My solicitor gave me bad financial advice and I need to sue him for professional misconduct. Can this be done and does anyone know a firm that will offer a no win no fee basis as I have been quoted £2500 - £5000 (and I don't even know what I might get if I won).
Alternatively, can I bring a case via county court, or small claims court etc myself? How do I go about it, would I stand a chance without a legal background?
For anyone still reading who thinks they may be able to help, this is what happened.
In 1990, my solicitor sold me an endowment policy. He used a bit of software provided by Sedgewicks Financial Services to come up with a list of providers and make a recommendation to me. I was 20 and he sold it on the basis that it will pay off the mortgage and give a lump sum on top! He also sold me a low cost policy which didn't make sense for my circumstances and it was for the wrong amount (he obviously didn't have a clue!). He said that if I used him for the advice, he would give me the commission he received from the firm of c.£300 but charge me £100 for his services (win win). I have since found out that the total commission is nearer £1200 altogether.
He denied it was his responsibility when I complained to the firm in 2002. I then spent 4 years going through the Financial Services Ombudsman who first said it was Sedgewicks but then after more papers appeared as evidence they said the solicitor was ultimately responsible for the advice given.
I have tried the Law Society but the law that came in giving them power to award compensation in such circumstances only came into effect in 1991 so they can't help either.
Now I am advised I need to sue the solicitor for professional misconduct. Is it worth it?