A boutique Victorian financial planning firm is the third of what could be many to face court over advice to invest in the failed Westpoint property group.

A retired pharmacist has launched action against Shepparton-based Wealthcare Financial Planning after losing $600,000 in the collapse.

Trevor Pollard filed the writ in the Federal Court last week and is seeking his lost retirement savings as well as the cost of the action. Lawyer Ben Phi of litigation specialist Slater & Gordon says the case will concentrate on a lack of due diligence by the firm – sidestepping issues of Westpoint’s notoriously high commissions for financial advisers.

Slater & Gordon is also representing two Westpoint-related class actions against financial planning groups in Queensland and NSW.