Employee theft leaves clothing store bare
Did Dylan ask his broker to arrange employee theft insurance?
Topic: Financial advisers and brokers
Employment dispute leads to insurance dispute
Did this broker provide financial services with the care, diligence and skill of a reasonable financial adviser?
The authorised financial adviser and the un-authorised disclosure
An authorised financial adviser (AFA) advises his clients to invest in real property and refers them to a building company. The building company experiences severe difficulties and is placed into liquidation causing the clients loss. We investigated whether the AFA was responsible in any way for those losses.
Traumatic times when buying back insurance
Failure to buy back insurance causes trauma insurance cover to cease.
Frightful fee for foiled finance
Terence tried to arrange finance to save his factory. Terence signed a loan agreement but decided not to draw down the funds as it would not be enough to pay off the mortgage debt over the factory. Later, when selling the factory, Terence found that the lender he was to draw down the loan from had registered a caveat against the property to secure payment of lender and broker fees. Terence had to pay $44,000 to get the caveat removed. Can Terence’s lender and broker charge fees for a loan that was arranged but never drawn down?
Loan refinancing costly and stressful
A mortgage broker charged a high fee, provided substandard service and made errors causing the clients considerable stress, and additional costs
Fixed term locks-in homeowner’s anger
Anna and Tony believed their mortgage broker had not followed their instruction to fix their interest rate for two years. Instead their interest rate had been fixed for four years. Anna and Tony were unhappy as their bank’s floating rate had now fallen below their fixed interest rate. Anna and Tony made a complaint but was their sufficient evidence to show the mortgage broker had not followed their instructions?
“Please share your intentions for my shares with me”.
George owned some shares which were managed on his behalf by an investment adviser. The adviser sold George’s shares in two companies at what George considered was an inopportune time. Did the adviser act outside his authority?
The growth fund that shrank
Steven invested $8,000 in a growth fund only to discover it was worth $7,000 20 years later.
To what extent am I responsible for my broker’s actions?
Barry wanted to refinance in order to purchase a new business. He used a mortgage broker who went to another broking firm to seek finance. Barry signed the broking firm’s mandate setting out their terms and fees. Barry did not accept the loan finance arranged by the broking firm. Did Barry to have to pay the broking firm a fee?
