1'!1!Sl!Mlhey - Royal Commission

Contains Confidential Information

Perth Office

8th Floor 231 Adelaide Terrace Perth WA 6000 t (08) 9323 3900

f 10819323 3999

Willetton Branch Office

24 Augusta Street

Willetton WA 6155 t IOSl 9354 2219

For All Correspondence

GPO Box 51354 Perth WA 6001 e intorabpclawyers.com w www.bpclawyers.com

ABN 83 592 497 199

Millenium3 Financial Services Pty Ltd Level 23, 242 Pitt Street SYDNEYNSWA 2000

Dear Sir/Madam

AUTHORISED REPRESENTATIVE: Confidential

Confidential

and Confidential

ANZ.800.401 .0736

Butcher Paull & Calder Barristers and Solicitors

Our Ref: RJB\HL\20 161309

Direct Email: Confidential

Your Ref:

12 June 2017

& ,,,,.

as trustee for fd'l!M'

Confidential Confidential Our clients engaged of as their financial adviser from in or about 2008 to 2012. During the course of his engagement P'!f acted negligently and our clients suffered loss and damage as a result. The negligence arose in 2010 when your client recommended a loan which was to be secured against a property situated at It appears now that the security offered was not valid.

Confidential We are instructed was an authorised representative of Millenium3 Financial Services Pty Ltd. Our client has sought advice from our office regarding a claim against your agent's professional indemnity insurance policy. We request that this letter be referred to your insurer.

We thank you in anticipation and invite you to contact queries.

~ ::J: f a;.JJ {- CcU<lLv BUTCHER PAULL & CALDER

cc: ADG Complaints By email: [email protected]

Confidential should you have any

ANZ.800.401.0737 Contains Confidential Information

From: Paul Stojanovic Confidential

Sent: Wednesday, August 23, 2017 3: 15 PM

To: Wade, Alice ; ADG complaints <ADGcom !runts

Cc: Subject: Confidential

Hi Alice and ANZ complaints,

Following a phone call today, would like to lodge a formal complaint againstKW'ti!mJ llliihe misappropriation of monies from their superannuation fund.H•mlf®! are retirees aged 71 and 69 respectively.

Confidential I

In my conversation with \1'!1!Sl!Mlhey have confirmed was their adviser and he was licensed through Millennium 3. Both have been severely impacted in their retirement byprempand his advice.

confldent1al

I will be meeting witl@'"itf'P®1 next week t o provide you with evidence regarding misappropriation of ( monies and the damages incurred by the claimant's.

(

This includ~ monies where r.·:1111·-f""f ... sold down assets and created loan documents instructing~to lend him money at a higher interest rate above the returns they were receiving from their investments. The damages include unauthorised sale of assets held within the SMSF.

$500 per mont h management fee which theM'f f were unaware of and there were no services provided.

There is also an indication of a property deal in Derby WA where~had encouraged ~fto provide him with $150,000 from t heir mortgage in order to inves~evelopment. Th'fLfr · ave only been able to over the years recoup $135,000 of this money.

·have been attempting to recoup their monies legally and to date have spent over $25,000

Both d'l!t''have been severely financial ly impacted due to the advice received by 'Aft® '9'1fl!f'I claim they had over $1.1 million in their SMSF and due to'GflmJRbehavrour on the financial predicament his put them in it has been reduced to approx. $50 000. This now extends to both being ineligible to receive Centrelink benefits.

Please acknowledge receipt of this email I will start compiling the evidence for your records.

