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.