Good riddance to Tim and his business. They have the exact business model that should never have been allowed to exist. One of my clients received a cold call from them, they took some brief details over the phone, call his super fund in a 3 way call and got him to give verbal authority to access information, then only a couple of days later sent him an email with an FSG, Fact Find, Risk Profile Questionnaire, SOA and North Application forms to sign and return. So the client receives a super switching SOA before they've even signed off on the fact find or risk profile questionnaire.
The SOA included numerous errors and they were charging initial advice fees of over $2k on a super balance of $60k and the whole advice was to switch from FirstChoice Wholesale Super to North using an index High Growth option.
Very glad they've been caught and punished.
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