Taking a templated approach to financial advice has seen a monetary adviser banned from supplying financial offerings by the Australian Securities and Investments Commission (ASIC) for five years. ASIC observed Frazer Jon Muscat, who worked at Bristol Street Financial Services Pty Ltd in Beenleigh, QLD, between August 2010 and December 2018, failed to recall his clients’ character occasions as he used a template for all clients. This ‘insurance needs calculation template’ advocated his customer’s practice for degrees of coverage, which turned into better than their wishes. ASIC said many cases were ‘at entire odds’ with clients’ objectives and needs.

Related News:

ANZ complies with ASIC enforcement
Law Council fires warning shot at ASIC’s Crennan

He additionally switched superannuation debts of some clients from one company to any other without investigating their existing arrangements or demonstrating why the transfer would be of their first-rate interest. Lastly, ASIC stated he didn’t recommend different areas requested by his clients along with debt discounts, alternatively focusing completely on insurance and superannuation.

ASIC commissioner, Danielle Press, stated: “When imparting personal advice, ASIC expects economic advisers to take affordable steps to recognize their customers’ personal occasions, desires, and goals before making any hints. “Advisers have a criminal duty to act inside the high-quality pastimes in their clients always and, because patron instances frequently range appreciably, the usage of a templated method will not produce the maximum appropriate advice tips in all times.”


Are you exciting about finding out how God desires you to handle your cash? Sadly now, not many people recognize how to manage their money correctly. For example, do you ever plan to have so much money employing a set date, but you are still suffering along with your budget? The fundamental cause is that humans do no longer understand how to control their money correctly. For your cash control to be effective, you need to first have a few primary talents in managing your money. For those Believers, it’s important to put into effect sounds Biblical practices and coaching to achieve success stewards of our money.

Christian money management skills are critical. Educating yourself on properly budgeting for your needs will help you know when you can realistically buy your wants. You can also learn the proper steps to invest the money you save with money management. Although you may think you have great money management skills, there is always be room for improvement. Many times our fear is what keeps us from financial stability. Fear is a huge part of what keeps us from making sound financial decisions. Here are some tips that will help you to get on track and keep a balanced mind.