Financial Advice Disputes

Whether you've received negligent financial planning advice, risky stock trading advice, or questionable self-managed super fund recommendations, we are here to support your claim.

Financial Advice Disputes

We assist people with their financial recovery after receiving poor financial advice from a financial adviser.

There are many types of financial recovery, including superannuation loss recovery, derivative investment loss recovery, and insurance investment loss recovery. We assist our clients through this process to help recover compensation.

The law recognises that professionals, like financial advisers, can sometimes provide poor or negligent advice. If you’ve lost money because your adviser gave you advice that was not suitable, or did not act in your best interests, you may be able to receive compensation for your losses.

Types of disputes

CFD trading disputes

CFD trading disputes often stem from misleading broker information, platform issues, or unexpected market challenges. If you've faced issues with CFD trades, reach out to Financial Dispute Legal to discuss a potential claim.

Negligent financial planning advice

Each financial advice dispute is distinct, yet certain patterns suggest possible claims. If you've encountered unclear fees, misaligned investment promises, or feel your advisor didn't prioritise your needs, contact Financial Dispute Legal for expert guidance.

Negligent Self Managed Super Fund advice

Self Managed Super Funds (SMSF) are not for everyone and if you've received financial advice from an advisor that ended in loss, you could be entitled to compensation. This includes everything from risky investments, to borrowing to purchase property and all the associated costs in between.

Negligent TPD and income protection advice

Negligent TPD and income protection advice can lead to direct consequences like unsuitable coverage or financial loss. If you suspect you've received misguided counsel on these policies, contact Financial Dispute Legal to explore a potential claim.

Risky stock trading advice

From trading Contracts For Difference (CFD's) to Crypto Currencies, if your advisor has advised you to invest in a product that's led to a significant loss without adequately disclosing risk or advised an inappropriate investment for your situation, you may have a case. Speak to our team today to discuss your options.

Frequently Asked Questions

Can I sue my financial advisor?

You may be entitled to claim compensation for economic losses due to financial advice received by financial advisors, planners and brokers. You may have a successful claim against your financial adviser or their company if you can show the following:

  • Your financial advisor did not comply with the standard practice or with the guidelines set out by ASIC Act and the Corporations Act.
  • Your financial advisor acted negligently, breaching their duty of care.
  • The financial advisor’s actions or advice caused you to suffer a financial loss.
  • The financial advisor engaged in misleading and/or deceptive conduct.
When can I sue my financial advisor for negligence?

Not all financial advice that results in monetary loss is caused by financial negligence. The basis for a claim is dependent on your individual circumstances, the type of financial advice requested, the information provided, the advice provided by the financial advisor as well as whether this is reasonable advice. Common examples of financial negligence can be as follows

  • Recommending a high-risk investment without explaining the risks.
  • Advising you to take out a loan for an investment that you could not afford.
  • Failure to monitor your investments.
  • Failing to assess your current circumstances, financial needs, objectives and risk tolerance.
  • Not providing the relevant documents required when providing financial advice, including a Financial Services Guide, Product Disclosure Statement, and Statements of Advice.
  • Changing and “churning” investment strategies too frequently.
  • Failing to explain the potential risks if the market were to fall.
  • Proceeding with investments when the risks are not fully explained or understood.
  • Recommending an investment strategy that lacks diversification and therefore increased risk.
What legal action can I take against my financial advisor?

Before initiating a financial negligence claim, you can lodge a complaint against your financial advisor through the company’s internal dispute resolution services. The company must acknowledge your dispute within 14 days and respond within 45 days. You can still speak to a representative from Financial Dispute Legal during this process to determine the best course of action to undertake in the future.

If you are unsatisfied with the company’s resolution, you can contact the Australian Financial Complaints Authority (AFCA). There is a compensatory limit, you can also lodge complaint with the court when lodging disputes through AFCA. Complaints can be made to AFCA online via their website or by calling the AFCA on 1800 931 678 (free call).

You can also look to commence a claim in the Court. It is however recommended that you obtain legal advice before you commence a claim in the Court to help ensure this is a suitable option for your circumstances.

How much compensation can I receive from suing my financial advisor?

The amount of compensation you are entitled to claim will be based on a case-by-case basis. Generally speaking, a successful claim may result in compensation roughly equal to the financial losses you have suffered plus any loss of opportunity to make an alternative investment. This may also include any lost profits or expenses which have occurred in the claims process.

Is there a time limit for making a claim?

