Recommendation - 5 May 2016

Key issues: Financial advice | financial planning | appropriateness of advice regarding geared investments | appropriateness of advice to establish a self-managed superannuation fund (SMSF) | appropriateness of advice regarding investments within SMSF


The representative of the FSP recommended that the consumers establish geared investments, establish an SMSF and make certain investments within the SMSF. We found that the representative did not establish a reasonable basis for any of the advice and recommended that the FSP pay the consumers compensation of $167,317. The FSP accepted our Recommendation and paid the compensation.

Follow this link for a full copy in PDF >> Recommendation | 5 May 2016