Kind regards

Paul

•

Paul Stojanovic I AFP® Financial Planner I BA Art, Dip FP

Pave Wealth Services Pty Ltd ABN 80140 175015 is a Corporate Authorised Representative

and Credit Representative or AMP Financial Planning Pty Limited ABN 69 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706

79 Lindsay Street Perth WA 6000 AUSTRALIA I Confidential


Map link I Confidential

Any advice contllioed In this email is ol a genera.I nal1Jre only and does not take into account the obJKl!Ves, I nanc al s«uabon 0t needs d any partJcolar person. Therefore, before making any decision, you should oonsicler the appropriateness of the adVice 'Mth regards to those matters. This email, including any attachments, may oontain infotmation that is oonliclentiat eommerc ally sensitive end may be subject to legal pnv1tege If you are not the intended recipient you must not read, use, disseminate, dlstnbu!e or oopy any part <:J this email. disclose rts oontents to any other party, or take any action m reliance on it If you have reeewed this emai fn error. please contact the sender lnmed1ately and delete th'.s email. Pave Wealth SM>lices f!NA) does not warrant that tlus email or any attachments are free from viruses ot other dofeets Please ensure that you cheek for viruses and defects pnor to opening any attachments. free from vil'vses or other deftcts. Pteuc ensure thit vov ched< for viNses ind defech ptt0r to openl.nc 1.ny 1tt1ehments.

ANZ.800.401.0738

0

0

Contains Confidential Information ANZ.800.401.0739

(

(

From: Sent: To:

Cc:

Subject: Attach:

Paul Stojanovic Friday, September ADGcom


following my meeting with Confidential please find attached the following documents

1. certified ID for both 2. Pave third party access 3. individually signed M3 authorities appointing Paul Stojanovic and staff of Pave 4. letter of authority to Macquarie to release information to ANZ and Pave

Regarding evidence of t ht: ff iff claim I will be providing this to as we have found the f@1!i SMSF transaction history clearly shows their managed investments being sold without their authority or knowledge I am in the process of contacting the respective fund managers to provide copies of these transactions for your investigations.

I appreciate your assistance I will advise once we have all the required evidence and this can then be added to the list of complaints.

Kind regards

Paul

•

Paul Stoianovic AFP® Financial Planner I BA Art. Dip FP

Pave Wealth services Pty ltd ABN 80 140 175015 is a Corporate Authorised Representative

and Credit Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706

79 Lindsay Street Perth WA 6000 AUSTRALIA I Maplink 11111111111111111111111111

Confldent1al

Acc....litod by 111 i..rn'"'2-AHP flluwlal P~ n&•u:-•

My adv.ce ccnta ne<I in tllis email Is of a gent<al oature only and does not take into account the otjeetives, fnancial stuation or needs of any partlQllar perscn Ther810<e, befo1e making any de<:1S10<1 you should 00<1slde1 the aJ)P<Cl>Oalene$$ of !he advice with rega1ds to th0$e mal1>ero. This ema1I, 1nclud1ng any allllchments may conta•n !flformallon that os confiden~al, oomme1cially sensitive and may besub;ect to legal privilege If you a•e not the n tended recipient you must not read use Qs5em.nate, d1stnbuteo1 copy any part d thi• email, dsclo5e its contents lo any other party, er take any action 1n reliance on it If you have rec:ewecl th ls emaJ In error plea .. contact !he se-r 11rrned1ale y and delete this email Pave weanh SeMCes fYV"l dOes not warrant that tl>IS ema I or any attachments are free from vruses er other defect$ Please ensure that you check 101 viruses and defects p<1or to opening any att.ehments. free from viruses or otner dtfttts. Ph:n e ensure that you c,beck fot viruses and detects pu°' to opt nl f'l& any 1ttac.hments.

From: Paul Stojanovic Sent: Thursday, 24 August 2017 10:30 AM

Contains Confidential Information ANZ.800.401 .0740

To: 'ADG complaints' <[email protected]>; Wade, Alice Cc:

Thanks Undine and Alice,

Kind Regards

Paul


Pave Wealth Services Pty Ltd ABN 80 140 175 015 is a Corporate Authorised Representative and Credit Representative of AMP Financial Planning Pty Lim~ed ABN 89 051 208 '327 Australian Financial Services licence 232706 and Australian Credit Licence 232706

