Financial Planning

How A Lawyer Can Help You Against Financial Planning Negligence


When you do the right thing and ensure that your financial planning is taken care of, it can be frustrating to find out that your accountant or other financial helper has not done their job. In some cases this is merely a slight annoyance, but it others it can literally mean the loss of all of your hard earned money. Thankfully, skilled lawyers who have trained in the subject of financial planning negligence can help reduce the burden that this type of negligence puts on your shoulders. Even if you haven’t lost anything, they may still be able to get you compensation in exchange for the anguish and stress that you have been put through.

Wrongful Advice

The advice that you get from a financial planner is legally required to be complete, truthful, and beneficial. If you receive advice that is incorrect, or doesn’t fit within these parameters, then you are likely to have a case against your financial planner. The likelihood of such a case being possible increases if you have made financial decisions based upon this advice and if those decisions have led to a financial loss. However, you may still be able to file a case against a financial planner, even if you did not follow their advice, if you can prove that they knowingly misled you during a paid session.

Misleading Contracts

While it is up to you to read through contracts before signing them, if the information contained within them is purposefully misleading, then you may also have a case. This is particularly true if you have asked the person who is giving you financial advice to explain the contract and they have continued to mislead you. In this case, you should bring any contract that you have signed with you when talking to your attorney, basing your decision to go forward with a case or not off of the physical evidence that you have at hand.

Loss Of Assets

This is the most common reason to file a case. Many people entrust their money to companies or individuals who are in turn meant to invest it in profitable ideas. When the person does not do that, and instead loses your money, or invests it in ways that do not turn over the promised profits, you may be able to hold them accountable for those losses.

This falls under financial planning negligence because you are usually instructed or suggested an investment path that you must agree to. The fact that you are not directly controlling the investments does not matter, as you still consented to their general idea under the assumption that the financial planner was doing their due diligence.

There are a number of other financial situations where you would be able to file a claim for financial negligence and that could affect your life. This could be anything from not telling you about risks to recommending products that just don’t make sense with your personal history or goals in life. If you feel that you have been a victim of financial negligence, contacting Schreuders lawyers for a free consultation may get you back on track.