Inside AFCA: How complaints and compensation really work
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Inside AFCA: How complaints and compensation really work
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About this listen
In the latest episode of The ifa Show, host Keith Ford is joined by Shail Singh, lead ombudsman for investments and advice at AFCA, for a deep dive into two of the most complex – and crucial – pillars of financial consumer protection: the Australian Financial Complaints Authority and the Compensation Scheme of Last Resort.
From resolving disputes early and rebuilding client relationships to tackling large-scale cases like Dixon Advisory, Singh sheds light on how AFCA operates and the challenges posed by mounting case volumes.
The discussion also unpacks the role of the CSLR in firm failures, deadline-driven complaint surges, and the often-confusing treatment of self-managed super funds under retail versus wholesale classifications.
Hear about:
- AFCA’s approach to resolving disputes and why early resolution is encouraged.
- The challenges of the CSLR in handling firm failures and complaint deadlines.
- What advisers need to know about SMSF classifications, multi-party disputes, and managing risk.