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Thursday 21 March 2019

19-061MR ASIC permanently bans former Financial Wisdom advisor

ASIC has permanently banned Ms Anneliese Ada Willmott, a former financial advisor from Victoria, from providing financial services.

Ms Willmott is a director of Polaris Financial Services Pty Ltd and was an authorised representative of a Commonwealth Bank of Australia-owned financial planning firm, Financial Wisdom Limited, from 12 November 2015 until 10 August 2017.

ASIC found Ms Willmott had:

  • engaged in dishonest, misleading and deceptive conduct by forging client signatures, using false documents and back-dating documents;
  • deleted records to conceal misconduct;
  • falsely declared to have witnessed signatures on Death Benefit Nomination Forms and arranged for others to backdate and falsely witness these forms, and
  • failed to provide Statements of Advice to clients.

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

Background

ASIC's investigation into Ms Willmott's conduct followed notification from Financial Wisdom Limited.

Last updated: 21/03/2019 12:02