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Disgraced adviser Sam Henderson charged with dishonest conduct

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Embattled celebrity financial adviser Sam Henderson is back in the spotlight for the wrong reasons after being charged with dishonest conduct and providing disclosure documents known to be defective.

The charges come off the back of an investigation into Henderson and his business by the Australian Securities and Investment Commission (ASIC) following the Hayne Royal Commission.

They allege Henderson claimed to hold a Master of Commerce degree, which was included in a financial services guide and displayed in various forms through his interactions with clients.

ASIC has banned high-profile financial adviser Sam Henderson, whose inappropriate financial advice was laid bare in the royal commission last year.

Henderson did not enter a plea. The case is set to be heard at the Downing Centre Local Court on August 4, 2020.

"ASIC is dedicated to improving standards across the financial services industry," says ASIC deputy chair Daniel Crennan.

"These charges demonstrate that ASIC will investigate allegations of breaches of the law by financial advisers when dealing with their clients, including allegations of giving inaccurate and dishonest information."

Henderson was the subject of a bad advice case study during the Financial Services Royal Commission. Then in July last year, he was banned by ASIC for three years for failing to act in the best interests of clients, which lost them money or put them at risk of losing money.

Henderson contributed to Money magazine until 2018.

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David Thornton is a journalist at Money magazine. He previously worked at Your Money, covering market news as producer of Trading Day Live. Before that, he covered business and finance news at The Constant Investor. David holds a Masters of International Relations from the University of Melbourne.
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