COMPLAINTS

Financial planning

With less than 5 per cent of Dixon Advisory complaints closed, AFCA has detailed how it is dealing with systemic issues, known as batch matters, through a consistent yet ...

Financial planning

Investment and advice complaints to AFCA dropped by over a quarter in FY24 but inappropriate advice remains the most prevalent complaint afflicting the sector....

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

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

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

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 board of AFCA has appointed Professor John Pollaers for a second three-year term....

Financial planning

Dixon Advisory is to be expelled by the Australian Financial Complaints Authority, preventing any new complaints being made against the firm....

Financial planning

Phil Anderson, general manager for financial advice at the FAAA, believes the CSLR levy could reach $100 million if Dixon Advisory complaints are allowed to continue. ...

Financial planning

Wealth Data’s Colin Williams believes the idea of four financial advice firms failing per year, as put forward in CSLR estimates, is too low an estimate....

Financial planning

AFCA has appointed a senior ombudsman specifically to specialise in Compensation Scheme of Last Resort complaints, with the scheme set to come into force on 2 April. ...

Financial planning

AFCA has already received almost 70,000 complaints since the start of the financial year, and chief executive David Locke has warned this sustained high growth shows the ...

Financial planning

A complex series of factors can cause financial advisers to get caught up in professional indemnity insurance claims – Numerisk’s Richard Silberman shares how to avoid su...

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MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 4 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 2 days ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago