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Balance of power shifts in...

The article examines the implications of the Judgment of the Supreme Court of Western Australia in Young Investment v QBE for the future conduct of professional indemnity insurers. We acted for the plaintiffs in these proceedings. See Our Article

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Investor recovers $10m Stripe Capital...

This article is about the Supreme Court of WA case Young Investment v QBE. We acted for the plaintiffs and obtained a judgment in excess of $11.2M for them. See Our Article

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Investor who took on banned...

This article is about the Supreme Court of WA case Young Investment v QBE. We acted for the plaintiffs and obtained a judgment in excess of $11.2M for them. See Our Article

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PI blues: WA court orders...

This article is about the Supreme Court of WA case Young Investment v QBE. We acted for the plaintiffs and obtained a judgment in excess of $11.2M for them. See Our Article

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WA investor wins $11.2m payout...

This article is about the Supreme Court of WA case Young Investment v QBE. We acted for the plaintiffs and obtained a judgment in excess of $11.2M for them. See Our Article

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AFCA THE COMING CYCLONE IF...

It is proposed that AFCA’s jurisdiction is to be extended such that it can deal with disputes going back to 1 January 2008. This proposal may have very significant consequences. See Our Article

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Australian Financial Complaints Authority Open...

This article examines the effect of the Hayne Royal Commission on AFCA’s operations and argues that disputes about residential property investment are likely to be a major source of future complaints. See Our Article

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Fees For No Service –...

This article examines the developing scandal concerning fees for no service that have been charged by all of the major financial services providers. See Our Article

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The Coming Storm: The Australian...

This article provides an overview as to how AFCA operates and discusses how it will interact with the court system. See Our Article

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The Australian Financial Complaints Authority...

This article is about the Australian Financial Complaints Authority and the very substantial advantages that this body will offer consumers who have received poor financial advice or who have been unfairly treated by their bank, insurer or the provider of...

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Fraudulent property investment – The...

This is an article about a client who was tricked into a buying a house and land package in Tasmania by a financial planning firm based in Perth. The firm gives the appearance that it is financial planning firm but...

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Comminsure’s continued failure to pay...

This article is about Comminsure’s continued failure to pay out on a TPD claim. CBA, after adverse publicity about its insurance arm, had made public statements to the effect that it was changing its practices but it seemed that there...

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Fake financial planning firms –...

This article is about a firm that gives the appearance that it is a financial planning firm. However, the firm is actually a front for a property development business. Clients go to these types of firms expecting to receive financial...

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Comminsure – failure to pay...

This article is about a client who made a claim for Total and Permanent Disablement against Comminsure that was not paid out despite the fact that the client was clearly unable to work. At this time, information had come out...

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Reading Product Disclosure Statements –...

Product Disclosure Statements contain a wealth of very important information. Investors rarely if ever read them. This article is about why Product Disclosure Statements are vitally important document that need to be given very close attention. The example used is...

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Bad investment loans and mortgage...

This article examines the options to an investor who has made a bad investment loan as a result of maladministration in lending by their bank and/or misconduct by their mortgage broker. It is set in the context of an investment...

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Insurance cover – The West...

Financial advisers are required to hold appropriate professional indemnity insurance cover. This article is about the fact that many financial advisers in contravention of the law either do not hold professional indemnity insurance at all or hold insurance that is...

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Failed forestry scheme leaves investors...

This article is about a very poor agribusiness investment that was made by a client upon the advice of his accountant. The finance was provided by the CBA. See Our Article

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Class actions and time limits...

This article examines the time limits that apply to the making of financial services related claims and how these time limits operate where a person has become involved in a class action. The point of the article being that investors...

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Tax driven investments – The...

This article examines the fact that many poor financial investments are made so as to reduce tax. The investor receives an immediate tax deduction but suffers severe losses later on when the investment performs poorly. The article notes that a...

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Capital protected products – The...

This article discusses the substantial risks that underlay investments in capital protected financial products. These products were marketed as being risk free when in fact there were substantial risks associated with them. See Our Article

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Agribusiness schemes – the role...

This article explores the fact that may investors who lost money as result of investing in an agri-business scheme made the investment on the advice of an accountant. It also examines the issue that poor financial advice that was provided...

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Agribusiness schemes – The West...

This article examines the multiple issued that underlay agri-business schemes that caused many investors to suffer substantial losses. In particular, it examines the way that investors were advised to take out very large loans to make these investments in circumstances...

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Insurance blow for Chambers Creditors...

This article is about Chambers Investment Planners placing itself into administration as a device to defeat its creditors. See Our Article

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FOS Slams Chambers for Poor...

This article is about an adverse Determination that was made by the FOS against Chambers Investment Planners. See Our Article

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Chambers Client Claims Revealed –...

This article is about the type of poor financial advice that Chambers Investment Planners was providing. See Our Article

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AFSL enters administration to dodge...

This article is about a financial planning firm (Chambers Investment Planners) that went into administration in an effort to avoid having to pay multiple FOS Determinations that had been made against it. See Our Article

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Self-managed superannuation funds – The...

This article is about the fact that self-managed superannuation funds are not an appropriate investment for most investors. In particular, it refers to the facts that most investors do not have the necessary level of financial related skills to operate...

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ASIC’s limited resources – The...

This article is about the fact that ASIC has very limited resources. ASIC has a very limited number of staff who are attempting to regulate multiple industries that operate in every part of Australia. Consumers of financial services have to...

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External dispute resolution schemes –...

This article is about how important External Dispute Resolution schemes are for consumers of financial services and why the Government should not be allowed to limit their operations. See Our Article

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Investment forecasts and borrowing to...

This article is about the dangers of borrowing to invest on the basis of forecasts about the future performance of a financial product given by a financial planner. These forecasts are almost always wrong in circumstances where it is certain...

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Read Statements of Advice and...

This article examines why it is very important that clients read Statements of Advice and Product Disclosure Statements that are provided to them. It also makes the point that if a client does not understand what they are reading they...

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Agribusiness – upfront and trailing...

This article examines the relationship between the very poor advice that was provided by agribusiness schemes and the receipt by financial planners of very substantial upfront and trailing commissions when their clients made an investment in these schemes. It is...

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Article Money Management Magazine and...

This is a clearly defamatory article that was intended by persons working in the financial planning industry to discredit my work that I undertake on behalf of clients. See Our Article

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Don’t blame yourself for bad...

Many clients who lose money as a result of bad financial advice blame themselves. In fact, they should blame their adviser and seek compensation for their loss. The point of the article being that many of my clients see themselves...

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Vertical integration – The West...

This article is about the fact that many financial planning firms are owned or controlled by large institutions who distribute financial products. Instead of being unbiased advisers the financial planners at these firms are really acting as salespeople for their...

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Statement of Advice – The...

Statements of Advice are meant to help clients. This article is about the ways that they can actually harm clients’ interests and the things to look out for when reading a Statement of Advice. In particular, clients need to look...

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Financial Services Guides – The...

This article examines why it is important for clients of financial planners to read the Financial Services Guide that must be given to them when they first meet with the financial planner. The FSG is important as it tells clients...

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The Financial Ombudsman Service –...

This article examines the options available to clients who have received poor financial advice to obtain compensation. Clients who have received poor financial advice have many avenues open to them to recover their loss. See Our Article

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