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Who can make a financial advice disputes claim?

If you've been given investment or insurance advice from a Financial Planner, Advisor or Broker that you feel is wrong, you may be able to claim compensation.

We have helped hundreds of people reclaim losses when they have received inappropriate, misleading or negligent advice. 

How do I know if I have a financial advice disputes claim?

Generally, if it sounds too good to be true, it probably is. Common features of poor financial advice include:

Investment advice

  • High growth or short term investment strategies
  • Lack of diversification (putting all your eggs in one basket)
  • Borrowing to invest (especially margin lending)
  • Purchasing land or property through a self-managed super fund
  • Options trading
  • Failure to ensure the advice is in your best interests, and that you understand the advice
  • Failure to consider alternative strategies that carry less risk but still achieve your goals
  • Failure to provide a clear and compliant Statement of Advice setting out the strategy and why 

Insurance advice

  • Failure to ensure the advice is in your best interests, and that you understand the advice
  • Failure to provide a clear and compliant Statement of Advice setting out the strategy and why it is in your best interest compared to other options
  • "Cross selling" by recommending a financial product (like life insurance) that the advisor has a financial interest in (for example where they receive a commission from the owner of the product they are selling you).
  • Churning (switching) you from one product to another without warning of the risks. 
  • Underinsurance – where your level and types of insurance are insufficient
  • Non-standard insurance terms and conditions such as exclusion clauses for mental health claims 
  • Your insurance claim was declined by the insurer for non-disclosure or misrepresentation.

If any of these have happened to you, or your investments have lost money or you feel uncomfortable with your investment strategy, you may have a claim. 

What are the options for making a financial advice disputes claim?

There are a few options available to you, including a formal complaint to the financial provider, seeking compensation through an industry scheme or by taking legal action through the courts. There are advantages and disadvantages for each option, depending on your situation. Our expert team have helped hundreds of Australians with claims, and will work with you to decide the best course of action for you and your family. 

Are there time limits for making a financial advice disputes claim?

There are time limits that apply to claims, but they can differ depending on your situation and the type of advice or financial product you received. Our team can advise you on a course of action for you to get the best outcome. 
 

Do I need a lawyer for a financial advice disputes claim?

Taking on financial providers, especially large institutions like banks, can feel overwhelming. Our expert lawyers understand how the compensation schemes and laws work regarding financial advice, and the tactics that can be used by the industry to avoid paying. 

You're not alone. Our expert team are by your side to help you understand what options are available to you and will work with you to achieve the best possible outcome.

Process for making a financial advice disputes claim

Contact us as soon as you think you have a financial advice disputes claim. Our experienced lawyers will work with you to advise on the best option. 

We'll keep you informed throughout the claim process and provide you with expert advice that is easy to understand.


01

One of our expert lawyers will meet with you and go over the details of your situation situation to assess whether you have a financial advice disputes claim. 

02

If appropriate, we will file a formal complaint against your financial provider (sometimes this is an institution, like a bank)

03

If their response isn't satisfactory, we'll advise you about taking legal action through the courts, or relevant complaints scheme. 


We're here to help when you need us most.

Call us on 1800 991 692, or leave us a message below to request a call back and one of our team will be in touch as soon as we can.