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Showing 51 - 60 of 298 results for shield

Interprac sues AFCA over Shield determination

JAMIE WILLIAMSON  |  TUESDAY, 10 MAR 2026
... issued by AFCA in relation to complaints made against one of its representatives and the advice they provided regarding the Shield Master Fund. The determination related to a client who was a member of the Macquarie Superannuation Plan and lost most ...

Former MWL Financial adviser banned for six years

ELIZA BAVIN  |  TUESDAY, 10 MAR 2026
... interests when she recommended they invest most of their superannuation into the High Growth class or the Growth class of the Shield Master Fund which were high risk investments. ASIC also found Terheci's Statements of Advice contained false and misleading ...

AFCA membership extended for Shield, First Guardian-linked firms

KARREN VERGARA  |  WEDNESDAY, 4 MAR 2026
... Australian Financial Complaints Authority (AFCA) has suspended expelling members in liquidation linked to the collapse of the Shield Master Fund and First Guardian Master Fund. This means United Global Capital (UGC) and Next Generation Advice, which ...

MIS review ignores key issues: FAAA

KARREN VERGARA  |  TUESDAY, 3 MAR 2026
... fresh review into managed investment schemes (MISs) falls short of addressing critical issues that could prevent another Shield Master Fund and First Guardian Master Fund disaster, the Financial Advice Association Australia (FAAA) says. The FAAA highlighted ...

AFCA reveals outcome of final lead decision

MATTHEW WAI  |  MONDAY, 2 MAR 2026
... their existing superannuation into establishing a self-managed super fund (SMSF) and invest in three funds, including the Shield Master Fund. AFCA was told that the firm's advice involved an unnecessary and inappropriate level of risk. UGC took over ...

Future Group to buy Towers Watson RSE licence

JAMIE WILLIAMSON  |  FRIDAY, 27 FEB 2026
... is currently in the process of reviewing its superannuation business following its involvement in the First Guardian and Shield disasters. Willis Towers Watson also ran the Wycomp RSE, but it was closed down last year and no longer holds a licence. It's ...

Research reveals 'alarming spike' in super switching

ELIZA BAVIN  |  FRIDAY, 27 FEB 2026
... personal financial advice or super. "Australians urgently need a comprehensive set of consumer protections, or we risk further Shield and First Guardian-style collapses, which means more Australians losing money they have saved to live on in retirement," ...

AFCA receives record complaints in 2025

MATTHEW WAI  |  THURSDAY, 26 FEB 2026
... more than 634,000 complaints. The increase in complaints was spread across all financial products, including the demise of Shield and First Guardian Master Funds across the financial advice and superannuation sectors, AFCA said. Large-scale collapses ...

Governance issues on the rise: ASIC

ELIZA BAVIN  |  WEDNESDAY, 25 FEB 2026
... through refunds. This includes the court enforceable undertakings that saw Macquarie pay $321 million to around 3000 affected Shield Master Fund investors and Netwealth pay $101 million to more than 1000 affected First Guardian Master Fund investors. ...

Sequoia weighs InterPrac's fate, launches review

KARREN VERGARA  |  TUESDAY, 24 FEB 2026
Following the demise of the Shield and First Guardian master funds, regulatory pressure and being blacklisted from several platforms, Sequoia Financial Group is now reviewing the viability of InterPrac Financial Planning. Sequoia managing director and ...