When you obtain professional advice, you inevitably place a great deal of trust in your advisers. Legal and financial matters have become increasingly complex and navigating them without professional advice is often impossible. But what happens when professional advisers get things wrong?
Professionals must submit themselves to higher standards than the average individual and adhere to regulatory obligations and training requirements. In whichever field you require a professional, you can be sure that your adviser has achieved the necessary qualifications and standards to support you. But in an ever more complex world, you also need to ensure that your adviser has the necessary expertise to deal with your requirements.
A lack of specialist expertise is often a contributing factor when a professional adviser makes an error. Mistakes can also arise from simple misunderstandings, procedural irregularities or a failure to take the required action within prescribed time limits. When these errors arise, they can often have significant consequences. Lost opportunities, lost profits or a straightforward loss of money in the bank can arise from the failures of professional advisers.
Where errors do arise, most professionals are obliged to inform you that a mistake may have been made, though this doesn’t always happen in practice. Nor does it necessarily mean that the professional accepts responsibility for the consequences of any error. Sometimes mistakes will only be uncovered many years after the advice has been received, perhaps as part of a subsequent transaction or investment. Either way, if you believe you have received inadequate advice or that a professional adviser has caused you to lose money, speak to us about the options for pursuing a claim.
The types of professional adviser we regularly pursue include: