Commonwealth Financial Planning Compensation Investigation

Following an investigation by the Australian Securities and Investments Commission (ASIC), Commonwealth Financial Planning (CFP) is compensating clients who received inappropriate or negligent financial advice from one of its financial planners.

As part of the compensation program:

• An independent expert will be appointed to oversee the implementation of the client remediation program and assess the fairness of compensation offers.

• Client files are being reviewed to identify individuals who suffered financial loss due to poor advice.

• CFP has committed to supporting clients in seeking independent legal, accounting, or financial advice before accepting any compensation offer.

Why Independent Advice Matters

While it’s encouraging to see CFP take steps to remediate affected clients, you should not rely solely on the institution that caused the loss to determine what your compensation should be.

At Dolman Bateman, we have conducted numerous successful investigations into negligent and inappropriate financial advice. Our independent assessments often reveal that:

• The true financial loss is underestimated.

• The compensation offer fails to account for interest, opportunity cost or tax impact.

• Clients are unaware they have grounds to claim more.

Protect Yourself, Get an Independent Review

If you’ve received a compensation offer from Commonwealth Financial Planning, you may be entitled to more than what’s being proposed.

We can:

• Review your original financial advice and file history.

• Calculate your actual loss using forensic accounting techniques.

• Help you determine whether the compensation is adequate.

• Support you in seeking further redress if necessary.

Next Steps

If you’ve been affected by inappropriate advice from CFP or another financial institution, don’t settle without independent advice.

📞 Contact Dolman Bateman today for a confidential consultation and expert assessment of your compensation offer.

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Disclaimer:

The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.