CFD mis-selling

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  • Have you suffered financial loss after being advised to invest money or transfer a pension fund into Contracts For Difference (CFD’s)?
  • Do you feel that the level of risk involved with Contract For Difference (CFD) trading was not adequately explained to you and was unsuitable for your circumstances?
  • Do you feel you were misadvised or misinformed on CFD investments and that you have incurred financial losses as a result?

If any of these apply to you, then you may have grounds for bringing a No Win No Fee claim. Please call Neglect Assist for free, no obligation advice on 0800 152 2620 or fill in the form and we’ll call you back.

I have been very impressed with the courtesy I have received, telephone calls have been made in a professional way and I am in awe at the manner that all documents have been produced. I was given your advertisement by a friend from one of the national newspapers and I am so grateful that he did. Mrs Holland

Who Are We?

We are an award-winning team of solicitors who specialise in professional negligence and financial mis-selling claims. We use our many years of experience and knowledge in this area to obtain and scrutinize relevant documents from financial advisers, stockbrokers, CFD providers and other associated entities.  Using our specialist knowledge of the law of contract and negligence we identify any grounds for action. We submit written complaints, detailing every allegation and are successful in most of our cases.

How Much Am I Entitled To?

If you can successfully show that you have suffered financial loss due to the negligent advice or actions of a financial adviser, stockbroker, CFD provider or other connected party you can seek to claim compensation for the full losses sustained, plus interest.

The amount awarded should put you in the position that you would have been in had no wrong been done.

The extent of a potential claim is highlighted by our following ongoing claim;

Mr and Mrs L
received
£47,000

Mr and Mrs L were both retired and decided to sell their home and move into rented sheltered accommodation. They had around £100,000 capital following the sale of their property and received enough of a monthly income from their pensions to meet immediate rent payments and other bills. They intended to use their capital to fund futur

What Do We Charge?

We offer an absolute and guaranteed No Win, No Fee agreement, it’s that simple. If successful, we take a fee of up to 20% (plus 4% VAT) * Of the award of compensation. If unsuccessful, our clients pay us nothing.

* We reserve the right to apply a deduction in more complex or higher risk cases of up to 30% plus VAT. Typical examples might be where there are multiple parties to claim against, where time limits for claiming may have passed or new areas of law are tested.

About Contract For Difference (CFD) Investment Claims

Contract For Difference (CFD) investments are a form of derivative trading. They are complex products which come with a significant element of risk. As such, they are not usually suitable for inexperienced investors or those who require a low risk investment option.

In its basic form, a CFD is a short term agreement between two parties to exchange the difference in value of an asset from the contract start date through to a closing date. They are used to speculate on the future movement of market prices. The investor is effectively making a bet on whether a particular investment or asset (such as share or currency prices) will go up or down over a set period of time.

With a CFD, the investor never owns a particular share or asset. A benefit is obtained if the market moves in their favour. It is the performance of the market which will govern whether a profit or loss is made and the extent of this.

It is of vital importance to realise that if the market moves in the opposite direction to the investor’s bet then that person can lose significantly more than their initial outlay.

Due to their high risk and complex nature, CFD’s are not a suitable method of investment for anyone who requires a product which provides capital security such as retirees or others who require a secure income from their pension or savings. In some countries, such as Belgium, their use has been banned entirely.

They are generally only suitable for sophisticated investors or those who are in a position to risk capital and who have been advised on, and appreciate, the true level of risk involved.

If a financial adviser, stockbroker or CFD provider recommends using CFD investments where this does not apply, there may be grounds for bringing a claim for professional negligence if financial loss is then suffered.

The Financial Conduct Authority (FCA), who regulate the financial services industry, have identified that financial advisers and other connected parties do not always assess the appropriateness of CFD trading for prospective clients. They recently commented;

Firms may not be acting in the best interests of their clients and treating them fairly……we are concerned that there is a high risk that CFD providers industry-wide are not meeting the requirements of the rules when taking on new clients

When this occurs, there could be a breach of the professional duty of care owed by the financial adviser, stockbroker or CFD provider to their clients. If you have lost money as a result of CFD trading and feel that;

  • the investment was inappropriate for your circumstances or
  • the level of risk was not adequately explained or
  • you did not fully understand how CFD trading worked

then we may be able to assist you in making a no win, no fee claim to recover your losses.

Please call us on 0800 152 2620 for further information and without obligation advice.

Call 0800 152 2620 or fill in the form today for FREE NO OBLIGATION ADVICE

Impact on pension funds

Particular problems can arise if a pension fund is invested into Contracts For Difference (CFD’s). This can expose an individual’s entire retirement savings to volatility and risk. The impact upon the pension fund can be devastating and there are several instances where people have lost vast sums of money due to pensions being invested in this manner.

