AAA planners may flock to Suncorp
Suncorp-owned dealer group Guardian Advice is set to provide refuge to a few AAA Financial Intelligence authorised representatives.
Suncorp's spokesperson confirmed to Money Management that, while Guardian Advice had not yet signed any AAA planners on, it is definitely in talks with a "number of high quality advisers from the dealer group".
AAA Financial Intelligence and AAA Shares had their licenses recently cancelled by the Australian Securities and Investments Commission (ASIC), after a two-year surveillance of the business.
ASIC Commissioner Peter Kell said the licensee had an "appalling record" which placed at risk the advice provided to retail clients.
ASIC claims AAA Financial Intelligence failed to put proper compliance and human resources systems in place, and failed to properly train its advisers.
Money Management understands Guardian's move is in line with the dealer group's strategy to drastically increase its adviser numbers.
Recommended for you
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
