Article contentAny person who has received negligent advice from a financial advisor or bank may be entitled to make a compensation claim. To successfully pursue a claim, you need to show the advisor has acted negligently and that negligence caused you to suffer loss. Negligence arises where the advisor has not acted reasonably. Negligent conduct has arisen in claims involving margin loans, tax avoidance schemes, investment and share schemes which fail, speculative investment schemes, failure to monitor investment portfolios and the like. Claims are regularly made against registered companies and banks for failure to fully disclose all information about their financial affairs. If your insurer has denied a claim, or has accepted a claim but refuses to pay out what you believe you are entitled to, the decision should be disputed. These decisions are usually made by low level claim operators and are often wrong. In addition, even if the decision at first instance seems right “on paper”, you might have legislative and consumer protection as a result of the insurer failing in its duty. Examples of these failures could include not following proper procedures at the start of the policy period, not notifying an insured of their duty of disclosure, cancelling a policy incorrectly or failing to properly invite renewal of the policy. All these claims are extremely complex, if you believe you have received bad financial advice, or your insurer has not dealt with your claim appropriately, we recommend you urgently contact National Compensation Lawyers on 1300 FEARLESS (1300 332 753) to discuss your matter with a lawyer.