An adviser will be excluded from providing financial advice under the terms of an enforceable undertaking (EU) accepted by the corporate regulator.
Former Hart Ensole authorised representative Dean Hartmann has agreed to cease providing financial services for “a period of at least five years” and will be subject to “supervision requirements” when he rejoins the industry as part of the EU.
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.
Amid a growing backlog of superannuation and investment disputes, Shail Singh, AFCA’s lead ombudsman for investments and ...
The SMSF Association has reiterated its stance, asserting that the most equitable and efficient method for funding the ...
Despite industry-wide challenges, regional advice remains a growth area, thanks to its ability to meet local needs and ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin