Updated: 5 August 2022

ASIC announcement

On 3 August 2022 ASIC announced that it will soon be writing to former clients of Dixon Advisory to inform them that if they believe they have suffered loss as a result of the misconduct of Dixon Advisory and/or their former Dixon Advisory financial adviser in providing financial advice, they should make a complaint to the Australian Financial Complaints Authority (AFCA).  

As complaints may only be made against firms who are members of AFCA, complaints against Dixon Advisory should be made as soon as possible to ensure that Dixon Advisory’s AFCA membership is still current and that consumers remain eligible to access a potential future Compensation Scheme of Last Resort (CSLR). 

How to lodge a complaint

If a former client of Dixon Advisory has already lodged a complaint with AFCA there is no need for them to do anything further at this time.

Complaints paused

In January 2022, AFCA was advised that Dixon Advisory had been placed into Voluntary Administration.

As a result, AFCA paused progress of all complaints against Dixon Advisory.

This is in line with our policy for the handling of complaints involving insolvent firms, including those in Voluntary Administration. While awaiting the introduction of CSLR, these complaints will continue to be paused and will be assessed once any CSLR is established. 

AFCA will only be able to fully assess the impact of the CSLR and its relevance to paused complaints once the scheme is legislated. We will review all relevant complaints as soon as that occurs. 

Whether or not a former client of Dixon Advisory is eligible for compensation will depend on the individual circumstances of the advice that they were given, as well as the scope and operation of a CSLR.

Additionally, AFCA will also review the pause on complaints against Dixon Advisory when the outcome of the administration process is known as this could also affect clients’ eligibility for compensation.

Membership of AFCA

As of 3 August 2022, Dixon Advisory continues to be a member of AFCA. 

New complaints can still be lodged with AFCA against Dixon Advisory. We will register new complaints, but those complaints will also be paused.

Details of administrators

On 19 January 2022 E&P Financial Group Limited made an ASX announcement about the appointment of the Administrators to Dixon. 

When a firm enters an insolvency process it is important that any communications or queries about the process are directed to those now responsible for the firm. 

In the case of Dixon this is currently the administrators, Stephen Longley and Craig Crosbie of PwC Partners. Their contact details are: 

Class actions

AFCA understands that current class actions have been paused by the court. If you have a complaint about Dixon, there may be jurisdictional issues if you are part of a class action in the future. However, in the meantime you can still lodge your complaint with AFCA. 

For more information read our factsheet: how AFCA approaches complaints that are part of a class action

More information

Previous ASIC announcements

  • ASIC has suspended the Australian Financial Services licence of Dixon Advisory with conditions including the maintenance of AFCA membership (see 22-094MR).
  • On 4 September 2020 ASIC commenced civil penalty proceedings against Dixon Advisory for alleged conflicts, best interest failures and inappropriate advice (see 20-207MR and 21-167MR). The matter has been relisted for hearing on 2 August 2022.
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