Are You Eligible To Make A Claim?
The law imposes upon professionals, such as lawyers, doctors or financial planners, a duty of care to ensure that they provide competent professional practice and representation to their clients. Such professionals are required to exercise all due care, skill and diligence in and about the performance of their obligations according to their retainer with the client or patient, as well as any other statutory duties imposed upon the professional.
Accountant negligence in NSW may occur where errors are made by an accountant in tax advice, financial reporting, compliance obligations, or audit functions, resulting in avoidable loss or liability for the client, all of which may constitute a breach of duty of care.
Regarding a professional negligence claim, there is the intrusion of the Civil Liability Act, 2002 to contend with. In order for a professional to be held liable in negligence by the court, it must be established that the professional did not act in accordance with peer professional opinion. It must be established that the conduct of the professional was contrary to peer professional opinion which resulted in injury, loss or damage being suffered by the client or patient.
Financial services negligence claims often require expert evidence to establish what competent professional practice was required by the individual at the relevant time and how that standard was breached. To ensure your claim is successful, it is highly advised that you seek out expert legal advice in relation to the provision of financial services from negligence lawyers in NSW, such as the experienced and thorough team at Brydens Lawyers.
Who Can Be Held Liable for Financial Negligence?
Depending on the circumstances, liability for financial negligence may attach to:
Financial advisors and planners
Accountants and auditors
Stockbrokers and investment advisers
Financial institutions or advisory firms
Other professionals providing financial or investment advice
A professional negligence lawyer in Sydney can assist in identifying the appropriate defendant and assessing whether a breach of duty has occurred.
Common Examples of Financial Negligence Claims
Financial negligence claims may arise from a range of conduct, including:
Poor or inappropriate investment recommendations
Misleading, incomplete, or incorrect financial advice
Failure to disclose risks associated with investments
Failure to act in the client’s best interests
Errors in tax, accounting, or compliance advice
Financial mismanagement resulting in avoidable loss
Where such conduct results in an investment loss or other financial damage, an investment loss claim lawyer may be able to assist in pursuing compensation.
What Kind Of Professional Negligence Compensation Are You Able To Claim?
When considering the question of damages, the court seeks to place the person in the position they would have been in had the negligence not occurred. If you are eligible to make a professional negligence claim, (for example, against your former solicitor for failing to bring proceedings within the limitations period) you may be able to recover the value of the damages with respect to the original cause of action lost by the solicitor’s negligence, which would include:
Non-economic loss (pain and suffering) if you have suffered a permanent injury or disability as a result of the negligence.
Past and future treatment expenses (if applicable).
Past and future wage loss (if applicable).
Past and future superannuation entitlements (if applicable).
Past and future domestic assistance (if applicable).
In financial negligence claims, compensation may also include financial loss, interest, loss of opportunity as well as any other damages or losses flowing from the negligent financial advice or mismanagement. Compensation for financial negligence is assessed having regard to many factors including foreseeability, and the extent to which the loss is attributable to the breach of duty.
How to Prove Financial Negligence
To succeed in a financial negligence claim, it must generally be established that:
The financial professional owed you a duty of care
That duty was breached
You suffered financial loss
The breach caused or materially contributed to that loss
Evidence may include written advice, financial statements, disclosure documents, correspondence, transaction records, and expert reports addressing breach of duty and causation.
When Should You Seek Legal Advice Or Consult A Lawyer About Making A Claim?
There are strict time limits in bringing a professional negligence claim which requires court proceedings to be commenced within 6 years of the act of negligence, being the limitations period.
It is important to obtain experienced and professional negligence lawyers, such as those at Brydens Lawyers, at the first available opportunity. This will enable your legal team to provide you with advice on the prospects of pursuing a successful professional negligence claim and appropriately prepare your claim well before the limitation date. Consulting a professional negligence lawyer is vital, especially when considering legal costs and the complexities of claiming compensation in a professional negligence claim.
What Is Your Next Step In Making A Professional Negligence Claim?
For personalised guidance, it is advisable to seek independent legal advice to navigate the process of how to claim compensation. Our team of experienced professional negligence lawyers are ready to speak with you to discuss your enquiry, establish whether a claim may be available and advise on the best course of action to maximise your return whilst minimising your risk. If you believe you may have a claim, speaking with a financial negligence lawyer in NSW can help clarify your rights and available remedies.
Why Are Brydens Lawyers The Right Professional Negligence Lawyers And Representation For You?
Brydens Lawyers has over 50 years been prosecuting professional negligence claims to ensure that their clients receive the compensation to which they are entitled. It is that experience and commitment which sees Brydens’ clients obtain the maximum compensation in their professional negligence claims. For over 50 years, Brydens Lawyers has been prosecuting professional negligence claims involving accountant, financial advisor negligence, and claims arising from mismanagement of investments or poor financial counsel.
Professional Negligence Success Stories:
Over the last 50 years, Brydens Lawyers have successfully prosecuted a large number of professional negligence claims which have included:
Acting for client’s injured in motor accident and workplace injury claims who have received negligent advice from their former lawyers.
Acting for clients who have been negligently treated by doctors and other health professionals.
Acting for client’s who have received negligent advice from accountants, builders and architects which has resulted in significant loss and damage.
Contact Our Team
Speak to our professional negligence lawyers for a free initial consultation. Contact Brydens Lawyers today or call 1800 848 848 to discuss your financial negligence claim and explore your options for recovering compensation.
