Adviser excluded from practicing under EU
An adviser will be excluded from providing financial advice under the terms of an enforceable undertaking (EU) accepted by the corporate regulator.
ASIC found Mr Hartmann has “failed to meet his financial advice obligations” and failed to act in clients’ best interests.
The regulator said Mr Hartmann failed to conduct “reasonable investigations” into clients’ insurance requirements or relevant products, and had recommended some clients switch their insurance without demonstrating why it was appropriate to do so.
The regulator acknowledged “Mr Hartmann’s co-operation” throughout the investigation.