriately

Pension Mis-Selling and Negligence

Pension planning requires expert advice. Claims may involve:

• Inappropriate pension transfers
• Advice to transfer out of defined benefit schemes
• Unsuitable pension investment strategies
• Failure to explain pension charges and fees
• Poor advice on pension drawdown
• Misrepresentation of pension performance
• Failure to consider tax implications

Mortgage and Loan Negligence

• Inappropriate mortgage products recommended
• Failure to explain mortgage terms and risks
• Advice to take on unaffordable borrowing
• Negligent equity release advice
• Failure to secure best available rates
• Poor advice on mortgage restructuring

Insurance Mis-Selling

• Inappropriate life insurance policies
• Over-selling or under-selling coverage
• Payment protection insurance (PPI) mis-selling
• Failure to disclose policy exclusions
• Unsuitable income protection products

Tax Planning Negligence

• Poor tax planning advice resulting in penalties
• Failure to structure investments tax-efficiently
• Negligent advice on tax-advantaged schemes
• Failure to warn of tax implications
• Errors in tax return preparation

Banking and Investment Product Mis-Selling

• Structured products that were unsuitable
• High-risk bonds sold as safe investments
• Failure to explain product risks
• Misleading information about returns
• Inappropriate offshore investments

Compensation in Financial Negligence Claims

The goal of a financial negligence claim is to put you in the position you would have been in had you received proper advice. Compensation may include:

• Direct Financial Losses - The amount lost due to negligent advice
• Loss of Investment Growth - Returns you would have earned with proper advice
• Additional Costs - Fees, penalties, or charges incurred due to the negligence
• Tax Penalties - Penalties resulting from negligent tax advice
• Loss of Pension Benefits - Reduced pension resulting from poor advice
• Consequential Losses - Other financial consequences of the negligence
• Interest - Interest on losses from when they occurred
• Distress and Inconvenience - In appropriate cases

The Financial Negligence Claims Process

1. Free Initial Consultation
Contact us for a confidential discussion. We'll review your case, examine the advice you received, and assess whether you have grounds for a claim.

2. Document Review
We'll obtain and review all relevant documents, including:

• Letters of engagement and terms of business
• Financial advice documentation
• Risk assessment questionnaires
• Product literature and key features documents
• Correspondence with the advisor
• Investment or pension statements
• Records of meetings and telephone conversations

3. Expert Financial Opinion
We work with independent financial experts who will review the advice you received and provide an opinion on whether it met professional standards and was suitable for your circumstances.

4. Complaint to the Financial Services Provider
We'll submit a formal complaint to the financial institution, clearly outlining the negligence and your losses.

5. Financial Services and Pensions Ombudsman
If the complaint isn't resolved satisfactorily, we may refer your case to the Financial Services and Pensions Ombudsman, who can award compensation up to €500,000.

6. Court Proceedings
For larger claims or where the Ombudsman route is unsuitable, we'll issue court proceedings to recover your losses through litigation.

Common Financial Negligence Scenarios

Unsuitable High-Risk Investments
A cautious investor nearing retirement is advised to invest heavily in high-risk equities or speculative investments, resulting in significant losses.

Pension Transfer Advice
An individual is advised to transfer out of a valuable defined benefit pension scheme into a defined contribution scheme, losing guaranteed income.

Over-Concentration
An advisor places too much of a client's portfolio in a single sector or investment, leading to major losses when that area underperforms.

Failure to Rebalance
An advisor fails to review and rebalance a portfolio, allowing it to drift far from the agreed risk profile.

Undisclosed Commissions
An advisor recommends products based on the commission received rather than suitability, without disclosing this conflict of interest.

Time Limits for Financial Negligence Claims

Time limits for financial negligence claims can be complex:

• Court Claims - Generally six years from when the negligence occurred, or three years from when you became aware of it
• Ombudsman Complaints - Must be made within six years of the event or within three years of becoming aware of the issue

Don't delay in seeking legal advice. Financial losses can worsen over time, and early intervention may help mitigate damage. Contact Gary Matthews Solicitors as soon as you suspect financial negligence.

Why Financial Negligence Claims Are Complex

• Financial Expertise Required - Understanding complex financial products and markets
• Causation Issues - Proving the advice caused the loss (not just market conditions)
• Counterfactual Analysis - Determining what would have happened with proper advice
• Expert Evidence Essential - Independent financial experts must assess the advice
• Multiple Parties - Claims may involve advisors, product providers, and platforms
• Documentation Requirements - Extensive financial records must be analyzed
• Regulatory Framework - Understanding financial services regulations

Why Choose Gary Matthews Solicitors?

• Financial Negligence Specialists - Deep understanding of financial services law
• No Win, No Fee - Zero financial risk in pursuing your claim
• Expert Network - Access to leading independent financial experts
• Proven Success - Substantial compensation recovered for clients
• Ombudsman Experience - Skilled in presenting cases to the Financial Services Ombudsman
• Litigation Expertise - Extensive courtroom experience in financial claims
• 24/7 Availability - Always here when you need advice
• Clear Communication - We explain complex financial issues plainly
• Maximum Compensation - We fight for full recovery of your losses