79 Lindsay Street Perth WA 6000 AUSTRALIA I Confidential

Map link Confidential

Arry act11ce C011ta1nt<1 In thl$ email is ol a genetal nature only and does not take into account the objedives, financial silua~on 0< needs d any parteular person. Therefore, betore making 111y deeisi<:n you should consider the appropriater'e$s ol the adviee -M!h regards to those man.ts. This emal, including iny attachments, miy contain onfonNt10n that,. confodent1al, commeoeially sensitive and n-ey be oub1~ to legal privi lege If you are not tho intended reeipient you must not read, use, d1.ssernnate, d st11bute or copy any part d this email, dlSdose its oontents to any other party, or take any action in reliance on 1t If you have receNed this email 1n error, please contact the sender rf1'1'Tlediately and delete this email Pave Weath Services ~A.) does not warrant that this em~ul ot ally al'lachments are tree from vt uses or other defects P~se ttnsure that you check for vi'uses and defects r:nor to opening a ny attachmeru. f ree lroin viruse.sor otherdefecu. Plruse enJure that yo11 check forYlruHJ i nd defectJ prior to ope.:11nc i ny •UC:hrnents

From: Goodbury, Undine [mailto: Confidential ] On Behalf Of ADG complaints Sent: Thursday, 24 August 2017 10:14 AM

Dear Paul,

We confirm receipt of your email below dated 23/08/2017.

Kind regards,

Undine Goodburyl Australia Wealth I Complaints Officer I Advice Delivery Level 12, 242 Pitt Street, Sydney, NSW 2000, Australia Confidential

1'1NZ ,ft,Subject to legal professional privilege - Confidential

Confidential ADG complaints

Private and confidentiol. This electronic moil moy contain legally privileged or confidential information which is intended for the use of the addressee only. If you receive this mail in error, please delete it from your system immediately and notify us at either the above email address or on .. 1512 8037 1747.

0

0


(

(_

From: Paul Stojanovic Confidential

Sent: Wednesday, 23 August 2017 3:58 PM To: Wade, Alice; ADG complaints Cc: Sub1ect: RE: formal complaint againstM'f'f'P M3 adviser

Please note the corrected email address

Regards

Paul

•

P2Y.~ CE"ffi. Paul Stojanovic I AFP® Financial Planner I BA Art, Dip FP

Pave Wealth Services Pty Ltd ABN 80140 175015 is a Corporate Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706

79 Lindsay Street Perth WA 6000 AUSTRALIA I Man link I Confidential

Any advice cont;uned m this email ls of a general nature only and does not~ke into oc:eount tile o~IVes. f1nanc1al stuabon or neo<ls of any particular persoo Ther~ore, before mak.log any dec1$1on you snoukl consider the appropnateness of the ad'vk:e 'Nlth regards to those maners ThlS ema11 1nc1Ud'll'lg any atlachments may ex>nta1n informahon that is oon11dennal OOnYT'le'rc1a!ty sensitive ar.d ITTil'f be subject to legal prMlege If you are not the mtended recipient you must not read. use Cfi5$Cmlrtilt.e, distribute or copy any part al this emall, dlSClO$e m: content$ to any other party, QI W.ke any ilctX>n 1n relta.nce en t.t.. !if you have recef'led 1his emal Jn err01 please contact 1he sender um1ed1ately and delete t111s MWJL Pave Weallh SeMCes (WA) does not warrant tllat 111•• ema'I or any attachmonts are free from vrU$0$ or other defecb Plene ensure that you <:fleet( torv1ru~ and clefecu pnc::"-to opening 1,riy •ttichmonb tree from vtosesor other defttti P~ase ensure that you dledc for ~Mes ind def ea~ pilor to opeh'l'\C any attachments

From: Paul Stojanovic

Sent : Wednesday, 23 August 2017 1:15 PM

ormal complaint againstpff®' M3 adviser


Confidential Following a phone call today, would like to lodge a formal complaint against@'i1'i1it;[@lt tllillllthe misappropriation of monies from their superannuation fund. tI•mf"O®'are retirees aged 71 and 69 respectively.

In my conversation withlj0lrlf®''f'9hey have confirmedltJ.i•"Pan@• was their adviser and he was licensed through Millennium 3. Both have been severely impacted in their retirement bWfr! and his advice.

I will be meeting witt@Wllf®'®I next week to provide you with evidence regarding misappropriation of monies and the damages incurred by the claimant's.

