ASIC warns against cold calling and social media bait in super switching, leading to unsuitable financial advice and reduced savings.
ASIC warns against cold calling, social media bait in super switching, resulting in adverse consumer outcomes and unsuitable financial advice. High-pressure sales tactics lead to reduced superannuation savings and unnecessary fees. ASIC urges financial advisers, Australian financial services licensees, and superannuation trustees to act responsibly and protect consumers, advising people to avoid engaging with cold callers and clicking on clickbait ads.
May 06, 2024
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