MC Lawyers & Advisers in Sydney, Australia | Financial service

MC Lawyers & Advisers

Locality: Sydney, Australia

Phone: +61 2 8379 1278

Address: Level 21, 133 Castlereagh Street 2000 Sydney, NSW, Australia

Website: https://www.mclawyers.com.au

Likes: 44

Add/Update information

Reviews

Tags

• Financial service
• Lawyer & law firm
• Legal service

22.01.2022 Commonwealth Superannuation Scheme [CLASS ACTION] ---REGISTER YOUR INTEREST--- Are you a retired member in the Federal Public Service with pre 1990 Commonwealth Superannuation Scheme (CSS) entitlements?... If so, you retired with a lifetime of defined benefit pension entitlements which comprised: 1. a part CPI indexed component which maintained the real purchasing value of your pension over time; and 2.a part non-indexed component which provided a fixed but decreasing real value pension over time. Upon retirement, many retired members of the Federal Public Service converted their non-indexed pensions into lump sum payments on the advice of their financial advisers. These financial advisers would receive zero commissions if their clients held onto their non-indexed pensions but significant commissions if their clients chose to convert their non-indexed pensions to a one-off lump sum payment. This scenario motivated many financial advisers to provide inappropriate advice to their clients, who may not have canvassed the long-term benefits of retaining the non-indexed pension. If you converted your non-indexed CSS pension to a lump sum upon retirement, we encourage you to register your details with us so that you can be informed of the result of our investigations. We are presently enquiring into whether advice received from financial advisers was inappropriate and/or not in the best interests of their clients. In other words, we are investigating whether the financial advice you received was wrong, misleading or negligent. If this is proven to be the case, you may be entitled to compensation for your losses. *****There is no cost or obligation to you in registering***** https://www.mclawyers.com.au/css/

20.01.2022 MAYFAIR 101 CLASS ACTION UPDATE: 28 JANUARY 2021 Current Status of Class Action We have been approached by a large number of Mayfair investors with an interest in securing as much of their note value as possible through legal means....Continue reading

18.01.2022 Receiving Financial Advice Financial advice and financial institutions are in the spotlight. With the commencement of the Banking & Financial Services Royal Commission you can expect to see much of this topic in the press.... Recent changes in the legal landscape have created a higher level of consumer protection and enhanced your ability to recover investment related losses arising from negligent financial advice. Common scenarios which give rise to financial adviser negligence include: 1. Recommending unreasonably risky investments particularly if you have a preference for low risk conservative investments and are placed into high risk investments, you may have a claim against your adviser for failing to act in your best interests; 2. Recommending an inadequately diversified investment portfolio this can occur when you are placed into investments which concentrate too much of your wealth with one organisation, industry or sector. This failure to spread the risk of your portfolio is a regular feature of claims in negligence; 3. Failure to ascertain your personal circumstances and priorities a financial adviser must know about your income, assets, liabilities and risk appetite before he or she can provide you with informed advice. Failure to do so creates an inference of negligence; 4. Misleading and deceptive statements an adviser who misleads you orally or in writing about the characteristics of an investment product may be guilty of negligence. Investments being described as risk free or guaranteed are typical misleading statements; 5. Failing to provide you with a Statement of Advice, Financial Services Guide or Product Disclosure Statement providing these documents to you is a statutory requirement. Failure to meet this statutory requirement creates an inference of negligence; and 6. Failure to justify switching your investments advisers are required to evaluate the costs and benefits to you of your current investments against alternative investment settings, particularly with respect to cost and risk. It is appropriate to recommend a switch in investments or wrap platform only if such a switch results in lower costs or an improvement in your portfolio risk profile. All too often such switching recommendations are motivated by fees and commission payable to the financial adviser rather than a clients best interests. You have six years from the time you suffered financial loss to commence your claim if you suspect that you have lost funds as a result of the your financial adviser failing to act in your best interests. If the above scenarios appear familiar to you, please contact us on (02) 8379-1278 for a free initial consultation.

17.01.2022 Receiving Financial Advice The right kind of financial advice can really make a big difference. Financial advice can give you confidence that your future plans are achievable. If youre not on track to achieve your goals, it can help you put the right strategies in place, or come up with more realistic goals. Financial advice can help you:... 1) Set and achieve your financial goals 2) Make the most of your money 3) Get any government assistance youre entitled to 4) Feel more in control of your finances and your life 5) Avoid expensive mistakes 6) Protect your assets Issues surrounding financial advice With the commencement of the Banking & Financial Services Royal Commission, you can expect to see much of this topic in the press. Recent changes in the legal landscape have created a higher level of consumer protection and enhanced your ability to recover investment related losses arising from negligent financial advice. Common scenarios which give rise to financial adviser negligence include: 1) Recommending unreasonably risky investments particularly if you have a preference for low-risk conservative investments and are placed into high-risk investments, you may have a claim against your adviser for failing to act in your best interests; 2) Recommending an inadequately diversified investment portfolio this can occur when you are placed into investments which concentrate too much of your wealth with one organization, industry or sector. This failure to spread the risk of your portfolio is a regular feature of claims in negligence; 3) Failure to ascertain your personal circumstances and priorities a financial adviser must know about your income, assets, liabilities and risk appetite before he or she can provide you with informed advice. Failure to do so creates an inference of negligence; 4) Misleading and deceptive statements an adviser who misleads you orally or in writing about the characteristics of an investment product may be guilty of negligence. Investments being described as risk-free or guaranteed are typical misleading statements; and 5) Failing to provide you with a Statement of Advice, Financial Services Guide or Product Disclosure Statement providing these documents to you is a statutory requirement. Failure to meet this statutory requirement creates an inference of negligence. You have six years from the time you suffered a financial loss to commence your claim if you suspect that you have lost funds as a result of your financial adviser failing to act in your best interests.

14.01.2022 Mayfair 101 Class Action Investigation