SShureluck

Investment services

Did your investment manager remain within the mandate?

A disappointing return alone does not prove misconduct. The key questions are whether the portfolio matched your objectives and risk tolerance, whether advice was suitable and whether departures from the agreed policy were adequately explained.

What is examined?

The management agreement, risk profile, suitability assessment, transaction records, costs and reporting are considered together. Concentration, liquidity, leverage, complex products or unexplained strategy changes may deserve particular attention.

Loss, benchmark and causation

A portfolio can lose value even when properly managed. A sound analysis therefore distinguishes market loss from loss potentially linked to an unsuitable strategy, breach of mandate, deficient information or excessive costs. The relevant comparison is not always a broad market index.

Evidence and complaint route

Keep all questionnaires, proposals, statements, reports and correspondence. Depending on the relationship and provider, the complaint may first be submitted internally and subsequently to Kifid or the courts. The Dutch Authority for the Financial Markets explains the ongoing obligation to assess suitability. Read the AFM information.

Investment losses do not by themselves establish liability. Agreement, advice, evidence and causation must be assessed in context.

Related topic

General support with banking disputes.

Content reviewed: 22 September 2026.