ASIC has banned a former ANZ-aligned financial adviser for acting dishonestly and providing false statements to clients.
Former director and financial adviser Troy Andrew Rodney Williams of Directions Wealth Management, an authorised representative of ANZ-aligned Financial Services Partners Pty Ltd (FSP), has been banned from providing financial services.
An ASIC investigation found that in the period from December 2003 to March 2015 Mr Williams acted dishonestly by providing Financial Services Guides to his clients that contained false statements in relation to his qualifications.
The guides falsely stated that Mr Williams held a Diploma of Financial Planning and that he had completed certain courses related to that diploma.
ASIC’s investigation also found that in December 2014, Mr Williams dishonestly created false certificates purportedly evidencing his qualifications and sent them to FSP.
After becoming aware of his actions, Financial Services Partners suspended his authority to provide financial advice on 10 March 2015. The authority was subsequently cancelled by Financial Services Partners on 20 April 2015.
Mr Williams has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
The ifa Excellence Awards are back in 2021 and nominations are now open! This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021!
The corporate regulator has cancelled the licence of a Queensland based SMSF advice firm that failed to lodge its financial accounts. ...
The Federal Court has issued BT and Asgard penalties of $1.5 million each for charging fees for no service and making misleading statements. ...
The wealth giant has announced a raft of further changes to its advice model, including the conclusion of client register buy-back arrangements for i...