يحاول ذهب - حر
Interprac sued over failures
December 01, 2025
|Financial Standard
ASIC is taking Interprac Financial Planning to court over its failure to ensure representatives acted in clients' best interests. It's also been accused of lacking adequate risk management systems.
Together, Interpac representatives Venture Egg and Rhys Reilly Pty Ltd advised about 6843 clients to invest some $677 million into the Shield Master Fund and First Guardian Master Fund.
Of these, Venture Egg and its principal Ferras Merhi advised 2930 clients to invest a total of $243 million in First Guardian and 2664 clients to invest a combined $173 million in Shield. Reilly and his business advised 1396 clients to invest a total of $148 million in First Guardian and a further 1139 clients to invest $114 million in Shield.
Together, this was about 50% of the total super investments made by all of their clients on their advice over a period of about three and a half years, ASIC said. Many clients were advised to invest 100% of their super in First Guardian or Shield.
هذه القصة من طبعة December 01, 2025 من Financial Standard.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
المزيد من القصص من Financial Standard
Financial Standard
Vanguard debuts four new funds
Vanguard expanded its Australian investment range, launching four new investment options in global technology and international high yield in the form of three new ETFs and one unlisted managed fund.
1 min
April 07, 2026
Financial Standard
TIME TO DEPLOY
With more than US$2 trillion expected to be invested into private equity globally in 2026, private markets show no signs of slowing down, but more capital and stiffer competition can lead to higher risk.
9 mins
April 07, 2026
Financial Standard
First Super switches insurer
From April 1, group insurance for First Super members will be provided by TAL.
1 min
April 07, 2026
Financial Standard
Platform funds, mega funds to dominate: Mercer
A new Mercer report predicts platform funds, with a median $250,000 balance, and mega funds, with over $100 billion in assets, will dominate the superannuation landscape and overtake the 'retail versus industry fund' debate.
2 mins
April 07, 2026
Financial Standard
Entireti taps AI to centralise advice data
Entireti is partnering with global financial technology firm Communify to build a digital platform which uses artificial intelligence (AI) to centralise data for its advisers and clients.
2 mins
April 07, 2026
Financial Standard
A wealth of stress
It seems as though there's only two things worth talking about at the moment: the price of petrol, and inflation.
2 mins
April 07, 2026
Financial Standard
Superannuation advertising ban consultation launches
Treasury has begun consulting on banning the advertising of superannuation products when onboarding employees, releasing its draft regulations.
1 mins
April 07, 2026
Financial Standard
Count expands national footprint
Count Financial is set to acquire a financial advice, investments and accounting business with 14 locations across the east coast of Australia.
1 min
April 07, 2026
Financial Standard
MAs increase confidence: Data
Over 40% of advisers agree clients in managed accounts are more confident and are less likely to act impulsively during market volatility compared with those not in managed accounts.
1 min
April 07, 2026
Financial Standard
Severe underperformance sees Polen Capital funds wound up
Montgomery Investment Management has cut ties with Polen Capital, with the latter's responsible entity opting to terminate its funds after five years of underperformance.
1 mins
April 07, 2026
Listen
Translate
Change font size