AMP-aligned firm gets wind-up order
Another AMP-aligned advice firm has been added to ASIC's insolvency list after the Australian Taxation Office filed a winding-up order against the firm.
According to ASIC's notice, the ATO filed an application to wind up Victoria-based Blazer Wealth Management on 5 January. The Federal Court will hear the order in Melbourne on 5 February, the notice said.
Blazer's director, Tony Blazevski, has been licensed by AMP Financial Planning since 2004, ASIC's adviser register shows.
Speaking to ifa, an AMP spokesperson said the wind-up order was the result of an administrative misstep.
"Blazer Wealth Management is working with the ATO to resolve a business administrative error, unrelated to client service," the spokesperson said.
"The firm continues to operate as normal."
ifa reported yesterday that a former Genesys-licensed firm, which went into liquidation six months ago, may not be able to compensate all of its creditors.
In July, former AMP-aligned Murray River Financial Services went into liquidation. ASIC's register shows the firm's director, Colin Smith, is no longer licensed by AMP Financial Planning.
IOOF announces new CEO
IOOF has appointed a permanent chief executive following the resignation of Chri...
Class action against Evans Dixon under consideration
A law firm has signalled intentions to launch a class action against wealth mana...
BT executive appointed to FSC board
The Financial Services Council has brought on a BT general manager with 25 years...