Financial Services

Our specialist financial services team can provide advice on a range of issues common to your sector including:

  • advising on the enforceability of restrictive covenants and how to deal with "bad leavers";
  • disciplinary proceedings, including representation at the Regulatory Decisions Committee;
  • contract disputes;
  • coverage issues and defending mis-selling claims where there is no insurance cover;
  • defending Financial Ombudsman complaints;
  • buying and selling businesses;
  • drafting and updating partnership agreements, shareholders' agreements, specialist contracts of employment and consultancy agreements; and
  • wills, personal tax planning and trusts.

We act for a range of financial advisers, banks, pension funds and insurance businesses. Our specialist knowledge in this area allows us to tailor our advice to focus on the specific issues facing the financial services sector. When advising we adopt a commercial and holistic approach and always consider your wider business needs. We also provide a flexible solution to ensure that our clients receive consistent, cost effective advice from their regular lawyer. Our clients value our expertise and knowledge of the local market.

How can we help you?

What would you do if consultants left your firm, taking your business and clients with them?

The client: Independent Financial Advisers

The problem: Our client engaged a number of consultants to provide advice on their behalf. Three of these consultants left our client's firm to set up a rival business selling the same services and attempted to transfer their whole customer base with them. They changed all of the customer contact details on our client's database and stole customer files. This was in breach of the non-solicitation and non-dealing clauses set out in their consultancy agreements. Our client faced losing numerous clients, repeat business and ongoing commission.

What we did: We obtained an injunction against the consultants with an order that they deliver up all confidential information to our client and cease contact with disputed customers.

The result: We stopped our client's customers transferring their business.

What if your insurance company refused to pay out on claims you thought were covered?

The client: A firm of stockbrokers.

The problem: Our client's insurance company would not cover a number of mis-selling claims. It transpired that our client's insurance broker had failed to notify their insurer when changing policies that the firm had received notification of these claims, so cover was not available.

What we did: We advised our client on the professional negligence claim against the broker.

The result: We achieved a fair financial settlement for our client.

How would you defend a large mis-selling claim if your insurance coverage was invalid?

The client: Two Independent Financial Advisers

The problem: Our clients were sued by their former employer for damages of almost £1.3 million in respect of alleged negligent advice given to customers during the course of their employment.

What we did: We advised our clients on various issues including insurance coverage issues, mis-selling and contributory negligence.

The result: We successfully settled the cases at mediation, with a good result for our clients enabling them to move on and concentrate on their new business.

"GL can be relied upon to provide a service that is thoughtful, responsive and commercially astute whilst still being friendly, personal and good value for money"

Roger Isaacs, Partner, Milsted Langdon

"Gregg Latchams acted for us in the sale of a long established financial services business. I was at all times impressed and reassured by the skills of the partner in the conduct of the process and of particular note were the attention to detail, ability to deliver within exacting timescales, tactical approach and negotiation skills."

John Sellers, J Edward Sellars Partners Limited

"GL acted in the sale of our business. [They were] very thorough in [their] analysis of the contract and assisted us in negotiating changes in our favour. [Our solicitor] kept us informed throughout the process and we would recommend that anybody buying or selling a business engages the service of GL."

Ben Olsen, Managing Director, Grosvenor Consultancy Limited

"GL offers a refreshing approach to the financial services sector and can be relied upon to give an efficient and competent service tailored to your specific needs."

Nigel Hardy, Director, Baker Tilly

Ken McEwan
Director, Head of Department
0117 906 9442
Emma Ironside
Associate Solicitor
0117 906 9488
Lucy Mills
Associate Solicitor
0117 906 9460