Can I sue my IFA?

Your independent financial advisor (IFA) needs to have taken account of all suitable products on the market at the time you were advised. If you believe your financial advisor has been negligent, you may be entitled to compensation.

Can you claim against a financial advisor?

How to claim against a financial adviser. Depending on your personal circumstances and the extent of the loss you have suffered, you may be entitled to make a complaint to the Financial Ombudsman Service (FOS).

How do IFA make money?

How much does a financial adviser cost? For years, IFAs were paid in one of two ways – either by fees (you paid upfront) or commission (they took an ongoing cut, which varied per product). Instead, they must charge a fee they agree with you.

What qualifications does an IFA need?

In order to become an IFA, you first need to complete a Level 4 Diploma for Financial Advisers (DipFA). This qualification is made up of two units, with the first being based on financial services regulation ethics and the second focusing on advanced financial advice.

Can you get sued for a free service?

Terms of Service While business owners are free to file a lawsuit when free services go dark and cause them problems, they likely wouldn’t win. This is because the vast majority of companies that offer free services include terms shielding themselves from liability for a failure in service.

What does IFA stand for in South Africa?

IFA is the network marketing division of Clientèle Life, one of the most trusted and respected names in the South African financial services sector. Through this unique network marketing business opportunity you, as an IFA, have the opportunity to take care of your family’s future with a Clientèle product while earning an additional income …

What to do if you are suing an IFA?

There are many funding options available depending on your claim including ‘no win, no fee’ or other conditional fee agreements. You may also have legal expenses covered on some of your insurance policies that you may not be aware of; it is often listed as Family Legal Protection.

What can I do with an IFA business opportunity?

Through this unique network marketing business opportunity you, as an IFA, have the opportunity to take care of your family’s future with a Clientèle product while earning an additional income, and helping others to do the same. The plan is simple!

How long has IFA been in the industry?

You will start to earn if the people you invite also decide to become IFAs and apply for a Clientèle product or an IFA Rewards product for which they pay for every month. IFA has been in the financial services industry for over 22 years and has paid out over R2 Billion in earnings.

When to sue IFA-Wright Hassall for negligence?

If the negligence doesn’t immediately come to light or is not evident until later it may still be possible to claim that the time period can start from 3 years from the “date of knowledge” of the negligent act.

What to do if you have a claim against a financial adviser?

If you feel you have a claim against your financial adviser, it is important you seek expert legal advice from an experienced negligence solicitor. It is important that solicitor is familiar with both claims in negligence and the financial product you are complaining about.

Can a financial adviser be sued by HMRC?

This is currently a real issue in relation to financial adviser claims and we are acting on many claims arising out of APNs. Under the Finance Act 2014, HMRC can now demand payment on account of a tax advantage received from participating in a tax avoidance scheme.