CBA dealer group lawsuit gets green light
Shine Lawyers has confirmed it will pursue a class action litigation suit against CBA licensee Financial Wisdom and the bank itself, seeking more than $200 million in damages.
The lawsuit will allege that inappropriate advice was given to more than 3000 clients of former Financial Wisdom authorised representative Meridian Wealth and may see the parent company forking out more than $200 million in compensation, said the firm in a statement issued today.
The firm is calling on affected former clients to get in touch.
The announcement comes as ifa reveals one former Financial Wisdom authorised rep has jumped ship to a non-aligned licensee.
More to come.
Viridian vows independence after Westpac exit
Viridian Financial Group has vowed to maintain its independence from Westpac, wi...
CBA could retain advice business: Morningstar
A longer-term revision of the merits behind the Commonwealth Bank’s demerger o...
Class action against former AFSL finishes
Around $1.5 million has been paid to about 200 investors in one of multiple clas...