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
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...