- Former PIS Adviser Charged With Fraud
- Scaled Advice Provider Rebrands and Expands
- Synchron Soft Skills Program Marks First Decade
Former PIS Adviser Charged With Fraud
A former accountant and financial adviser has been charged with five counts of fraud relating to $800,000 of client funds after an appearance in a Queensland court.
The former adviser and accountant, Satvir Singh Birk, aged 40, of Reedy Creek on the Gold Coast, Queensland appeared in the Southport Magistrates Court on 4 July following an investigation by the Australian Securities and Investments Commission (ASIC).
ASIC alleges that Birk, who was an authorised representative of Professional Investment Services (PIS) from 2007 to 2014, dishonestly caused a detriment to numerous clients between the period of September 2010 and October 2011.
At the time of events Birk was a partner with Sa & Birk Accountants Pty Ltd and the Carter Group Pty Ltd, which are located in Brisbane and the Gold Coast but ceased with role with both group and his authorised representative role with PIS in April 2014
Following the hearing, Birk was released on various conditions, including that he reside at his current address and notify the Commonwealth Director of Public Prosecutions (CDPP), which is prosecuting the matter, of any change of residence.
The matter was adjourned until 1 August 2016. The charges against Mr Birk carry a maximum penalty of up to 12 years imprisonment.
Scaled Advice Provider Rebrands and Expands
Phone-based superannuation advice provider Money Solutions will be rebranded as Link Advice from 1 July 2016, bringing its branding in line with parent company the Link Group.
Link Advice has been in operation since 2004 and is currently the largest provider of phone based scaled advice solutions in Australia, delivering over 35,000 pieces of advice a year via 65 phone advisers to members of 15 major superannuation funds.
Link Advice, Chief Executive, Ross Bowden said the new name reflected the expansion of the group’s advice offering which was moving beyond intra-fund phone advice to a holistic offering including digital solutions, and increased access to face-to-face advice services.
Bowden said the level of advice provided would increase in volume and shift to focus on retirement and helping funds retain members as they retire and super funds had to explore new advice offerings or be left behind.
“Scaled financial advice is no longer just a bolt-on for superannuation funds, it is an integral part of member engagement and member services. Super fund members in the future will access advice at the moment they need it, via the channel they choose, and Link Advice is committed to making this happen,” Bowden said.
Synchron Soft Skills Program Marks First Decade
Non-aligned financial advice group Synchron will mark the tenth years its soft skills programs for advisers under 40 has been in operation, at the program’s annual conference in Alice Springs.
The NextGen program, established by Synchron in 2006 and open to its advisers and sales executives under 40 years of age, has been part of the group shifting the average age of a Synchron adviser from 59 in 2006 to 48 at present, the group stated.
The conference will focus on developing in advisers the soft skills of client interaction as well as building relationships between advisers and sales executives in the group.
Synchron, director, Don Trapnell said NextGen was known for challenging young professionals physically, mentally and emotionally with this year’s key speaker at the conference – Brad Tonini – coaching delegates in how to increase sales in challenging times, developing a sales culture and selling for non-sales people.
