Giving hostages to fortune: Licensees, advisers and the ties that bind themBY SEAN GRAHAM | TUESDAY, 12 JUN 2018 2:52PM The end of vertically integrated businesses "The reports of my death are greatly exaggerated" - Mark Twain. Those of us who recently sat, transfixed and unblinking, captivated ... Upgrade your subscription to access this article
Join the growing community of financial advisers
with unlimited access to our latest news, research and analysis of the industry.
Become a premium subscriber today. |
Latest News
Shield investors launch Macquarie class action
|Gordan Legal commenced a class action against Macquarie Investment Management, alleging the investors in the collapsed Shield Master Fund have not been fully compensated for losses affecting their retirement savings.
Sequoia plots potential restructure
|Sequoia Financial Group, the parent company of InterPrac Financial Planning, is conducting a thorough review of all its operating subsidiaries for a potential restructuring.
Paul Chiodo sues Shield-linked City Built, director for $200m
|Former Keystone Asset Management director Paul Chiodo is suing City Built, its director Roberto Filippini, and members of his family, who are tied to the collapse of the Shield Master Fund, for $200 million, alleging they engaged in a wide-ranging scheme that led to substantial property construction ...
Stay up to date with regulatory compliance at the FAAA Congress
The upcoming Financial Advice Association Australia (FAAA) Congress will explore ASIC's key focus for the remainder of the year, while shedding some light on the ongoing developments from the Australian Financial Complaints Authority (AFCA) and the Compensation Scheme as Last Resort (CSLR).
Further Reading
Cover Story
Advice with soul
SACHA BURCHGART
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
Though she initially tried, Sacha Burchgart couldn't escape the call of a career in financial advice; it just took staring down her own mortality to see what's possible when you do things differently. Jamie Williamson writes.
Expert Feed
Stonepoint is another lesson in fund governance and investor protection
The demise of the Stonepoint Capital Fund may have gone under the radar for many, but proves an important point for independent governance when examined.
The importance of purpose-driven team meetings
A purpose-driven meeting can provide "clarity, accountability and engagement" within a financial planning practice.
Not all private credit risk is created equal
Advisers and investors need to look beyond headline yields and assess the structure, security and manager capability behind each strategy.
A never ending story of levies
The extensive processing period for Shield and First Guardian complaints means financial advisers will likely not be able to see an end to a series of ...
Well said - except that in the future world of better perfomance by advicers and licencees - mistakes, negligence and ilegal activity will still happen, as it does in all walks of life. I think that the customer is better served by engaging with a licensee that has the incentive to stay in business and has deep pockets to fix the bad stuff. Even if malfeasance occurs less than before, it only takes one mistake to cause a a large loss to the client - perhaps too large for a small licensee to rectify.