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Showing 1 - 10 of 44 results for "Investments and advice"

'No benefit in switching super': AFCA finalises FSGA lead decision

RIDDHIMA TALWANI  |  TUESDAY, 27 JAN 2026
... and provide appropriate, well supported financial advice. That did not happen here," AFCA lead ombudsman investments and advice Shail Singh said. Singh noted that the adviser did not make adequate inquiries into the complainant's circumstances, failed ...

AFCA streamlines approach to over 1800 Shield, First Guardian complaints

MATTHEW WAI  |  MONDAY, 22 DEC 2025
... complaints filed in relation to the collapsed schemes has increased to more than 1800, AFCA lead ombudsman investments and advice Shail Singh said in the update. Hence, adopting a lead decision approach is needed to resolve large numbers of similar complaints ...

Super moves: Aware, VFMC, CareSuper, UniSuper, NGS

ELIZABETH FRY  |  THURSDAY, 18 DEC 2025
... in emerging technologies including AI will serve our members well as we continue to innovate in service, investments and advice for their benefit," McLoughlin said. McLoughlin thanked outgoing director Patricia Faulkner for contribution over the past ...

1659 First Guardian, Shield complaints reach AFCA

KARREN VERGARA  |  MONDAY, 8 DEC 2025
... funds. The number of AFCA complaints grew by 100 from early November. At the time, AFCA lead ombudsman for investments and advice Shail Singh said while 1559 was a big number, he was concerned that AFCA had not received more given the total number of ...

Complaints still too high: AFCA annual review

ANGELIQUE MINAS  |  THURSDAY, 23 OCT 2025
... review shows that in FY25, and for the second consecutive year, more than 100,000 complaints were lodged. In investments and advice, large scale collapses in the financial advice industry contributed to high volumes of complaints against advisers and ...

Super risks continue as advice gets all clear

ELIZA BAVIN  |  FRIDAY, 17 OCT 2025
... said. Despite ongoing issues in the superannuation sector, AFCA said it noted no systemic risks within the investments and advice industry. "AFCA did not confirm any systemic issues in the investments and advice product area in the past two quarters. ...

Investments, advice complaints jump 18%

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... There was a whopping 95% rise in complaints involving SMSFs to 1323, comprising one third of complaints in investments and advice. Complaints alleging failure to act in the client's best interest rose 124% to 1266. "What we're seeing in complaints ...

AFCA urges adviser clarity on SMSF wholesale investor test

KARREN VERGARA  |  MONDAY, 23 JUN 2025
... the fund's asset base is below $10 million, AFCA lead ombudsman Shail Singh and senior ombudsman for investments and advice Patrick Hartney say. "AFCA applies the law as it stands. This is spelled out in the Corporations Act, where Section 761G (6) ...

AFCA highlights 'pattern of delays' in super

ELIZA BAVIN  |  TUESDAY, 29 APR 2025
... failures, and proactively invest in technology and staffing to meet compliance standards. Meantime, within investments and advice, only one common systemic issue was observed by AFCA, being firms not complying with customer instructions and cooling-off ...

ASIC asks for input on reportable situations, IDR dashboards

JAMIE WILLIAMSON  |  THURSDAY, 10 APR 2025
... accounting for three times more complaints than the second most common issue. The top three reasons for investments and advice complaints were service-related issues (45%), general service delay (14%), and technical problems (9%). Interestingly, the ...
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