Fallout from financial advice

Federal Court proceedings have been commenced against Dixon Advisory on behalf of a disappointed client. This follows reports that in July 2021 Dixon Advisory entered into a heads of agreement to resolve other Federal Court proceedings (in that case brought by ASIC) for various breaches relating to advice given. It was reported that the heads provide for Dixon to pay penalties of $7.2M and $1M toward ASIC’s costs.

It is important to check on advice from your financial planners and to monitor the performance of assets being managed. Ensure that composition of investments is not creeping into risk areas.

For advice in relation to poor investment advice, please contact Peter Muller at peterm@qbmlaw.com.au