This includ~ monies where'Gf®'sold down assets and created loan documents instructing~ to lend him money at a higher interest rate above the returns they were receiving from their investments. The damages include unauthorised sale of assets held within the SMSF.


$500 per month management fee which thepmenn were unaware of and there were no services provided.

There is also an indication of a property deal in Derby WA where~had encouraged the hf'Ji1ip@ijto provide him with $150,000 from their mortgage in order to inves~evelopment. Th@ltl@@have only been able to over the years recoup $135,000 of this money.

The ·have been attempting to recoup their monies legally and to date have spent over $25,000

Both@iD1iti@i@I have been severely financially impacted due to the advice received b tl•!iimap@• claim they had over $1.1 million In their SMSF and due toliJJ.lriip@iMbehaviour on the financial predicament his put them in it has been reduced to approx. $50 000. This now extends to both being Ineligible to receive Centrelink benefits.

Please acknowledge receipt of this email I will start compiling the evidence for your records.

Kind regards

Paul


Pave Wealth Services Ply Ltd ABN 80 140 175 015 is a Corporate Authorised Representative

and Credit Represenlative of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706

79 Lindsay Street Perth WA 6000 AUSTRALIA Confidential

Map link I Confidential Accreditocl by I -~

A.Ml' FLaanclal PlannlJ>g AMP• Arly 3dv1ce c:onta1ned 1n th~s ema1l 1s of a general nature only and doe$ not take into aceoun! the obted:rves. f1nanc1al situation or needs d any partrutar person Thererore, berore malcing any decision, yoo should consider tlte awopriataness of the a<!vice ,.;ih r093rds to thooe matters. This emai, including any a\lachments, may oontam infoonation that is ronfidential commercially sensitive and may be sub)eci to legal privilege Ir you are not the i<ltended recipient you must not read. use. dissemnate, disllibuteor copy any part dthiHmail, disdose its contents to any other party, or tal<a any action., relaneeon ll Ir you hove received this emd on err0<, please contact tM sender irrrned1ate~ and detete this email. } does not warranl: that tht$ ~mall or any attadunenb are i"ee from viruses "'other defects Please ensure that you check lor vruses and def eel$ p-oor 1D opening any attachments. free frorn Viruses or other defects. Picue en.Stire thlt VOt chedc for viruses and deftds prior to ope~lnt inV JttKhments.

This e-mail and any attachments to it (the "Communication") is, unless otherwise stated, confidential, may contain copyright material and is for the use only of the intended recipient. If you receive the Communication in error, please notify the sender immediately by return e-mail, delete the Communication and the return e-mail, and do not read, copy, retransmit or otherwise deal with it. Any views expressed in the Communication are those of the individual sender only, unless expressly stated to be those of Australia and New Zealand Banking Group Limited ABN 11 005 357 522, or any of its related entities including ANZ Bank New Zealand Limited (together "ANZ"). ANZ does not accept liability in connection with the integrity of or errors in the Communication, computer virus, data corruption, intetference or delay arising from or in respect of the Communication.

0

0


(

(_

I

I

14 September 2017

Confidential

By email: Confidential

Private and Confidential

Dear Confidential

Re: Your Complaint to Millennium3 Financial Services

We have received details o~dated 14 September 2017, concerning service provided to you by- a former representative of Millennium3 Financial Services.

We would like to confirm that we will be investigating this matter on your behalf. We anticipate to being able to provide a response to your concerns within 45 days.

Yours sincerely,

Undine Goodbury Case Officer, Advice Complaints

Millennium3 Financial Services Pty ltd Australian Financ.ial Services Licence No. 244252 I ABN: 61094529 987 Unit 7, 50 Borthwick Avenue MURARRIE QLD 4172 I T 07 3902 9800 I www.mlllennlum3.com.au

ANZ.800.401 .0743

Contains Confidential lnfonnation

From: Sent:

To:

Cc: Subject: Attach:

Hi Undine,

Paul Stojanovic Confidential

Tuesday, September 19, 2017 1:00 PM

ADG com laints <[email protected]>; Wade, Alice

adviser.msg; FW _ llllM3 adviser.m complaint against

Confidential

Email sent to thep£1psolicitor as discussed earlier.

