Comments on: ASIC cracks down on ‘finfluencers’

By: Anon

Anon — Thu, 12 Jun 2025 21:06:26 +0000

ASIC is largely responsible for the proliferation of finfluencers. ASIC has consistently persecuted and vilified licensed advisers, and effectively nudged consumers towards finfluencers instead.

This “too little, too late” action from ASIC is all about ASIC trying to protect itself from compensation claims by consumers harmed by finfluencers. All consumers harmed by finfluencers should be speaking to their lawyers about the role ASIC played in discouraging them from using a licensed adviser.

By: Not Happy Jane

Not Happy Jane — Thu, 12 Jun 2025 06:55:53 +0000

Jane Hume was all for promoting Finfluencers over real advisers.
How does Canberra get it so wrong soooooooooo often ?

By: Random

Random — Thu, 12 Jun 2025 03:24:15 +0000

In reply to Researcher. even then, the licensed rouge adviser just magically morphs into something else and every other honest adviser picks up the tab!

By: Curious onlooker

Curious onlooker — Thu, 12 Jun 2025 03:13:59 +0000

They need to seriously crack down on property “gurus” who get people to set up SMSF and buy highly leveraged overpriced properties

By: Researcher

Researcher — Thu, 12 Jun 2025 01:44:00 +0000

So the person with no license to give advice gets a nicely worded warning. ASIC only seems to be serious about punishing people when it is a licensed adviser. On that if ASIC is looking to chase some more headlines how about they shadow shop a handful of accountants and report back.