Financial Services disputes:

Financial services disputes can include disputes with:

1. Banks, credit unions or other lending institutions about loans, credit cards and accounts;
2. Accountants about the financial services they have provided, or otherwise have failed to provide;
3. Financial planners about the advice provided as to the most appropriate investment strategy or mismanagement of such investments;
4. Stock brokers about the acquisition and sale of shares and any advice provided in relation thereto;
5. Insurance companies/ brokers about the most appropriate insurance coverage and/or the terms of such policies.

Where there is a financial services dispute, it is usually recommended that the aggrieved person discuss the dispute with the provider of the financial services directly and attempt to reach a resolution internally. If however this is unsuccessful, they may be able to refer the dispute to the Financial Ombudsman Service or the Credit Ombudsman Service Limited.

The Financial Ombudsman Service and Credit Ombudsman Service Limited can investigate disputes and assist the parties in reaching a resolution. One method which is utilised, particularly at the Financial Ombudsman Service is conciliation which is an alternative dispute resolution process. Conciliation is where a third party, a conciliator, discusses the primary issues with the parties and tries to assist them in reaching a mutually agreeable outcome.

If an aggrieved party does not wish to proceed to the Ombudsman, they may be able to bring legal proceedings against their financial services provider. Prior to, and during the course of legal proceedings, there will still be an avenue for alternative dispute resolution procedures such as conciliation, negotiation and mediation, depending on the attitude of the parties towards participation.

Should you require any assistance do not hesitate to contact our Financial Services Disputes Lawyers by telephone on (02) 9233 4048 or send an email to info@navado.com.au to book an appointment. 

This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.