A former WealthSure planner who has been ordered to pay $1.7 million in damages to a client is unlikely to pay the claim after he declared himself bankrupt.
David Bertram was required to pay the claim after a stay of execution concerning him was discharged. However, he is unlikely to pay up after he declared himself bankrupt and an appeal by him was dropped by the trustee of his estate.
As a result, the claim will now shift to the trustee — the Official Trustee — and Wealthsure’s professional indemnity insurer QBE.
In May of this year Bertram was named head of distribution at Beacon Financial Planning, the group formed by the merger of Titanium Group and Financial Link and headed by former Australian Financial Services…