Former Spectrum Wealth adviser banned from providing financial services for five years LeapRate

May 26, 2020 BY Steffy Bogdanova

Former Spectrum Wealth adviser banned from providing financial services for five years

ASIC found that Lewis advised his clients to use a Limited Recourse Borrowing Arrangement (LRBA) to fund the purchase of real property through a self-managed superannuation fund (SMSF). In addition, Lewis also provided insurance advice to his clients. When giving this financial advice, Lewis did not asses whether SMSF and borrowed funds to invest in…

ASIC bans Spectrum Wealth financial adviser for three years

Spectrum Wealth Adviser, Gurumukh Singh Mehra, has been banned from providing financial services for a period of three years, after ASIC surveillance showed he failed to act in his clients’ best interests, the Australian regulator informed earlier today. Through ASIC’s surveillance of life insurance advice, it was found Mr Mehra had failed to: make reasonable…

Tag: Spectrum Wealth

Former Spectrum Wealth adviser banned from providing financial services for five years

ASIC bans Spectrum Wealth financial adviser for three years

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