Fiona Bateman

Commonwealth Financial Planning Compensation Investigation

by Fiona Bateman 23 November 2010

Commonwealth Financial Planning (CFP), is to compensate clients who received inappropriate financial advice from one of their financial planners following an ASIC Investigation. CFP will appoint an independent expert to review the implementation of the client compensation program and the compensation offers. CFP is also reviewing client files to identify individuals who have been adversely affected and where inappropriate advice [...]

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Average Weekly Earnings for Construction Workers in Personal Injury Claims

by Fiona Bateman 3 November 2010

Based on approximately 33 years’ experience in the building industry – as a director of a building company, providing taxation and business advice to a number of building industry clients, and providing forensic services relating to the building industry – it is my opinion that the Australian Bureau of Statistics data is not representative of many workers in the building industry for the following reasons: [...]

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Statement of No Advice

by Fiona Bateman 27 January 2010

We have been amazed at the number of people who are being asked to sign a “Statement of No Advice” by their financial Advisors. Why would the advisors ask you to do that? They don’t have to take responsibility for their advice.  If they don’t want to take responsibility why would you trust them? They don’t have to disclose how [...]

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Financial Advisers Duty of Care

by Fiona Bateman 5 November 2009

Having lost money through the investments made by your financial adviser does not necessarily represent bad or negligent advice.

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Financial Planners are hurting.

by Fiona Bateman 30 October 2009

The collapse of Timbercorp’ Great Southern has hurt Financial Planners. Asset – The Financial Planning Professional Magazine editor stated that Professional Investment Services Ltd (PIS) did not throw an end of financial year party as they have missed out on more than $15 million in advance commissions from the sale of the agribusiness managed investment schemes.

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The Dangers of Commissions – Financial Planning Negligence

by Fiona Bateman 13 August 2009

A number of recent high profile scheme collapses like Timbercorp and Great Southern have highlighted the danger of commission based investments where there is a conflict of interest between the investor and the financial planner.

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Holiday Home into Superfund – Financial Planning Litigation

by Fiona Bateman 29 July 2009

Another instance of bad financial planning advice that we have come across recently, where the advisor gave advice without any regard to capital gains tax, stamp duties, income tax and superannuation fund regulations.

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