Former Adelaide adviser faces court
Former investment adviser and principal of Golconda Resources, Mark Taylor, has appeared in court on 65 charges relating to failed Queensland investment scheme Wattle Group.
This follows his arrest and subsequent extradition from Malaysia through a bench warrant issued in 2002 after he failed to appear in court for the same charges in July 2001.
The Wattle Group was an unlicensed investment scheme that raised more than $160 million from over 2,700 investors across Australia until 1998 when the Australian Securities and Investments Commission (ASIC) took action to wind up the scheme.
Taylor faces seven charges relating to money paid by investors to the Wattle Group, 56 charges relating to money paid to Golconda Resources, and two charges of fraudulently inducing a person to deal in securities between October 1995 and April 1998.
Taylor has been remanded in custody to appear again on March 26.
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
