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.
Recommended for you
The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered.
Rather than taking a controlling approach, the latest generation of overseas private equity deals is helping advice firms to achieve their growth ambitions, three commentators have said.
Private wealth firm Fitzpatricks Group has appointed a newly created head of product, who previously spent 20 years at CFS, to bolster its range of investment options.
The Financial Services and Credit Panel has made a written direction after advice regarding non-concessional contributions meant an individual was forced to withdraw over $330,000 from their super.
