The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence for MyPlanner Professional Services.
ASIC said it cancelled the licence because MyPlanner Professional was no longer operating a financial services business and is in liquidation.
In 2017 the regulator imposed additional conditions on MyPlanner Professional’s licence because ASIC was concerned that MyPlanner Professional’s representatives were providing poor financial advice and the licensee was not adequately monitoring and supervising its representatives.
Following this, on 12 February 2020, ASIC suspended MyPlanner Professional’s licence for 10 weeks due to continued compliance concerns.
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Prison time required! My Planner Australia BANNED then My Planner Australia BANNED and the founders now trading under Skyring. BAN THEM NOW ASIC!! These guys invented Phoenixing! How much client money was lost in this disgrace?
So many losers from this debacle. Anvia lost out purchasing this business from the previous owners, the advisers had their business thrown into turmoil, the head office staff are now out of work and tainted by an association with a failed AFSL. Bad outcomes for almost everyone involved. Hats off to the previous owners, you really did a number on pretty much everyone here!
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