Lamb to the slaughter
Professional negligence

CH received a windfall gift of €1 million from her mother and sought professional advice from a firm of chartered accountants with regard to the investment of €400,000. CH had no investment experience and was not in a profession that was particularly numerate. She sought the advice of a firm of chartered accountants who initially advised on the need to diversify her investment portfolio away from property investments that she had made with some of the balance of the funds. Following a faulty fact find and inadequate risk assessment by the firm funds were invested in London properties without any advice on the gearing risk that was inherent in the investment vehicles nor the euro/GBP currency risk resulting in significant loss.