Financial Negligence Solicitors

Expert Financial Negligence Solicitors in Dublin

When you trust a financial advisor, investment manager, or financial institution with your hard-earned money, you expect competent, professional advice that protects your financial interests. Unfortunately, poor financial advice, mis-selling of products, and negligent investment management can result in devastating financial losses.

At Gary Matthews Solicitors, we specialize in financial negligence claims, helping clients recover losses caused by incompetent or unscrupulous financial advisors, investment managers, banks, and other financial professionals. We understand the complex regulations governing financial services and have the expertise to hold financial professionals accountable.

What Is Financial Negligence?

Financial negligence occurs when a financial professional or institution fails to meet the required standard of care when providing financial services, resulting in financial loss to the client. This can include:

• Providing unsuitable investment advice
• Failing to understand or consider your financial circumstances and objectives
• Mis-selling financial products
• Failing to diversify investments appropriately
• Not explaining risks adequately
• Breaching fiduciary duties
• Failing to monitor investments
• Excessive trading (churning) to generate commissions

Common Types of Financial Negligence Claims

Poor Investment Advice

Financial advisors must recommend investments suitable for your circumstances, risk tolerance, and objectives. Negligence occurs when:

• Advisors recommend high-risk investments to risk-averse clients
• Investments don't match your stated objectives or timeframe
• Your financial circumstances weren't properly assessed
• Risks weren't adequately explained
• Concentration in single assets or sectors without justification
• Recommending investments the advisor didn't fully understand

Pension Mis-Selling

Pension mis-selling is one of the most common forms of financial negligence:

• Pension transfer advice: Advising clients to transfer out of defined benefit (final salary) pensions without proper justification
• SIPP mis-selling: Recommending Self-Invested Personal Pensions (SIPPs) holding high-risk, illiquid, or inappropriate investments
• Unsuitable pension products: Recommending pension schemes with excessive fees or unsuitable investment strategies
• Early pension access schemes: Advising on pension liberation schemes resulting in tax penalties
• Occupational pension advice: Poor advice about workplace pension options

Investment Portfolio Mismanagement

• Failure to diversify: Concentrating investments in narrow sectors or single assets
• Unsuitable asset allocation: Portfolio composition not matching risk profile
• Excessive trading: Unnecessary transactions generating fees but not benefiting the client
• Failure to monitor: Not reviewing and rebalancing portfolios as markets change
• Unauthorized trading: Making investments without client authorization

Mortgage and Financial Product Mis-Selling

• Interest-only mortgages: Selling without adequate repayment strategy
• Endowment mortgages: Mis-selling policies that failed to repay mortgages
• Payment protection insurance (PPI): Mis-selling unsuitable or unnecessary insurance
• Equity release schemes: Inappropriate equity release advice
• Buy-to-let mortgages: Poor advice on investment property financing

Structured Product Mis-Selling

• Complex investment products sold without adequate explanation of risks
• Capital-at-risk products sold as safe investments
• Products with hidden charges and poor liquidity
• Structured products linked to failing banks or entities

Insurance and Investment Bond Mis-Selling

• Whole-of-life policies sold without proper need analysis
• Investment bonds with high charges and poor performance
• Offshore bonds creating unexpected tax liabilities
• Insurance products as inappropriate investment vehicles

Bank and Building Society Negligence

• Mis-selling interest rate hedging products (interest rate swaps)
• Unsuitable business banking products
• Negligent lending decisions
• Breach of mandate or unauthorized transactions
• Failing to honor guarantees or promises

Stockbroker Negligence

• Churning (excessive trading to generate commissions)
• Unauthorized trades
• Failure to execute orders
• Unsuitable investment recommendations
• Conflicts of interest not disclosed

Financial Regulations and Standards

Financial advisors and institutions in Ireland must comply with strict regulations:

Central Bank of Ireland Regulations

The Central Bank regulates financial services and sets standards for:

• Know Your Customer (KYC) requirements
• Suitability assessments
• Risk warnings and disclosures
• Best execution obligations
• Conflict of interest management

Fiduciary Duty

Many financial professionals owe fiduciary duties to clients, requiring them to:

• Act in the client's best interests at all times
• Avoid conflicts of interest
• Provide full disclosure of all material facts
• Exercise skill, care, and diligence

Compensation for Financial Negligence

In financial negligence claims, you can recover:

Investment Losses

• Loss of capital invested
• Loss of expected returns
• Difference between actual and appropriate investment performance

Consequential Losses

• Tax liabilities incurred due to poor advice
• Penalties for early withdrawal or unauthorized transactions
• Additional advisor fees to remedy the situation
• Lost opportunities from having capital tied up in poor investments

Interest and Inflation Adjustment

Compensation includes interest from the date of loss and adjustments for inflation, ensuring you're properly compensated for the time value of money.

