No one yet prosecuted for calling themselves 'financial adviser'
However, when contacted by Money Management, ASIC confirmed it most regularly pursued people on the basis of them either not holding an Australian Financial Services License (AFSL) or being authorised to operate under such a license. The question of the restricted use of the term “financial adviser/planner” has come to the fore because of the controversy surrounding alleged fraudster, Melissa Caddick, who was passing herself off as a financial adviser without holding an AFSL or an authorit...
New South Wales Ian Macritchie Andrew Leigh Jane Hume Melissa Caddick Australian Financial Services License
Source: moneymanagement.com.au