For decades, Dixon Advisory was the first choice for financial advice in Canberra. Photo: April 77.
Wealth management firm Dixon Advisory has been forced into voluntary administration due to mounting liabilities arising from potential damages from class actions, consumer claims and penalties owing to the corporate watchdog.
Dixon Advisory and Superannuation Services Pty Limited (DASS), a wholly-owned subsidiary of E&P Financial Group Limited, told the Australian Stock Exchange that it had appointed PwC Partners, Stephen Longley and Craig Crosbie, as voluntary administrators.
DASS directors have determined that mounting actual and potential liabilities mean it is likely to become insolvent.
The company, founded in Canberra by Daryl Dixon…