Damning revelations from Australia’s Royal Commission
By Kirsten Hastings, 27 Apr 18
The second week of Australia’s Royal Commission into financial advice was not a let-down after a jaw-dropping first week. Click through the slides below to see what happened…
The hits keep coming for AMP, with a financial planner advising clients to invest in a business he owned, reports SMH.
Adam Palmer recommended that several of his clients set up self-managed superannuation funds to buy investment properties through a business called Property Saint.
However, he failed to disclose that he owned 60% of Property Saint.
In addition, AMP hired Palmer despite knowing that he had given poor advice at his last company and did not take steps to monitor the advice he was giving to AMP clients.
Tags: AMP | Australia | Royal Commission
