Statement of No Advice
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 [...]
Financial Advisers Duty of Care
Having lost money through the investments made by your financial adviser does not necessarily represent bad or negligent advice.
Financial Planners are hurting.
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.
Using the Internet for Litigation Research
We use Google and the internet as a valuable research tool in almost all our forensic accounting litigation matters. The information available enables us to check the stories of both the plaintiff and defendant against other sources of information.
Holiday Home into Superfund – Financial Planning Litigation
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.
Financial Planning: Dolman Bateman investigates
Fiona Bateman of Dolman Bateman & Co, Forensic Accountants was recently interviewed by Stuart Washington of the Sydney Morning Herald, in relation to the conflicts associated with providing financial and investment advice where the industry is structured to sell products rather than advice.