Former England football captain Alan Shearer is suing his financial adviser and Suffolk Life over negligent advice and breach of regulatory duties.
The 46-year-old star, who is now a pundit on Match of the Day, is suing adviser Kevin Neal for negligence for ‘careless’ and ‘dishonest’ pensions advice.
Shearer’s £9m claim centres on his “limited knowledge or experience” of investing, placing trust in an adviser, and that he was “effectively swindled”, the High Court heard.
Neal told the court yesterday that he had “acted in good faith at all times” and was not “gung-ho” in his approach. He said Shearer’s claim is driven by ‘pure greed and ego’, according to a report from the BBC.
Shearer is also claiming that Sipp provider Suffolk Life failed in its regulatory duties. Suffolk Life is reported to have rejected the claim, arguing that he and his advisers were responsible for their investment decisions.
A Suffolk Life spokesperson said: “We never publicly discuss any legal matters nor the private details of any of our clients.”
Neal is not currently listed on the FCA register as an adviser.
The trial continues.