Search Results | Showing 1 - 10 of 79 results for "Poor advice" |
| | | ... polluter pays," Pritchard said. The Financial Services Compensation Scheme (FSCS) paid out nearly £760 million for poor advice by insolvent personal investment firms between 2016 and 2022. This expenditure was primarily caused by 75 firms, accounting ... |
| | | | ... is "almost impossible" to say that these are not factors behind the improvement, he said, adding that weeding out poor advice business models has also helped. Scams, financial difficulty claims on the rise The number of complaints that arose from the ... |
| | | | ... "highly templated and scoped advice provided very quickly to a consumer of dubious quality". "If it turns out that the poor advice was not a once-off mistake, but rather a function of a business model that is not conducive to advice in the best interests ... |
| | | | ... will promote trust in financial advice among consumers - by ensuring that if retail consumers have lost money due to poor advice, there is a compensation mechanism available," FPA chief executive Sarah Abood said. However, the legislation for the CSLR ... |
| | | | ... safeguarding consumers and holding financial institutions accountable for their actions. "When you have lost money due to poor advice or misconduct, you should not be denied compensation simply because the firm that did the wrong thing goes out of business. ... |
| | | | ... investigation of the clients' circumstances before providing the advice, according to ASIC, adding that in some cases, the poor advice resulted in the clients' SMSFs being insufficiently diversified and exposed to risk of capital loss. "Advice ... |
| | | | ... not conduct a reasonable investigation of the clients' circumstances before providing the advice. In some cases, the poor advice resulted in the clients' SMSFs being insufficiently diversified and exposed to risk of capital loss, ASIC said. Justice McEvoy ... |
| | | | ... its scope. "A CSLR promotes trust amongst consumers in our profession, ensuring that if money has been lost due to poor advice, compensation will be available," FPA chief executive Sarah Abood said. "We are concerned however that the scope of this scheme ... |
| | | | ... there is real potential for conflicts of interest. The best interests duty is the only bulwark consumers have against poor advice," Financial Counselling Australia chief executive Fiona Guthrie said. "From time to time, financial counsellors assist people ... |
| | | | ... "evidence suggests the best interests duty has not been more effective than disclosure in protecting consumers from poor advice." Instead, there should be a focus on providing 'good advice'; "A duty to give good advice does place a different ... |
|
