When to Consider a Compensation Claim Against Quilter

Realising your account suffered under similar issues is the first step towards protecting your finances.

Understanding Compensation Claims

If, for some reason, the service or advice you’ve received from a financial services provider in the UK has either been misleading or out of line with the services agreed upon, then there are established processes to allow you to claim compensation. The processes are designed to provide redress for clients who have suffered financial loss due to poor advice or misconduct by financial advisers or managers. Clients can use a claim to get back what they lost and make sure that those responsible are held accountable. The process helps maintain trust and integrity within the financial industry.

Circumstances Leading to Compensation Claims

Clients may consider compensation claims against financial service providers for various reasons:

• Investment mismanagement
  • For example, excessive buying and selling of investments to generate commissions goes against your best interests.
• Inappropriate advice
  • This happens when advisers recommend investments that don’t match your goals, like putting your money into high-risk options when you’ve expressly asked for something safer.
• Fee disputes
  • It would seem counterintuitive for this to happen with a financial adviser, but being overcharged or misled about fees or costs is quite common.
• Missed reviews
  • If your provider fails to provide regular reviews, you could miss important changes that could improve or protect your investments. As reviews are often part of the service you are paying the provider for, you are also paying for services you are not receiving.
• Other unethical practice
  • Failure to explain terms and conditions, pressure selling, misrepresentation of investment products, and lack of disclosing key information.

If you suspect any of the issues mentioned above are relevant to the financial services you received from Quilter, contact us to discuss a possible compensation claim.

Regulatory Framework

The regulatory framework governing financial advisers and wealth management firms is designed to protect clients from issues like the ones listed above and promote transparency. The Financial Services and Markets Act 2000 is a key piece of legislation that sets out the UK’s regulatory framework for financial services. The Financial Conduct Authority (FCA) is the regulatory body responsible for overseeing the conduct of financial services firms and ensuring they operate in the best interests of their clients. These regulations mandate that firms, such as Quilter, adhere to strict standards of conduct, provide clear information, and act in the best interest of their clients.

Steps to File a Compensation Claim

Here’s how to claim redress from Quilter with AMK Legal:

• Identify the Issues
  • Determine the basis of your claim. The typical circumstances are investment mismanagement, financial advisory issues, inadequate charges or poor financial advice.
• Consult AMK Legal
  • Discuss your issues with us, and we’ll review your case and give expert advice. An initial assessment takes about 15 minutes. We will then gather evidence from your wealth manager on your behalf and thoroughly investigate your situation.
• Submit Your Claim
  • We’ll prepare and submit your claim, detailing your issues and providing supporting evidence.
• Await the Response
  • Depending on its complexity, the claim process might take up to 6 months.
• Follow-ups
  • We will update and guide you throughout the process and any additional steps required.

Contact AMK Legal today to protect your financial future

Understanding the importance of compensation claims is vital for protecting your financial future. If you have experienced any issues, consider seeking advice and filing a claim with our help.

You can reach us by phone at 01204 565331 or by email at enquiries@amklegal.co.uk.

If you prefer, you can submit a request for a callback using the form below, and we will contact you promptly.