bad advice ?

[cardiac arrest]

if you go to a financial advisor for some expert advice, and you later find out that the advice turned out bad...how long do you have to complain ?

The reason I ask is that I have it in my head you have 6 years...but 6 years from when...? the original advice or the date you realised the advice was bad ?

Given it may well be 10,15 25 years before you actually realise you were given bad advice...does that mean at that stage it is too late to complain and maybe seek some redress ?

[gravytrain]

Re: bad advice ?

As far as making a complaint is concerned, I do not think that there is any limitation on when you can complain, the limitation imposed by the statute of limitations refers to the time limit for making a claim in court.
Most professional advice agencies have a regulatory body which a complaint can be made to in the first instance.

As far a taking proceedings in court, the time limit for an action in tort is usually 6 years although if it is a medical negligence claims I think it is three.
There is provision in section 29 of the act where this period can be extended if the cause of action was concealed in which case the start of the time period would run from when the injured party was aware of the tort/breach.

[Never-In-Doubt]

Re: bad advice ?

You have 6 years from the date you became aware of reason to complain (ie when you found out summat was wrong)....

The FOS also apply apply the same rule

[gravytrain]

Re: bad advice ?

thats wot I said innit

[Never-In-Doubt]

Re: bad advice ?

thats wot I said innit

yea

[cardiac arrest]

Re: bad advice ?

thanks guys...