ASIC permanently bans former Tasmanian financial adviser

ASIC has permanently banned former Hobart financial adviser Troy Andrew Rodney Williams from providing financial services.

Mr Williams, of Sandy Bay, is a director and former financial adviser at Hobart financial planning business, Directions Wealth Management. Mr Williams was authorised to provide financial advice as a representative of Financial Services Partners Pty Ltd (FSP), a subsidiary of the Australia and New Zealand Banking Group (ANZ).

An ASIC investigation has found that in the period from December 2003 to March 2015 Mr Williams acted dishonestly by providing Financial Services Guides to his clients that contained false statements in relation to his qualifications. The guides falsely stated that Mr Williams held a Diploma of Financial Planning and that he had completed certain courses related to that diploma.

ASIC’s investigation has also found that in December 2014, Mr Williams dishonestly created false certificates purportedly evidencing his qualifications and sent them to FSP.

After becoming aware of his actions, FSP suspended his authority to provide financial advice on 10 March 2015. The authority was subsequently cancelled by FSP on 20 April 2015.

Mr Williams has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

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