Financial Planning Investigations
Dolman Bateman have been involved in a numbers of matters involving litigation against financial planners, investment advisors and investment companies in relation to the provision of financial advice.
Some of the problems encountered with financial planners:
- Conflicts of interest – the financial adviser is associated with the product choice for the investor.
- No fact finder has been prepared for the adviser to gain knowledge of the investor.
- No investment profiling prepared for the individual investor.
- Investments made contrary to profile and inappropriate to investor.
- Use of inappropriate tax-driven products.
- Investor not provided with appropriate information about the products they were being put into or provided with information they could not understand – ie not in layman’s terms.
- Advice given without regard to capital gains tax, stamp duties, income tax, superannuation fund regulations.