ASIC has accepted an enforceable undertaking from a ClearView Financial Advice representative.
Jason Churchill traded as Churchill Consulting Services. ASIC found that he made recommendations to clients without considering their "relevant personal circumstances" and omitted important information from statements of advice.
ASIC also alleged Churchill misrepresented the benefits of level and stepped premiums and "limited the advice in some cases to exclude issues which cannot be reasonably excluded from the scope of advice."
As a result of ASIC's EU, Churchill will undergo further product advice education and be bound to a 12-month probationary period during which each piece of advice will be audited by his licensee.
Financial Standard editor Mark Smith presents a roundup of the week's biggest industry news and executive appointments. In this week's news:
O'Dwyer says life insurance back on the agenda
After being ... Watch video
With an 8-14% per annum return objective over the long term, the Pengana PanAgora Absolute Return Global Equities Fund is clearly managed by a team with investment acumen and a well thought out process.
Broadly ... Watch video
We invite you to watch our latest video featuring the head of ANZ ETFS, Kris Walesby.
In it he introduces a new ETF, due for launch later in July, which tracks the Euro Stoxx 50 index of major companies ... Watch video
We invite you to watch our latest video featuring Bell Direct chief executive officer Arnie Selvarajah.
In the video and accompanying article he explains how easily the increasing number of advisers using ... Watch video
We invite you to watch our latest video featuring Zurich Investments senior investment strategist Patrick Noble.
The question of how to generate a satisfactory return to meet investors' needs is becoming ... Watch video
Get it Daily
FREE to your inbox, get the Financial Standard Daily Email.