Examples of Financial Negligence

Did you lose your money because of your advisor or accountant’s (or someone else related to your financial matters) negligence? Remember it falls under financial negligence and you can file a case against the person for misleading you in your financial matters. Financial negligence could be of various kinds and it is sometimes hard to prove because financial matters are hard to deal with. How could your advisor advise you about something even he/she did not know about? Could you prove a case against him for financial negligence in such a scenario? These are questions that require the experts’ eye and a professional solicitor’s attention. Here, we give a few examples of financial negligence that could help you understand what it is about.

Bad Financial Advice by your Advisor

Suppose you have a financial advisor who advises you on all your financial investments and decisions. And because of his advice, you end up losing a lot of your money. You feel that it was negligence on part of your advisor. You should immediately contact a professional lawyer and explain the situation to him and consult him before taking any further action. The actions of your financial adviser could be challenged and questioned and if he or she is proven guilty they could be made to pay for your loss.

 

Negligence by the Accountant

Similarly, another example of financial negligence could mistakes of your accountant. For example, your accountant might have failed to make your income statement properly. Or your accountant might have failed to add up your income properly because of which your taxes could have ended up to be different than what they actually would have been which could lead you to face some trouble. In such cases, the accountant can be held responsible and could be proven guilty and made to pay for your losses if you hire a professional and experienced solicitor to work on your case.

Misrepresentation of Financial facts

Similarly, when you are making an investment, it is important that you are provided with all the relevant facts and there is no misrepresentation in that. However, if your investment fails because of some misrepresentation of facts, you can take up the case against the responsible person. In such cases, it has to be proven that there was a misrepresentation of facts and it is because of that misrepresentation that you faced a loss in your investment. Proving the fact that the loss is a cause of misrepresentation is very important in such cases.

Negligence in Warning against an Investment’s Risks

Another example of financial negligence is the case when you are not told or warned about the risks of making an investment. This failure could happen from the company requesting your investment, your advisor or accountant or any other person in the chain. In such cases, if you lose your money, it is possible to hold the responsible people accountable and make them pay for the losses they made you suffer.