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Tuesday 14 November 2017

17-382MR Enforceable undertaking excludes Queensland financial adviser for five years

ASIC has accepted an enforceable undertaking (EU) from former Hart Ensole Pty Ltd representative, Dean Hartmann, after it was found that he failed to meet his financial advice obligations when dealing with his clients.

Under the EU, Mr Hartmann has agreed to cease providing financial services for a period of at least five years. Once the five year exclusion period is completed, he will be required to adhere to supervision requirements upon re-entering the industry. 

An ASIC review of client files found that in some instances Mr Hartmann had failed to act in the best interests of clients when he:

  • advised clients to switch insurance arrangements and superannuation funds without being able to demonstrate why this was appropriate; and
  • did not conduct reasonable investigations into clients' objectives for insurance requirements or insurance products.

Mr Hartmann was an authorised representative of Hart Ensole Pty Ltd in Toowoomba, Queensland.

ASIC acknowledges Mr Hartmann's cooperation with ASIC throughout its investigation.

Download the EU.

Last updated: 14/11/2017 12:00