Former Sydney adviser banned for three years
The Australian Securities and Investments Commission (ASIC) has banned a former Sydney-based financial adviser Jim Pavlidis from providing financial services for three years after a review of his financial advice.
The review of advice from between 2004 and 2018 found that he failed to provide financial advice that was in the best interests of his clients and to keep proper records.
ASIC also found that Pavlidis was not adequately trained and did not have a proper understanding of the requirements to competently provide financial services.
Pavlidis began his career in the financial services industry in 1986 and was most recently an authorised representative of Consultum Financial Advisers from October 2018, but now no longer works in the industry.
Between April 2004 to January 2018 he was part of Meritum Financial Group.
The banning of Pavlidis would be recorded on ASIC’s publicly available Financial Advisers Register (FAR) and the Banned and Disqualified Persons Register.
Pavlidis had the right to appeal to the Administrative Appeals Tribunal (AAT) for a repeal of ASIC’s decision.
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