If you have retired, or were given a large settlement, and have found that you now live a lifestyle that has much lower standards than you were promised, you may have a case that a financial negligence lawyer can help you with. This is particularly true if you have gone through mandatory financial counseling or were paying someone to give you financial advice that you followed. Anyone who is paid to give financial advice must ensure that their advice is actually going to benefit their clients in the long term, rather than just letting them languish in the short term.
Many people go to a financial planner and believe that they are going to help them make good investments. If those investments are later shown to be bad, and the person actually followed through with those investments, then the planner is directly responsible for the financial situation that their client has found themselves in.
Many people also don’t know that there are actually standards that financial planners have to follow when giving advice. They have to know and trust the investments, there has to be a reasonably low level of risk involved, and they have to know that the investment will work in the future. This puts the burden of proof on them if something goes wrong and means that any good lawyer will be able to demand that proof before taking on their case for them. Financial planners who are not able to provide this level of proof will often find themselves agreeing to a settlement for much more than their clients would have thought possible.
Even if they are able to produce proof that they trusted the investments or advice at the time that they gave it, that doesn’t make that it followed the correct standards for that time period. If they produce proof that is fraudulent or that a judge sees as being incomplete, you may still be able to get a settlement without much effort. At the end of the day, they are the ones who have to prove that they were giving correct advice, you don’t have toÂ prove anything about the reasons that you took the advice.
You don’t have to be rich to be able to get this kind of help. The most common cases are those from people who have retired and found that their pensions were incorrectly invested or that the payouts they were promised when they went through counseling weren’t there. often these cases end in the retired individual getting a much better retirement package than they were entitled to originally, lifting their standard of living higher than the one that they expected.
You can also contact a financial negligence lawyer if you have a stock broker or other brokerage group who has led to a direct loss. Depending on the transaction type, they may actually be on the hook for the amount that you have lost. If this loss has led to a decrease in your standard of living or in any medical consequences, you may also be able to get damages for that as well.
Overall, individuals are meant to trust the information that they get from financial planning professionals. When they aren’t able to trust that information, it means that the financial planner has failed in their duty. If you feel like you have been failed by a professional that you trusted with your hard earned money, than contacting a good financial negligence lawyer may get you the justice that you deserve and help you live the life that you deserve.