Football star Shearer sues adviser for £9m in damages

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Former England football star Alan Shearer is suing his financial adviser for negligent advice.

Shearer has taken IFA Kevin Neal to the High Court to claim £9m in damages over “careless” and “dishonest” pensions advice, the BBC reports.

Shearer is also claiming that Suffolk Life failed in its regulatory duties.

Both parties dispute the claims. Suffolk Life argues that it was up to Shearer, now a pundit on BBC show Match of the Day, and his advisers to take responsibility for their investment choices.

Shearer’s claim centres on his “limited knowledge or experience” of investing, placing trust in an adviser, and that he was “effectively swindled”.

Neal told the court yesterday that he had “acted in good faith at all times” and was not “gung-ho” in his approach.

In 2014, the FOS upheld a complaint against Neal’s then firm, Kevin Neal Associates, over the sale of unregulated investments including a forestry fund called Quadris Environmental.

Neal is no longer listed as active on the FCA register.

The trial continues.