When providing financial advice, the adviser is under a duty to exercise reasonable skill and care. The High Court in O’Hare and O’Hare v Coutts & Co [2016] EWHC 2224 (QB) held the relevant test is that laid down by the Supreme Court in Montgomery v Lanarkshire Health Board: whether the adviser made the investor aware of any material risks involved in any recommended investment, and of any reasonable alternatives.

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