Can a financial planner be sued for failing to deliver services or plans required by a written agreement with a client?

Can a financial planner be sued for failing to deliver services or plans required by a written agreement with a client?

• A. Yes, it is a contract.
• B. Yes
• C. No, it is not a contract.
• D. No

Answer: (B)

The key idea is that a written agreement with a client creates a binding contract. When the financial planner commits to delivering certain services or a specific plan, there is a duty to perform as agreed. If the planner fails to provide those services, that failure is a breach of contract, and the client has a right to pursue legal remedies, typically damages or, in some cases, specific performance. The fact there is a written document is what gives rise to the contractual obligation and the ability to sue for not delivering what was promised.

The key idea is that a written agreement with a client creates a binding contract. When the financial planner commits to delivering certain services or a specific plan, there is a duty to perform as agreed. If the planner fails to provide those services, that failure is a breach of contract, and the client has a right to pursue legal remedies, typically damages or, in some cases, specific performance. The fact there is a written document is what gives rise to the contractual obligation and the ability to sue for not delivering what was promised.