Consolidation and rationalisation of the financial services industry to continue....
The unravelling of Storm Financial underscores much of what is wrong in the financial planning industry, writes Paul Resnik....
It's been suggested that while Storm Financial was the largest, it was by no means the only group pursuing its distinctive high fees, high leverage model....
Storm offshoot moves to Brisbane....
Storm Financial illustrates 'need for transparency'....
Financial planning firms left in the cold....
But reliance on fees and commissions spelled end for Townsville group....
Creditors and former staff join clients in grim outlook....
The financial planning industry is facing renewed scrutiny and criticism in the wake of the closure of Storm Financial by voluntary administrators last week...
Storm Financial model had risks, but is not alone....
Business closed with clients being prepared for handover....
While administrators and regulators try to clean up the mess....
Groups discussing next steps....
While Colonial Geared Investments foots impartial advice bill....
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...