Hopefully they do not attempt to double up on the complaint process and charge the clients extra.

( Speak soon

Paul

(_

P aul Stojanovic I AFP® Financial Planner I BA Art, Dip FP

Pave Wealth Services Pty Ltd ABN 80 140 175 015 Is a Corporate Authorised Representative and Credit Representative of AMP Financial Planning pty Lim~ed ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706

79 Lindsay Street Perth WA 6000 AUST Confidential Mao link I

Ar.y ad ... loe oontained in thit emaiJ is of e general nature onty and does not take in10 acoount the objeetrves f'"ancial u tuation et needs cl any pe.rti¢vlar person. Therefore, bef0<e ma~ng any d oc1S1ai you should consider the appropnatenoss of the advice .....i. regards to those matlels. This ema~. nclud1ng any allachments. may oont=i1n 1nfonnabon that c conf•nt1al eommete•aUy sensitive and tr"Q.Y be sub,-ct: to legal ~M\ege If you are not the intended recipient you nwct not read, use, d1ssernnate dish bute or oopy any put d this emai. drsdo$e its contents to any other party, or take any action In re ha nee on it If '(OJ have receNed this ema~ m error. p • aweonbct the sender 11T'r'ned ately 9nd de'9te ttlis email Pav• Weakh Services ~A) does, net .,..,;rl'9nt tNtthis email or any attaehrnetlt&$re frH from viruses 0< other defects. Please ensure that you ~k for vru""' and defects poor lo opening any attachments. free fro...,, Ylf\IH S or othtr d efects Please eM~lle that you che ck forV'lrusu and de fects pttor tc opet1 nc lttf'f attachments.

Hi' ''

ANZ.800.401 . 07 44

Pf ff! passed on your details to me today. I am happy to meet with you and your legal team to discuss how we have assisted other complainants and our process in seeking compensation for our mutual client.

I have on the 23/08/2017 notified Millennium 3 I ANZ complaints of the@'9'®1 intent to complain against


Confidential after my initial conversation w ith theMfff I

This was confirmed as being received by ANZ on the 23/08/2017.

Following my meeting withpff@I I lodged the following (see attached):

• formal email complaint lodged on 04/ 09/2017

• email notice plus authorities to Macquarie Financial Services 04/09/ 2017

• email request for the confirmation of the sale of assets ( Macquarie Wrap) and a request for an err or

costing to be conducted

ANZ complaints have asked for an update on t he legal proceedings as they are aware the Pffn pursuit of

monies through legal process.

The process for com plaints against advisers is being followed by ANZ I M3 and Macquarie Financial Services.

Due to the systemic nature ofljohl!fi®'f misappropriation of monies and as required, ANZ are investigating into

the claim and have employed forensic accountants to substantiate the losses. ANZ are required to

register the breach and report@'i1j1iti®!f51Wto ASIC, their report is being prepared as we speak.

The process from ANZ perspective is free and all clients are aware M3 I ANZ has 45 days to respond to the Q complaint prior to it being lodged w ith the Financial Ombudsman Service ( FOS ). ANZ has asked for an extension

of time with all clients.

Confidential Please do not hesitate to contact me directly to discuss this or any other matter relating to

complaint and I welcome the opportunit y to meet w ith you at your office to share information.

Kind Regards

Paul


Pave Wealth Services Pty Ltd ABN 80 140 175 015 is a Corporate Authorised Representative and Cred~ Representative of AMP Financial Planning pty Limited ABN 89 051 208 327 Australian Financial Services licence 232706 and Australian Creel~ Licence 232706

