iscoverThe corporate regulator has banned a former adviser based in Sydney from providing financial services for three years.
ASIC bans former financial adviser
20 January 2021
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4 minute read
Jim Pavlidis has copped the ban after a review of his advice between 2004 and 2018 found that he failed to provide advice that was in the best interests of his clients as well as to keep proper records.
He was an authorised representative of Consultum Financial Advisers from January to October 2018 and Meritum Financial Group from April 2004 to January 2018.
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The regulator ruled Mr Pavlidis failed to consider the relevant circumstances of each client and left client objectives unaddressed.
ASIC also found that Mr Pavlidis was not adequately trained and did not have a proper understanding of the requirements to competently provide financial services.
Mr Pavlidis began working in the financial services industry in 1986. He is currently not working in the sector.
The banning of Mr Pavlidis will be recorded on ASIC’s Financial Advisers Register and the Banned and Disqualified Persons Register.
Mr Pavlidis has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
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