Page 45 - Hunstanton Town & Around - October 2014

Tel: 01485 533422 email: editor@townandaround.net Hunstanton Town & Around October 2014 45
Financial Advisors: Who to trust?

Written by Helen Batten CommiƩĞd
Solicitor at Hayes + Storr
At Hayes + Storr, we are increasingly
being contacted by clients for legal toyou!
advice in relation to loss of confidence Solicitors
in their financial advisors. As in all
professions, including the legal sector, ,ĂLJĞƐ + Storr SolicitoƌƐ arĞ & Notaries
there are good and bad people, but what an ĞƐƚĂďůŝƐŚĞĚ and ƌĞůŝĂďůĞ
should clients do when they believe the Įrm of ƐŽůŝĐŝƚŽƌƐ and notariĞƐ
advice given is inadequate, not tailored in Norfolk.
to their circumstances or just plain Ɛ ǁĞ opĞƌĂƚĞ in NortŚ and
wrong?
Complaint to Financial Conduct tĞƐƚ Norfolk our ŽǀĞƌŚĞĂĚƐ arĞ
Authority ůŽǁĞƌ ƚŚĂŶ City ĮƌŵƐ͕ ƐŽ ƚŚĂƚ
Firms and individuals can only conduct regulated financial activities in wŚŝůƐƚ ǁĞ ĂƌĞ aďůĞ to providĞ
the UK if they are registered or authorised by the Financial Conduct ƚŚĞ ŚiŐŚ ůĞǀĞl of ƐĞƌǀŝĐĞ and
Authority (FCA) to do so. When engaging a financial advisor, always check ĞdžpĞƌƟƐĞ you ĞdžpĞĐƚ͕ ǁĞ can
their status in the FCA register, which can be found on the organisation’s do ƐŽ at ǀĞƌLJ compĞƟƟǀĞ ƌĂƚĞƐ.
website.
If you have already engaged a financial advisor regulated by the FCA Please contact:
and are unhappy with their conduct or services, then the FCA provides a Hunstanton - 01485 524166
service resolving disputes. You may wish to engage a solicitor to assist you King’s Lynn - 01553 778900
in bringing your complaint to the attention of the FCA. The first step is to Fakenham - 01328 863231
put your complaint in writing to the financial advisor concerned and ask
for the matter to be investigated and for a written response. The financial Sheringham - 01263 825959
advisor will have a maximum time period of 8 weeks to respond. If not Holt - 01263 712835
response is received or you are unhappy with the response, you can then Wells - 01328 710210
contact the Financial Ombudsman Service (FOS) for investigate the
complaint on your behalf. ůĂǁΛŚĂLJĞƐͲƐtorr.com | ǁǁǁ͘ŚĂLJĞƐĂŶdƐƚŽƌƌ͘ĐŽ͘ƵŬ
A complaint to the FOS is a free and independent service that aims to
resolve disputes between clients and their financial advisors, but it is not
suitable for every case. If you and your solicitor decide to make a complaint,
the FOS will consider its content and ask the financial advisor for their
version of events before making a decision. However, you should be aware
that the parties do not have to accept the decision made by the FOS. GAS & OIL BOILER SERVICING
Depending on the circumstances of the complaint, it may be more by Gas Safe, Oftec and Corgi Registered Engineers
appropriate to make a civil claim in the County Court to recover your losses. Also general plumbing works carried out.
Negligence Claims in the County Court All the above carried out by our own local, experienced,
A claim to the County Court is likely to be made on the basis of a friendly staff. Excellent service promised to all our customers.
financial advisor negligently advising a client to make an unsuitable Competitive Prices. Call for information or to book appointment.
investment, which has caused loss. The Court will consider whether the
advice given by the financial advisor was negligent based on a strict legal George Edwards Road, Industrial Estate, Fakenham NR21 8NL
test. The Court will want to ensure that the loss caused to the client was Tel: 01328 862189 Fax 01328 856760
directly attributable to the poor advice given. The Court, with assistance
from experts, will then calculate the value of the loss suffered. The aim is VAT Reg. No. 304 7300 02 Company Reg. No. 3205379
to put the client back in the situation they would have been in had the poor
advice not been given.
The solicitors at Hayes + Storr are available to provide advice on the
conduct of financial advisors and where their advice may give rise to either
a complaint or a County Court claim. Discussing the matter with our legal
professionals often assists in clarifying your concerns and working out a
plan of action going forward.
“This article aims to supply general information, but it is not intended to constitute
advice. Every effort is made to ensure that the law referred to is correct at the date
of publication and to avoid any statement which may mislead. However no duty of
care is assumed to any person and no liability is accepted for any omission or
inaccuracy. Always seek our specific advice.”
If you require advice on this matter please contact our Litigation Team
here at Hayes + Storr on 01485 524166. If you require advice on any
other legal matter please telephone our Hunstanton office or email
law@hayes-storr.com.