Sometimes we need to make a financial decision that is of such importance we decide to pay for professional advice. This may be from an accountant, a tax specialist, a pensions expert, a mortgage consultant, an independent financial advisor, a land valuer or surveyor, or even a lawyer offering financial or tax planning services.
By seeking professional input, we aim to arm ourselves with the information needed to ensure that the decisions we make are well-informed and that they are geared towards helping us to safeguard or improve our financial fortunes rather than making them worse.
So where do you stand if you discover, possibly months or even years down the line, that the advice you have been given may be wrong or inappropriate and where it is likely that your financial interests have been harmed as a result? Do you have the right to sue for compensation where your pension pot is smaller than you were led to believe it would be, or where you are now on the hook to pay tax and penalty charges for organising your affairs in a way advocated by your accountant, but which is objected to by HMRC?