Distress and Inconvenience

In appropriate cases, compensation for stress and inconvenience caused by the financial negligence.

The Financial Negligence Claims Process

Step 1: Initial Assessment

Contact us for a free consultation. We'll review your situation, the advice you received, and assess whether you have a claim for financial negligence.

Step 2: Gather Documentation

We'll help you collect all relevant documents:

• Financial advisor correspondence and statements
• Investment recommendations and suitability reports
• Risk questionnaires and client agreements
• Investment performance reports and valuations
• Pension transfer analysis reports
• Product literature and key features documents

Step 3: Expert Review

We'll instruct independent financial experts to review your case and provide opinions on:

• Whether the advice was suitable given your circumstances
• Whether regulatory requirements were met
• What advice should have been provided
• The extent of your financial losses
• What investment performance you should have achieved

Step 4: Complaint to Financial Services

In many cases, we'll first make a formal complaint to:

• The financial advisor or institution directly
• The Financial Services and Pensions Ombudsman (if appropriate)

This can lead to compensation without court proceedings.

Step 5: Letter of Claim

If complaints don't resolve the matter, we'll send a formal letter of claim outlining the negligence and your losses.

Step 6: Negotiation and Settlement

We'll negotiate with the advisor's professional indemnity insurers to secure fair compensation.

Step 7: Court Proceedings (if necessary)

If negotiations fail, we're prepared to issue proceedings and take your case to court.

Proving Financial Negligence

To succeed in a financial negligence claim, we must prove:

1. Duty of Care

The advisor owed you a duty of care (usually through a client-advisor relationship).

2. Breach of Duty

The advice or service fell below the standard expected of a competent financial professional, including:

• Failing to properly assess your circumstances
• Not conducting adequate risk assessment
• Providing unsuitable recommendations
• Failing to adequately explain risks
• Not following regulatory requirements

3. Causation

The breach directly caused your financial losses—you must show you would not have suffered the loss if proper advice had been given.

4. Loss

You suffered actual, quantifiable financial loss as a result.

Defenses Used by Financial Advisors

Financial advisors may attempt to defend claims by arguing:

• "You wanted high-risk investments": Claiming you sought risky strategies despite their advice
• "Market forces caused the losses": Blaming general market conditions rather than poor advice
• "You didn't provide full information": Suggesting you withheld relevant financial details
• "Risks were explained": Claiming risk disclosures were adequate (even if they weren't)
• "You signed documentation": Relying on signed risk warnings or agreements

We know how to counter these defenses with expert evidence and thorough case preparation.

Why Choose Gary Matthews Solicitors?

Financial Services Expertise

We have in-depth knowledge of financial regulations, investment products, and industry standards.

Access to Financial Experts

We work with independent financial consultants who provide expert evidence to prove negligence and quantify losses.

No Win, No Fee

Financial negligence claims can be expensive. We offer no-win, no-fee arrangements so you can pursue justice without financial risk.

Taking on Financial Institutions

Banks, investment firms, and advisory companies have significant resources. We have the expertise and resources to take them on.

Maximum Compensation

We fight to recover all your losses, including investment losses, consequential losses, and interest.

Clear Communication

Financial matters can be complex. We explain everything clearly and keep you informed throughout.

24/7 Availability

Contact us any time for advice on your financial negligence claim.

What to Do If You Suspect Financial Negligence

1. Stop following the advice: Don't make further investments based on suspect advice
2. Gather all documentation: Collect all statements, correspondence, and documents
3. Document your losses: Calculate how much you've lost
4. Note what you were told: Write down what advice you received and promises made
5. Don't sign anything new: Advisors may try to get you to sign away rights
6. Contact us immediately: Get expert legal advice as soon as possible
7. Consider making a complaint: We can help you complain to the Ombudsman or regulator

Frequently Asked Questions

What if my financial advisor has gone out of business?

Financial advisors must carry professional indemnity insurance that continues to cover claims even after they cease trading. We can pursue claims against their insurers.

Can I claim if I signed documents accepting the risks?

Yes. Signing risk warnings doesn't prevent a claim if the advice was unsuitable or risks weren't properly explained in context of your circumstances.

What if the advisor says market conditions caused my losses?

We'll obtain expert evidence showing whether appropriate investments would have performed better, proving the losses resulted from poor advice rather than just market conditions.

How much compensation can I expect?

Compensation aims to put you in the position you would have been in if you'd received proper advice. This includes recovering losses and interest.

What if I only lost part of my investment?

You can claim for partial losses. If you've suffered any financial loss due to negligent advice, you have a valid claim.

Can I still use my current financial advisor while making a claim?

We generally advise clients to seek independent financial advice once a claim is being pursued to avoid conflicts of interest.