Former Garrisons adviser banned
Former Garrisons financial planner Phillip John Maguire has been banned from acting as a financial adviser due to bankruptcy.
The Brisbane-based financial adviser was banned by the Australian Securities and Investment Commission (ASIC) from acting for any securities licensee for the period that he remains bankrupt.
However, ASIC has left the door open for the embattled adviser to apply for a revocation of the banning order once he has been discharged from bankruptcy.
Maguire had previously represented Garrisons, but the company stripped his authority to act on behalf of it in March last year.
AUTHOR
Lachlan Gilbert
Recommended for you
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
With a growing number of advisers now running their own business, they need to pivot their career identity to being a business owner rather than just as a financial adviser if they want to futureproof their business.
Zenith Investment Partners has launched a range of new managed account portfolios over the past quarter, including on Insignia Financial’s Expand platform.
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
