ASIC bans Tasmanian adviser for five years
The corporate regulator has banned David Horton from providing financial services for five years after finding that he was not competent and not adequately trained.
The Australian Securities and Investments Commission (ASIC) found Horton, who was an authorised representative of Meritum Financial Group, failed to provide financial advice that was appropriate and in the best interests of his clients and keep proper records.
ASIC found Hobart-based Horton provided a number of clients with inappropriate advice to double gear their investments while disregarding the clients’ relevant personal circumstances, cashflow position or ability to cover margin calls.
In 2017, Horton moved from Meritum to an administrative role at FF Planning Solutions and provided unlicensed advice to some clients.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.
