In August 2014, Commonwealth Bank Group entities Commonwealth Financial Planning Limited (CFPL) and Financial Wisdom Limited (FWL) agreed with the Australian Securities and Investment Commission (ASIC) to vary their respective Australian Financial Services Licence conditions.
Under these varied licence conditions, Commonwealth Bank will be contacting certain customers to inform them the advice they had previously received from their CFPL or FWL adviser was subject to an internal review due to the fact their adviser had provided poor advice to some customers.
Customers who had their advice previously reviewed could include customers of financial advisers who operate under the Financial Wisdom Limited Licence. These advisers are Authorised Representatives of Financial Wisdom and may also trade under their own business names.
If you would like to request more information, please contact us:
Phone: 1800 111 198
PO Box 20997
World Square NSW 2002