Insurance
[Opinion] Trauma reinstatement/buyback advice to client must be accurate
Thursday 30th of May 2024
The Australian Financial Complaints Authority (AFCA) has ruled that a client be paid A$162,886 because the adviser gave the client incorrect product advice. While this adviser was ‘in-house’ I suspect similar principles would apply to ‘independent’ advisers in similar circumstances.
Very basically:
- the client had previously claimed on her tra...
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