Former Guardian financial adviser permanently banned
A former Guardian Financial Planning adviser has been permanently banned from providing financial services after it was found she falsified 65 insurance policies to collect the commissions.
Susan Heathwood, of Randwick in Sydney, was an authorised representative of Guardian Financial Planning from April 2005 until May 2011, and an employee of Jalee Consulting Group - also as an authorised representative of Guardian Financial Planning.
An Australian Securities and Investments Commission (ASIC) investigation found Heathwood falsified personal information about applicants who never asked that insurance be arranged on their behalf on the 65 policies between 2010 and 2011.
The names on the forms were current or former clients of Heathwood, who listed applicants' addresses as her own post office box and their phone numbers as her own mobile phone number or the former mobile number of her son and daughter, ASIC stated.
Heathwood has the right to apply to the Administrative Appeals Tribunal for a review of ASIC's decision.
Recommended for you
The strategic partnership with Oaktree Capital and AZ NGA is likely to pave the way for overseas players looking to enter the Australian financial advice market, according to experts.
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
Increasing revenue per client is a strategic priority for over half of financial advice businesses, a new report has found, with documented processes being a key way to achieving this.
The education provider has encouraged all financial advisers to avoid a “last-minute scramble” in meeting education requirements prior to the 31 December 2025 deadline.
