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AFCA
Financial planning
A compliance expert has shared three tips that financial advisers can learn from the mistakes of Dixon Advisory, based on the firm's AFCA determinations. ...
Financial planning
AFCA has told a parliamentary joint committee that it is insufficient for financial advisers to not thoroughly check whether a person qualifies as a wholesale investor gi...
Financial planning
The fallout from Dixon Advisory and effect on the professional indemnity insurance market could have been far worse, according to Numerisk’s Richard Silberman, if the pro...
Financial planning
Libertas Financial Planning saw its AFSL cancelled this month after the CSLR paid out compensation to a victim; details have been shared on the firm’s mistakes that led t...
Financial planning
A Melbourne financial advice firm has been put into liquidation by the Federal Court, and an appeal against its AFSL cancellation has been dismissed....
Financial planning
The Compensation Scheme of Last Resort’s CEO David Berry has confirmed the number of complaints the organisation is actively working on, with $3.3 million being paid to v...
Financial planning
ASIC has confirmed it was “unnecessary” for the regulator to intensively interview Dixon Advisory advisers about the problems at the firm....
Financial planning
AFCA is considering whether complaints against advice licensee United Global Capital, which saw its AFSL cancelled this week, will be covered by the CSLR and how many com...
Financial planning
The 2023–24 financial year saw over 105,000 financial complaints filed to AFCA, with its chief ombudsman expressing disappointment in the 9 per cent year-on-year rise....
Financial planning
The Australian Financial Complaints Authority has confirmed that Dixon Advisory is no longer a member, with some 2,773 complaints having been received by the expulsion da...
Financial planning
The Compensation Scheme of Last Resort has made its first payouts to victims since launching in April, with three claimants having been the victims of poor financial advi...
Financial planning
Former dealer group Libertas Financial Planning has given notice to AFCA to cease membership of the body’s external dispute resolution scheme, meaning victims will no lon...
Financial planning
The board of AFCA has appointed Professor John Pollaers for a second three-year term....
Financial planning
AFCA has told the Senate economics committee that alleged losses from Dixon Advisory clients are an estimated $458 million while outlining the concerns it is observing in...
Financial planning
Former ASIC deputy chair Peter Kell is to chair the Australian Financial Complaints Authority’s consumer advisory panel....
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Podcast
The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...