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.
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