An Australian Securities and Investments Commission (ASIC) investigation has led to provisional liquidators being appointed to two Townsville-based companies — Understanding Retirement and N.F. & J.M. Dodd & Associates — in a bid to protect the interests of investors.
It is alleged that as an authorised representative of FTL Financial Advice, Neil Dodd recommended his clients purchase shares in Understanding Retirement, which he is a director of.
ASIC believes that some of the investors were never issued their shares and that some were dealt with inappropriately.
A court will determine on August 27 whether Understanding Retirement and Dodd’s other company, N.F. & J.M. Dodd & Associates, are to be wound up.
