Former Australian Securities and Investments Commission (ASIC) deputy chair Peter Kell is joining a panel on licensee reporting set up by Adviser Ratings, his first role since departing the regulator last year.
The licensee ratings commission is the first time the organisation has taken a position and conducted ratings itself.
Kell joined ASIC in 2011 and was appointed as deputy chair in 2013 before resigning from the organisation last September, eight months before the end of his extended term.
During his time at ASIC he was heavily involved with the financial services royal commission, led legal cases against Westpac and National Australia Bank and was a key driver of financial sector policy.
Prior to joining ASIC, Kell previously led consumer group CHOICE and was deputy chair of the Australian Competition and Consumer Commission (ACCC)
Also joining the committee was Jerry Parwada, a professor of finance at the University of New South Wales, as chairperson and Janice Sengupta, former chief investment officer Asia Pacific at AON.
Comments
Me thinks they are investing WAY too much into this business! I wouldn't touch it with a barge pole. Rating Licencees really? No wonder you need to crowdfund this crap , no lender would touch it. Get a real job you bunch of bludgers instead of hanging off the industry. Bunch of bottom feeders.
I bet you they will join forces with Choice Magazine again. This will be an avenue to take commissions/referrals fees combined with activism against Advisers and Mortgage Brokers doing the same.
who died and made this mob king..just another business leaching off financial planners...make the most of it, we won't be here much longer and all the leaches will have to find a new blood source.
They are trying to eliminate you so they control the revenue stream and the value created.
Another reason I am glad to have pulled my profile from that website. Kell did not demonstrate any genuine understanding of the advice profession in his time at ASIC. The profession is now in a death spiral, with the big institutions circling like vultures. I feel sorry for all of the advisers who are so desperate for new business that they allow themselves to be exploited by a group like this.
How do you get removed from their website?
Shoot them a email, then make sure you check that they have actually done it. I asked to be removed way back when they first started. I will not allow these guys to make a living off me.
[email protected]
Should we watch out for a jv with Choice magazine complete with a loan referral system like finder.com.au? Why did Choice campaign so strongly against financial advisers and mortgage brokers? - so they would be hamstrung by fee-for-service? - and didn’t campaign against lender referral programs - so they could continue to collect referral fees?
Please Adviser Ratings, if you want to be believable, only recruit staff who understand the industry, not a bureaucrat who enjoys nothing but red tape.
Remember this in the context of ASIC funding CHOICE.
Kell was a bad egg back in ASIC days, who had no trouble presenting unfounded information, intentionally misleading parliament and the Royal Commission on multiple occasions in order to look good or else crucify the planning profession, as well as put a 400 strong AFSL into forced termination regardless of public, client & businesses impacted all to justify his own agenda.
But clearly he is qualified and ethically suited to sit in judgement of us all! I think political leanings and being a team player of union fund narratives is more the key to this appointment.
Was actually contemplating joining this group until I read this! Despite whatever he said to get the job, Kell is the most vehement anti-planner around and set our profession back 25 years with regard to constructive regulation and appropriately looking after clients.
At our AFSL online conference recently this topic of Adviser ratings came up and at least 50 advisers voiced exactly the same thing about not joining while Kell is around.
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