We specialise in helping victims of financial loss claim the compensation they deserve.9
What is financial loss?
Financial loss is when you lose money through the fault of another party, whether by means of their poor advice or financial malpractice. Examples of financial loss include:
- Losing capital investment
- Receiving a lower return on your investment than you would have had another suitable product, such as a savings or deposit account, been recommended.
If you think that you’ve fallen victim, our team of experienced solicitors can help you win the financial compensation you deserve.
What types of financial claims are available?
At The Compensation Experts, we have years of experience of winning complex financial compensation cases. If you have fallen victim to a mis-sold investment or rogue pension scheme, we can help you claim damages.
A mis-sold investment is the deliberate or reckless sale of an investment, where the reality of the risk was misrepresented or the provider knew it was unsuitable for your portfolio. Common mis-sellings include:
- Stocks and Share ISAs
- Investment Bonds and With Profit Bonds
- Personal Equity Plans
- Open Ended Investment Companies
- Asset Classes
If you were advised to put your money into a particular pension scheme, on the promise of a more comfortable retirement, and have since lost your investment, you may be able to claim financial compensation. Examples of mis-sold pensions include:
- Self-Invested Personal Pensions (SIPPs)
- Defined benefit/final salary
- Defined contribution
- Small Self-Administered Scheme (SSAS)
- Free-Standing Additional Voluntary Contributions (FSAVCs)
If you were offered advice on investing in a pension scheme without being told of the true risk involved, our solicitors can help you win the financial compensation you deserve.
How to make a claim for financial compensation
If you’re a victim of financial malpractice, we can help. Start your claim for financial services compensation by getting in touch with our team of expert advisors, who will discuss your case and determine your eligibility.
If your claim does warrant investigation, we will begin to gather information from the relevant investment providers, to assess both the extent of your financial loss and the quality of advice you were dealt at the point of sale.
After conducting our initial research, we will write a bespoke letter of complaint which will be sent on your behalf to the trading business (or Financial Services Compensation Scheme, if they’re no longer active). At this point, your case will follow one of two avenues:
- Your complaint will be upheld and you will receive the compensation you deserve for your damages and financial loss.
- Your complaint will be refuted, and we will advise you on the next steps and how we plan to escalate the case according to Financial Ombudsman compensation guidelines.
Your dedicated financial loss solicitor will keep you informed at every point of your claim.
Do I need to provide evidence for financial compensation?
Typically, we don’t require any specific evidence to make a claim for financial loss. However, if you do have access to the paperwork that demonstrates your mis-sold investment or pension, this will help speed up the process in many ways.
In some cases, though, the negligent party will request proof of identity and address to allow us access to the relevant information in their files.
Claiming on behalf of the deceased
If you are claiming compensation for loss of earnings on behalf of someone who has sadly passed away, you may need to provide documentation that proves you are the executor of their will. For example, a copy of the Grant of Probate and a death certificate. If there are any obstacles that arise, we’ll guide you through the process step-by-step.
What is the Financial Services Compensation scheme?
The Financial Services Compensation Scheme (FSCS) is the UK’s statutory insurance body that protects consumers when firms and businesses fail to pay damages for financial malpractice. This is often because the trading firm has gone out of business. In these cases, the FSCS will step in to pay the compensation you are owed.
How much financial compensation can I claim?
Throughout your case, your lawyer will keep you updated with how much they expect you to be able to claim. However, to give you an estimate, financial compensation is calculated as follows:
(Lost capital + Interest) / (Return you would have received had the correct recommendation been issued + Interest you have so far lost on the compensation figure)
This might look complicated, but, in simple terms, it means you’ll receive your investment back in full. However, this only applies when claiming from the firm responsible. If the responsible party is no longer trading, you will have to claim from the Financial Services Compensation Scheme, which has a financial compensation limit of £85,000 per individual.
Am I eligible?
If you have suffered from financial loss as a result of malpractice, you may be eligible for compensation for loss of earnings. You will typically have three years to make a claim, and the earlier you open your case the more likely you are to win.Find out more
How much could I claim?
The amount of financial compensation you can claim depends on the extent of your lost earnings. There’s no cap to what you can claim from the negligent firm, but there is a financial compensation limit when going through the Financial Services Compensation Scheme. Our dedicated team of experts will give you an indication of how much you could potentially claim for.Find out more
How does the process work?
When claiming financial compensation, it’s important that you know what the process involves. That’s why we make each case as transparent & clear as possible.
Your solicitor will gather all the evidence related to your claim and notify the negligent party that you wish to begin proceedings. Negotiating on your behalf, your lawyer will keep you up to date every step of the way.