If you have received unsatisfactory investment advice, you should consult a solicitor as soon as you suspect that you have been negligently advised. Failure to do so can lead to the loss of your right to claim.



Recently, a couple left it too late to sue after their disastrous foray into the financial markets cost them much of their nest egg.



On the advice of their bank, the couple had invested more than £200,000 in 2004. Claiming to be risk averse, they said that preservation of their capital was their top priority and that they were not interested in any ‘risky’ products. However, even before the banking crash in 2008, their investments had lost more than £70,000.



The couple launched proceedings against the bank in 2013, well outside the six-year statutory time limit which normally applies to such cases. They nevertheless argued that the deadline should be extended because they had not realised until long after the event that the investment advice they received had been negligent.



In striking out that part of the couple’s claim which related to the advice given in 2004, the Court found that a letter from the bank had clearly mapped out the risks and likely returns of the investments. In particular, the letter made plain that almost half of the couple’s money would be invested in a ‘medium risk’ commercial property bond. Had they been as risk averse as they claimed to be, the letter ‘should surely have rung alarm bells’ and they could have been expected to launch proceedings much earlier than they did.


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