What counts as wealth management negligence?

Wealth management mis-selling occurs when a DFM or adviser makes investment decisions unsuitable for the client's risk profile or objectives. FCA COBS 9 and Consumer Duty (2023) require suitability. Claims via FOS (up to £455,000) or direct litigation. Source: FCA COBS 9; FCA Consumer Duty 2023.

Wealth Management

Wealth Management and Discretionary Fund Manager Mis-selling — Did Your Wealth Manager Take Excessive Risks?

Wealth managers and DFMs must make every decision suitable for your circumstances under FCA COBS 9 and the Consumer Duty. Where they don't, you may have a claim.

Check My Claim — Free Do I Qualify?

£455,000

FOS award limit (post-1 April 2019 acts)

COBS 9

FCA suitability rule

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Do I Have a Claim?

Signs of Wealth Management Negligence

You may have a strong case if any of the following apply:

Your wealth manager described your investment approach as 'cautious' or 'balanced' but invested your money in high-risk assets
You suffered losses significantly greater than the general market
You were not told about fees, charges, or conflicts of interest
Your portfolio was heavily concentrated in a single stock, sector, or asset class
You were sold structured products, complex derivatives, or high-risk alternatives without proper explanation
Your investments were frequently bought and sold (churning), generating fees without benefit to you
The FCA has taken enforcement action against your wealth manager
You were not given regular suitability reviews

What Happened

Wealth managers and discretionary fund managers (DFMs) are authorised to make investment decisions on your behalf. When they do so, they must ensure every decision is suitable for your specific circumstances — your age, risk tolerance, investment objectives, tax position, and time horizon. When they fail to do this, and you suffer losses as a result, you may have a claim. Common failures include: taking excessive risk with clients who specified 'cautious' or 'balanced' investment mandates; concentrating a portfolio in a single sector or asset class; churning (buying and selling excessively to generate commission); recommending expensive and unsuitable structured products; and failing to rebalance portfolios during market downturns.

Why You May Be Owed Compensation

Under FCA COBS 9 rules, all investment advice must be suitable. The FCA's Consumer Duty (2023) introduced stronger standards requiring firms to deliver good outcomes for retail clients. Where a discretionary manager has breached suitability, charge disclosure, or risk-control duties, claims can be brought through the Financial Ombudsman Service (up to £455,000) or by direct litigation against the firm and its PI insurer.

Who Is Liable?

Depending on your situation, you may have a claim against:

Wealth management firm / DFM — Primary liability for unsuitable decisions, churning, concentration risk, or undisclosed conflicts.
PI insurer — Wealth firms typically carry strong professional indemnity cover that pays settled claims.
FSCS — Covers eligible claims up to £85,000 where the firm has failed and PI cover is exhausted.

How to Claim

1. Free Claim Check

Tell us about your investment in 60 seconds. We confirm if you have a claim.

2. We Investigate

We gather the evidence, file with the FOS, FSCS or adviser. No paperwork for you.

3. You Get Paid

Compensation paid directly. No Win, No Fee — we only charge if you win.

Wealth Management – Frequently Asked Questions

My portfolio went up — can I still claim?

Yes if a suitable benchmark performed materially better, or if charges and risk exceeded what was agreed.

What is a DFM?

Discretionary Fund Manager — a firm that buys and sells investments on your behalf without asking you each time.

Does the Consumer Duty help my claim?

Yes. The FCA's Consumer Duty (2023) raised the standard firms must meet, particularly on fair value, suitability and clear communication of risk and charges.

What about St James's Place / Quilter / similar?

Vertically integrated wealth firms have all been subject to mis-selling reviews. We assess each case individually.

How is loss calculated?

Against an FCA-recognised benchmark portfolio matching your agreed risk profile.

What if I'm still a client?

You can still claim. Many of our wealth-management clients remain with their firm during the claim.

Further reading. Read our in-depth Wealth Management & DFM Failures Guide 2026. See also our full guides on time limits for mis-selling claims, how compensation is calculated, and what evidence helps your claim. Not sure which route applies? Compare the FSCS and the Financial Ombudsman, estimate your compensation, or read how No Win No Fee works.

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Not sure whether you are still in time? Check if you can still claim — the 6-year limit is not always the end of it.

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