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Netwealth agrees to $100m First Guardian compensation deal with ASIC

by Keith Ford
December 18, 2025

Netwealth will compensate super members $100 million after admitting to failures related to including the First Guardian Master Fund on its platform.  The firm has struck a deal with ASIC to compensate more than 1,000 Australians who invested their super in First Guardian.  It has also admitted to contraventions of the Corporations Act.  ASIC said it has commenced proceedings in the Federal Court against Netwealth Superannuation Services Pty Ltd (NSS) and Netwealth...

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