The majority of people require their pension fund to be invested in regulated and secure asset classes as they will be dependent upon their pension monies to provide security during retirement years. In such situations, the use of CFD’s is wholly unsuitable.

If you have been advised to transfer or invest a pension fund into CFD’s and have suffered financial loss as a result, you have possible grounds for bringing a no win, no fee claim.

If you are affected by this, please call us on 0800 152 2620 for free, without obligation advice on your legal options.

FAQs

What is a Contract For Difference / CFD Investment?

These are complex products and are a form of derivative trading. In essence, the investor is making a bet upon how certain market values will move. The investor never owns the share or asset class. A profit or loss is made depending upon how market prices vary or move over a set period of time.

CFD trading is a speculative form of investment and comes with considerable levels of risk. It is possible for investors to lose more than the original amount invested.

 

How do I know if I was mis-sold or mis-advised on CFD’s?

This will largely depend upon individual circumstances and attitude towards risk. CFD investments are generally only suitable for sophisticated, experienced investors or people who can afford to place capital at risk and are aware that they are doing so.

CFD’s are not usually suitable for those investors who are seeking a low risk product. It is not usually suitable to invest or transfer pension money into CFD’s due to the potential negative impact this can have on retirement fund values.

What if my financial adviser or CFD provider is no longer trading?

We will still consider this for you. A financial adviser, stockbroker or CFD provider will often have professional indemnity insurance or other funds which we can seek to claim against. Even if this is not possible, there may be other routes of claim for you to potentially pursue. Please contact us for further advice on the available options.

How much am I entitled to?

If you can successfully show that you have suffered financial loss due to the negligent advice or actions of a financial adviser, stockbroker, CFD provider or other associated party, you can seek to claim compensation for the losses sustained, plus interest. The amount awarded should put you in the position that you would have been in had no wrong been done.

What do we charge?

We offer an absolute and guaranteed No Win, No Fee agreement, it’s that simple. If successful, we take a fee of up to 20% (plus 4% VAT) * Of the award of compensation. If unsuccessful, our clients pay us nothing.

* We reserve the right to apply a deduction in more complex or higher risk cases of up to 30% plus VAT. Typical examples might be where there are multiple parties to claim against, where time limits for claiming may have passed or new areas of law are tested.

What if my claim has already been rejected?

We will still look at this for you. We have taken on and been successful in many claims that have previously been rejected by financial advisers and other associated companies.

Will I have to fill out loads of paperwork?

No, we will be able to do most of the necessary paperwork for you and we can obtain any relevant documents on your behalf. You will have to check the details of your claim before it is submitted, but we will assist you with this.

What do I do now?

Email us or call 0800 152 2620 There is absolutely no obligation to proceed and if you tell us what’s happened, we will briefly explain if we think you have a claim and the procedure for filing a claim and the time limits that apply.

Relevant Case Studies

Mr J
received
£30,000

Mr J was approaching retirement and had two private pension funds worth a combined total of close to £65,000. He intended to use these funds to supplement the income that he would receive from his State pension so that he could meet daily living expenses.

Mr and Mrs S
received
£30,000

Mr and Mrs S held pension funds with a major provider worth a combined total of approximately £44,000. A financial adviser told them that a better rate of return could be achieved elsewhere and persuaded them to transfer the full amount to a fund which invested in commercial property.

Mr R
received
£80,000

Mr R had a pension fund worth over £340,000 and met with a financial adviser to discuss his retirement options. He was persuaded to put the full amount into an investment plan and to draw income at a rate of £20,000 per year.

Mr W
received
£56,500

He approached us for advice and we acted on his behalf in a claim for compensation for both the capital and interest that had been lost on the investment. We were able to negotiate a settlement of his claim. He received a total of £56,500 in compensation.

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Mis-selling or mis-management by a SIPP Operator?

Have you suffered financial losses on a SIPP operated by a SIPP operator? If so, then you may have grounds for bringing a No Win No Fee claim.

Some SIPP operators have entered into dealings with third party advisers who are not authorised and regulated by the Financial Conduct Authority to give pension or investment advice. This is despite their regulatory body publishing alerts and giving warnings against such actions.

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Mis-sold or mis-managed investment or pension?

  • You were sold an investment without having been properly advised of the risks
  • Your personal circumstances or attitude to risk wasn’t properly considered
  • You were sold a SIPP or poor returning annuity
  • You were advised to invest all or most of your savings into a single investment
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One of the UK’s leading specialists in financial mis-selling... The Times
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