79 Lindsa~ Map hnk I

I

- ..•. l• -:•• ... • . Confidential

T Confidential

Any advice contained in this emai1 ia of a genorel natvre only ond does not take into account the obieet.ivea, f in ancial situation or noeds d any perticuiat penon.. Therefore, be!°'• ma!on9 any dec1Sion you sl'ould consider lile appropciateness of tile a<M:e Wth regards to thos<I mattors this ema~. includ ng any attachmerts, rr9Y contain 1nfol'matcn that ic c:onrldent al, eommereiaUy sen&liv• ond may b• sub~ to l•g•I privileg• If you ar• r.ot tht lni.nded redpi.ent you must not read, use, dissem~te, cl1Sb"1bute or oopy any part ol this emal, dlSClose 115 contents to any other party, "'take any aebOn 1n reliance on~. If )OU hive ~"'eel this ema0 in error, pleaseoonbct the senderinvnediatefy and delete this emrail ~ve We:itth Service~ f'NA) does not warrant th~ thisema l or :my attachments ;ire free from v11uses or other defects. Please ensure that you check for viruses and defects pr IOI ll opening any attachments. fue from wt ruses or other def«ts Pleat.e: ensure tha t yw check for viru.se s 11ncl defects prior to open1n1 any ;;utuhtnent.s.

0

Contains Confidential lnfonnation ANZ.800.401.0746

(

(_

From:

Sent: To: Subject:

Dear Confidential

Wade, Alice ADG cornplamts Tuesday, September 19, 2017 3:05 PM Confidential

Your Complaint to Millennium3 Financial Services

Thank you for the recent telephone discussion regarding your complaint.

As discussed, McGrath Nicol has been engaged to conduct an interview w ith you regarding your complaint.

The representatives from McGrath Nicol are Confidential

in contact with you on your preferred telephone number.

Kind Regards,

Alice Wade I Case Manager I Advice Del ivery I Australia wealth I ~:PMJ•t~~e, VIC 3001, Australia

P lease consider the environment before printing this email . . ,.,. " la •' , Subject to legal professional privilege - Confidential

and/or Confidential and they will be

Priv11trn111l cv1!fidmt111/. Tlri~ rfrcln111ic 11111il 11111y cv11 111i11 IQ;111/y prioilcgeil orcv1!fi<IL•rli11/ i1!forr111rtw11 t>lr1d1 rs 111tm1le1lfur t//c rise <!f fire uddrt-;;sr1· v11/y. ({ v011 receipe llus mnil i11 error. plcni;e dd~te it from yom sy;:tem 1111111ed1n1elv nnd notify 11s nt eillier tlre nbovc e111nil nddiws or 011 +613 8654 2013.


(

(_

27 October 2017

Confidential

By email: Confidential

Private and Confidential

Dear Confidential

Re: Your Complaint to Millennium3 Financial Services

When we wrote to you on 14 September 2017 confirming receipt of your complaint against , we expected that we would complete our investigation into your concerns and provide you with a full response before now.

Whilst we have made progress, we have not been able to complete our investigations and write to you with our findings in the timeframe we had anticipated. We are sorry for this delay.

On 29 October 2017, 45 days will have elapsed from the date we received your letter at which time, should you wish to, you may contact the Financial Ombudsman Service Ltd (FOS) to request its assistance with your complaint. FOS may be contacted as follows:

Mail: Phone: Fax: Email : Internet:

GPO Box 3, MELBOURNE VIC 3001 1800 367 287 03 9613 6399 [email protected] fos.org .au

We are committed to resolving your concerns and hope that you will allow us time so that we may provide you with our full response.

~scuss this letter or your concerns, please contact me by phone on - or by email at [email protected].

Thank you for your patience in this matter.

Millennium3 Financial Services Pty Ltd Australian Financial Services Licence No. 244252 J ABN: 61094529 987 Unit7, 50 Borthwick Avenue MURARRIE QLO 4172 I T 07 3902 9800 J www.millennlum3.com.au

ANZ.800.401 .0747


Yours sincerely

Confidential

Alice Wade Case Manager, Advice Complaints

Millennium3 Financial S.rvices Pty ltd Australian Financial Services Licence No. 244252 I ABN: 61094529 987 Unit 7, 50 Borthwick Avenue MURARRIE QLO 4172 I T 07 3902 9800 I www.millennium3.com.au

ANZ .800.401.0748

0

0

Documents

1'!1!Sl!Mlhey - Royal Commission