Old Mutual subsidiary faces FSCA probe over ‘inducement‘ saga
Bitter fall out between Old Mutual subsidiary and former senior staffers deepens
18 March 2024 - 05:00
UPDATED 19 March 2024 - 11:19
The Financial Sector Conduct Authority (FSCA) is investigating allegations that Old Mutual independent financial advisory business Adviceworx’s (ADX’s) adviser acquisition model breaches regulations, putting clients’ interests second.
Meanwhile, the falling out between ADX and its former senior employees turned whistle-blowers is growing. One of the whistle-blowers, in his communication with Old Mutual top brass, describes the alleged breach as the “largest financial advisory and intermediary services breach in SA history”...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.