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AFCA
Financial planning
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. ...
Financial planning
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year....
Financial planning
Just one of the nearly 50 systemic issues reported by AFCA to regulators in the second half of FY24 related to investments and advice, a report has uncovered....
Financial planning
With less than 5 per cent of Dixon Advisory complaints closed, AFCA has detailed how it is dealing with systemic issues, known as batch matters, through a consistent yet ...
Financial planning
AFCA has revealed to Money Management the number of Dixon Advisory complaints it has closed so far out of the more than 2,700 total complaints received....
Financial planning
AFCA has urged financial advice firms that when recommending a product to clients where it receives any benefits, advisers must go beyond merely disclosing conflicts of i...
Financial planning
Investment and advice complaints to AFCA dropped by over a quarter in FY24 but inappropriate advice remains the most prevalent complaint afflicting the sector....
Financial planning
A compliance expert has shared three tips that financial advisers can learn from the mistakes of Dixon Advisory, based on the firm's AFCA determinations. ...
Financial planning
AFCA has told a parliamentary joint committee that it is insufficient for financial advisers to not thoroughly check whether a person qualifies as a wholesale investor gi...
Financial planning
The fallout from Dixon Advisory and effect on the professional indemnity insurance market could have been far worse, according to Numerisk’s Richard Silberman, if the pro...
Financial planning
Libertas Financial Planning saw its AFSL cancelled this month after the CSLR paid out compensation to a victim; details have been shared on the firm’s mistakes that led t...
Financial planning
A Melbourne financial advice firm has been put into liquidation by the Federal Court, and an appeal against its AFSL cancellation has been dismissed....
Financial planning
The Compensation Scheme of Last Resort’s CEO David Berry has confirmed the number of complaints the organisation is actively working on, with $3.3 million being paid to v...
Financial planning
ASIC has confirmed it was “unnecessary” for the regulator to intensively interview Dixon Advisory advisers about the problems at the firm....
Financial planning
AFCA is considering whether complaints against advice licensee United Global Capital, which saw its AFSL cancelled this week, will be covered by the CSLR and how many com...
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MARKET INSIGHTS
Podcast
Interesting. Would be good to know the details of the StrategyOne deal....
It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...
increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...