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John Burke
GLOBAL CHIEF EXECUTIVE OFFICER
BENNELONG FUNDS MANAGEMENT LTD
BENNELONG FUNDS MANAGEMENT LTD
Bennelong Funds Management is like a mainline into the jugular of Australia's financial advice sector, with more than 6500 advisers channelling capital to its funds. But its global chief executive John Burke says the job's not done yet. Andrew McKean writes.
Allowing beneficiary members of the Class Action to have a second bite at the compensation trough is wrong. To get to the CSLR the matter has to be an unpaid determination from AFCA.
The EDR schemes were set-up to provide a non-court based avenue for compensation and have been hi-jacked by the ambulance chasers. AFCA's own Terms of Reference effectively ban those who have negaged in legal action from accessing the scheme, but in their usual "the Rules don't apply to us if we feel like it" approach clients of DASS will have a second go at compensation funded by industry particpants that had nothing to do with the fund failures and through a scheme that is using retrospective legislation to include them.
Just another anti-adviser attitude.