Better use of client information essential to adviser successBY LAURA MILLAN | THURSDAY, 31 JUL 2014 12:30PMFinancial advisers have more information about their clients than almost any other industry and they should be using it to improve their service, netwealth executive director Matt Heine said. Related News |
Editor's Choice
Members' attitude, behaviour key to better engagement
New research suggests superannuation funds need to focus more on attitudinal and behavioural insights if they're to improve engagement.
Australia requires swifter settlement cycle: SIAA
Australia is at risk of getting left behind if it does not adopt the T+1 settlement cycle along with major global financial centres, according to operations experts.
Industry reacts to Federal Budget
Treasurer Jim Chalmers handed down the Federal Budget last night. Here's how the industry has reacted.
Budget 2024: Regulators given boost to combat misconduct, cybersecurity
The government will provide $17.3 million over four years to ASIC and APRA to combat greenwashing and other related financial misconduct and help further develop Australia's sustainable finance market.
Products
Featured Profile
Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
This is completely absurd, the Corporations Act has been there for a long time and clearly states the obligations a financial adviser has to their clients and the procedures when recommending or switching products. Unauthorized transactions, switching into high risk products, misleading deceptive conduct and other fraudulent criminal activities can only happen when the procedures of the Corporations Act is not adhered to.
So the question remains, how do immoral and illegal conduct and known by the adviser at the time as dishonest conduct in relation to ordinary people occur?
Are we not missing the point here? People didn't lose money because the adviser didn't know their clients well enough......they knew very well that their clients were naive and trusting and used that to their financial advantage. The Corporations Act is already there, if the rules and laws were adhered to perhaps the financial damage to clients would have been substantially less. So who oversees these laws are being adhered to, and who enforces the Corporations Act and the laws?