Generally, a claim must be made within 6 years of when the financial loss occurred. Extensions can be granted by the courts, however, this is solely at the court’s discretion. We recommend contacting the team at Financial Dispute Legal as soon as possible to discuss your legal options and time limits.

How much will it cost to make a financial negligence claim?

Financial Dispute Legal offers potential clients a free consultation session in order for us to develop an understanding of your case and individual circumstances. We represent you on a “no win, no fee” (subject to our terms and conditions). We are able to provide client fee estimates before initiating the claim and update these estimates at any stage of the claim.

Why should I choose Financial Dispute Legal to represent me?

At Financial Dispute Legal, our team of experts are specialists in the field of compensation claims against financial advisors. We aim to help you understand your legal rights and options in recovering your losses. Our passion at Financial Dispute Legal is utilising our expert knowledge and experience to develop a case that best supports the client’s claim.

What is the AFCA?

The AFCA is a non-government organisation that provides free, fair and independent services to consumers and small businesses to mediate and resolve financial disputes. This organisation encompasses the Financial Ombudsman Service (FOS), the Credit and Investments Ombudsman (CIO) and Superannuation Complaints Tribunal (SCT).

The AFCA implements decisions that are binding on financial firms, this can include the compensation of losses due to a financial firm’s error or inappropriate conduct, visit the AFCA page for more information.

Whilst you do not require legal representation to pursue an AFCA complaint, it may however be helpful to obtain assistance from Financial Dispute Legal to help to make sure your claim is presented and pursued appropriately.

How long will a financial negligence claim take to finalise?

Each case is different and the complexity and extent of the loss need to be thoroughly examined. Generally speaking, most claims will be finalised within two years, although this can occur sooner if a settlement is reached.

Why should I seek legal aid for a financial negligence claim?

The process of initiating and pursuing a financial negligence claim is difficult, tiresome and time-consuming. Pursuing legal action without sufficient knowledge of the legal system and its complexities can be highly stressful. By allowing Financial Dispute Legal to represent your case, you will ensure that you have a complete understanding of your current situation and the best possible chance of claiming compensation.

Not sure if you have a claim?

Financial dispute claims can be complex and often leave you wondering whether you have a claim or not. Book an obligation free call to tell us about your story so we can provide you with the best advice on your next steps.


Recent Cases

Recovered compensation against client's financial advisor who inappropriately recommended that they set up a Self Managed Superannuation Fund and invest into property.
Acted on behalf of an elderly client who had been the victim of a scam.
Recovered a client’s TPD payment from their former financial advisor who allowed the client’s TPD insurance policy to lapse and failed to reinstate before the client had a TPD event.
Assisted a client to achieve an out of court settlement against a financial advisor who failed to provide advice to a client to take out TPD insurance.
Successful in recovering over $600,000 for a client who had invested in CFD Trading.
Represented multiple clients through a complaint process with a financial firm who complained that their financial advisor misrepresented the risks involved in investing in shares for an overseas company.
Won significant compensation for client who lost money in SMSF due to negligent financial advice.

Fee Structures

Our fee structures have been developed to provide you with accessible legal support and to ensure we can get the best outcome for you.

We understand the importance that transparency plays in trust, so we make sure to discuss fees up-front.

No-Win-No- Fee

For certain Financial Advice Dispute cases we provide no-win-no-fee. You will be advised after your initial consultation and assessment if this applies to you.

Fixed  Fee

Where possible, our team will provide you with a fixed fee amount for each stage of your claim. This fee is billable regardless of the outcome of your case.

Hourly Rate

If your claim requires a hourly fee structure, we will advise you of cost estimations at every step of your claim to ensure you have control over costs at all times.

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Step 1: Contact us for a free consultation

Our lawyers will prompt you to gather all the preliminary information we require in order to advise whether you may have a claim, this can be as quick as a 15 minute call.

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Step 2: Further evaluation & assesment, at no cost

If we identify the opportunity for a claim in our initial call we will then proceed with a comprehensive assessment into your case, including gathering witness statements, identifying and locating key documentary evidence, and consulting with experts.

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Step 3: Free recommendations, next steps & fee advice

Based on our findings we will offer recommendations on the appropriate legal action to pursue your claim, and clearly explain your next steps.

At this point of engaging us, we will advise you on the fee structure involved in your claim so you are aware of costs involved before proceeding.

Contact us

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Level 2, 167 Eagle Street
Brisbane Qld 4000