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.
Consumers receiving financial advice have reported less detriment to their menta...
Superannuation funds have been tipped to fill the space in the advice sector lef...
Adviser dealer groups are hampering the ability of financial planning technology...
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.
