Royal Commission
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Hon. Bernie Ripoll on the Royal Commission

Consumer Advocate Bernie Ripoll on the Banking Royal Commission.

Hon. Bernie Ripoll on the Royal Commission
Media Release, Bad Financial Advice
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MEDIA RELEASE: Royal commission not the answer ...

The Turnbull government’s Royal Commission is putting the financial services industry under the spotlight, with many people wondering what to do if they have been a victim of bad financial advice. 

MEDIA RELEASE: Royal commission not the answer to recovering lost investments
Media Release, Financial Planning
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MEDIA RELEASE: What To Expect From Your ...

With the Royal Commission into the banking sector confirmed, it’s refreshing to know some financial industry professionals still put their clients’ interests first.

MEDIA RELEASE: What To Expect From Your Financial Planner

Investment Scam

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ASIC slaps 7-year ban on financial adviser

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ASIC slaps 7-year ban on financial adviser

The review found that Mr Shapter provided inappropriate switching advice by recommending that clients switch out of their existing superannuation and insurance products, and into higher fee-paying products. 

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ASIC permanently bans former NSW financial adviser Nicholas Ellis

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ASIC permanently bans former NSW financial adviser Nicholas Ellis

ASIC has permanently banned former financial advisor Nicholas Ellis, of Valentine, NSW, from providing financial services and engaging in credit activities.

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Banking royal commission leads to first conviction — Dover Financial boss Terry McMaster

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Banking royal commission leads to first conviction — Dover Financial boss Terry McMaster

Failed firm Dover Financial Planning, and its sole director Terry McMaster, were convicted in the Federal Court of false and misleading conduct.

ASIC alleged Dover imposed a misleadingly titled "client protection policy" on its clients, which in fact offered greater protection to the firm itself.

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ASIC hands down 6-year ban over dodgy SMSF advice to Jihad Soleiman

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ASIC hands down 6-year ban over dodgy SMSF advice to Jihad Soleiman

Mr Soleiman, an authorised representative of Apogee Financial Planning Limited (Apogee) during the period June 2013 to February 2018, had been approached by clients about SMSFs for the purposes of either investing into property or property development companies.

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Adviser, Lawrence, O'Neill, banned by ASIC for five years

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Adviser, Lawrence, O'Neill, banned by ASIC for five years

The surveillance relates to the period in which Mr O’Neill was an Authorised Representative of Godfrey Pembroke and Wealthsure Financial Services. ASIC found that he failed to comply with financial services laws and wasn’t adequately trained.

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Property investors lose hundreds of thousands of dollars through unregulated real estate advice

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Property investors lose hundreds of thousands of dollars through unregulated real estate advice

“We know that property prices go up and they go down, we know that superannuation should be a diversified portfolio, so across a spread of different assets, and if you're holding a single asset in your retirement fund then you are exposing yourself to significant risk.”

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ASIC bans Queensland financial adviser

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ASIC bans Queensland financial adviser

The Australian Securities and Investments Commission on Thursday said that Ian Victor Haisman of Beenleigh had been providing templated advice not tailored to his clients' individual circumstances, needs and financial goals.

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EXPOSÉ: This Year’s Biggest Investment Scam

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EXPOSÉ: This Year’s Biggest Investment Scam

 

Over the last few years there has been a steep increase in the number of people being poorly advised to put their retirement savings into a Self-Managed Super Fund (SMSF) and then borrow to invest into off–the-plan property.

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ASIC permanently bans Gold Coast financial adviser Mr Satvir Singh Birk

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ASIC permanently bans Gold Coast financial adviser Mr Satvir Singh Birk

ASIC has permanently banned Gold Coast based financial adviser Mr Satvir Singh Birk from providing financial services.

ASIC Permanently Bans Perth Financial Adviser - Mr Robert Hutchison

ASIC Permanently Bans Perth Financial Adviser - Mr Robert Hutchison

ASIC has permanently banned Mr Robert Hutchison, of Lower Chittering in Western Australia, from providing financial services.