ASIC accepts five-year enforceable undertaking for QLD adviser
Former Hart Ensole Pty Ltd representative Dean Hartmann has agreed to cease providing financial services for a period of five years after failing to act in the best interests of clients, the Australian Securities and Investments Commission (ASIC) confirmed.
An ASIC review of files found Hartmann advised clients to switch insurance arrangements and superannuation funds without adequate reasoning for any benefits, and did not conduct reasonable investigations into his clients’ objectives.
Hartmann, who was formerly based in the south-eastsouth-east Queensland city of Toowoomba will be required to adhere to supervision requirements before his re-entering into the industry after 2022.
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
