... by several clients but only had limited insurance.... Since then they have "pheonixed" a couple of times. So, 4 years on from my own bad advice, I've been told I myself can't sue because the company no longer technically exists! One of their directors left so only name changed but they are still in business. I tried the Slater and Gordon idea, but have been advised there is little hope. My knowledge was that I have 6 years after the relevant event in which to sue. My case is quite strong with email evidence history to support my grievance.
I am still hundreds of thousands down compared to my ACTUAL (hard earned!) contributions. My life plans have been ruined, all because my FA did not withdraw to cash late '07 like I asked. When the market subsequently dropped over the next few months the advice was almost insistent that I continue to hold, which I did, reluctantly, ALL THE WAY DOWN.
I gave it a few years to recover, to no avail. Time to seek recompense. Who do I turn to? ASIC? ACCC? Someone/thing else? Please spare me the "it's your own fault for being greedy/ignorant etc etc". The clients who successfully settled had lost less under less dubious circumstances. The FA should be liable - no doubt about it.