Former Guardian financial adviser hit with two suspended sentences
Former Guardian Financial Planning financial adviser Susan Heathwood has been handed two suspended prison sentences after pleading guilty to two charges of dishonest conduct brought by the Australian Securities and Investments Commission (ASIC).
She was sentenced to 19 months and 22 months imprisonment respectively after pleading guilty in the Downing Centre District Court on 26 June 2012.
According to the regulator, the periods of imprisonment were wholly suspended immediately upon Heathwood entering into a two year good behaviour bond in the amount of $1000.
The Court also took into account her cooperation with ASIC investigators and her early guilty plea.
ASIC's investigation found that Heathwood - who was an employee of Guardian authorised representative Jalee Consulting Group at the time- had falsified 65 insurance applications between August 2009 and May 2011, effectively collecting in excess of $380,000 in commissions. She paid a total of $49,275.22 in premium payments for a number of policies in order to hide the conduct.
A total of $326, 207.59 was retrieved by the insurance companies in the form of writebacks.
The Commonwealth Director of Public Prosecutions prosecuted the matter.
Recommended for you
The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted.
After seven weeks of strong growth, Wealth Data analysis shows financial adviser gains are now tapering off and returning to a regular pace.
Count chief executive Hugh Humphrey has said FY25 was a “milestone year” for the business as it completed its Diverger integration, exceeding targets with $5.1 million in cost synergies.
US wealth manager Focus Financial Partners, which includes Australia’s Escala Partners, has appointed a chief strategy officer to fuel further Australian growth.
