Former Financial Wisdom advisor banned by ASIC
Victorian financial advisor Anneliese Ada Willmott has been banned from providing financial services by the Australian Securities and Investments Commission (ASIC).
Willmott was formerly an authorised representative of Financial Wisdom Limited, a Commonwealth Bank of Australia-owned financial planning firm, from 12 November 2015 to 10 August 2017.
ASIC found Willmott had:
- engaged in dishonest, misleading and deceptive conduct by forging client signatures, using false documents and back-dating documents;
- deleted records to conceal misconduct;
- falsely declared to have witnessed signatures on Death Benefit Nomination Forms and arranged for others to backdate and falsely witness these forms; and
- failed to provide Statements of Advice to clients.
AUTHOR
Chris Dastoor
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.
