ASIC investigation uncovers 7639 clients, $9.8 million in upfront fees
A recent ASIC investigation revealed that lead generation for financial advice gained 7639 clients and generated $9.8 million in upfront fees through 15 licensees by mid-2026. This model, often obscuring true intentions, poses risks as businesses receive hefty commissions for funneling clients, ultimately leading to substantial movement of superannuation funds into higher-risk investments.
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Published 13 Nov 2026, 18:05 UTC · Updated 13 Nov 2026, 18:10 UTC
Summary by OZbrief Editorial. Original report: The Age. Editorial policy · Corrections
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