ASIC bans former Next Generation Advice adviser
On 18 August 2025 the Australian Securities Investments Commission (ASIC) announced that financial advisor Andrew Rankin was banned from providing any financial services for a period of four years.
On 18 August 2025 the Australian Securities Investments Commission (ASIC) announced that financial advisor Andrew Rankin was banned from providing any financial services for a period of four years.
ASIC found that Mr Rankin failed to act in the best interests of several of his clients and gave inappropriate advice while authorised to provide financial advice by Next Generation Advice Pty Ltd (In Liquidation). According to ASIC, Mr Rankin recommended clients set up an SMSF and invest most of their retirement savings into the Global Capital Property Fund Limited (in liquidation) (GCPF) and the Pivotal Diversified Fund (Pivotal).
The banning order took effect from 14 August 2025.
Mr Rankin has the right to appeal the decision to the Administrative Review Tribunal.
It is important that any former clients of Next Generation Advice Pty Ltd (In Liquidation) are aware that they can still lodge complaints with the Australian Financial Complaints Authority. However, the deadline to lodge a complaint is approaching soon.
If you were advised Next Generation Advice Pty Ltd (In Liquidation), we ask that you contact Financial Dispute Legal to discuss your circumstances and consider any rights to recover compensation on 1300 433 533 or enquiry@fdlegal.com.au
