Dixon

Financial planning

AFCA enacts 93% rise in member expulsions

The number of members expelled from the Australian Financial Complaints Authority almost doubled between 2023 and 2024, according to internal data. ...

Financial planning

FAAA calls for Dixon compensation to be expanded beyond advice

The FAAA’s Phil Anderson believes the problem with Dixon Advisory is “much bigger than an advice issue” and the levy to pay for it should be expanded beyond the financial...

Financial planning

Advice acquirers urged to prepare for potential compensation

In an environment of M&A, CA ANZ has stated any company looking to acquire an advice firm should be prepared to bear responsibility for any compensation to aggrieved clie...

Financial planning

Federal Court gives verdict on Dixon Advisory director Ryan

The Federal Court has given a verdict on ASIC’s case against Dixon Advisory director Paul Ryan which had alleged he breached his director duties....

Financial planning

‘No blanket rule’ in assessing large-scale advice complaints

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

How many Dixon complaints has AFCA processed?

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

‘Mere disclosure is not enough’: Avoiding conflicts of interest breaches

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

The ‘stroke of luck’ with Dixon collapse

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

Advisers given 5 weeks to submit to Dixon inquiry

The final terms of reference for the Dixon Advisory inquiry have been released by the Senate economics references committee, and advisers have just over five weeks to mak...

Financial planning

Exploring the areas where AFSLs come unstuck

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 AF...

Financial planning

Inquiry into Dixon Advisory approved by Senate

An inquiry is due to probe the collapse of Dixon Advisory and its impact on the Compensation Scheme of Last Resort....

Financial planning

FAAA ramps up pressure for Dixon public inquiry

The Financial Advice Association Australia has written to every member of Parliament to press the case for a public inquiry into the Dixon Advisory collapse and the CSLR....

Financial planning

‘Unnecessary’ for ASIC to interview Dixon advisers

ASIC has confirmed it was “unnecessary” for the regulator to intensively interview Dixon Advisory advisers about the problems at the firm....

Financial planning

Will UGC cause the next CSLR advice levy increase?

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...

Financial planning

FAAA’s Anderson questions Dixon Advisory secrecy

The FAAA’s Phil Anderson has written an open letter calling for a public inquiry to uncover why the case of Dixon Advisory has been so closely guarded given the high volu...