Sentry-aligned firm hit with wind-up order

A Sentry-aligned advice firm has received a winding-up order from the Australian Taxation Office, with the licensee saying it will wait for a determination before taking any action.

According to an ASIC insolvency notice, the ATO filed an application to wind up Victoria-based National Financial Planners (NFP) earlier this month. The Federal Court will hear the order in Melbourne on 8 March, the notice said.

In an email to ifa, a Sentry spokesperson said it was aware of the winding-up order and that the case does not involve any clients.

"We are awaiting the outcome of the application prior to taking any action at this time and we remain in regular contact with NFP," the spokesperson said.

"No clients are involved in this court process and we have no reason to believe that the clients of NFP have received anything other than a high standard of service and advice from our advisers."

ifa reported last month that the ATO had also tried to wind up AMP-aligned advice firm Blazer Wealth Management.

An AMP spokesperson said the application was the result of a "business administrative error", and confirmed that the firm has since resolved the issue.

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