IFSO goes to court to secure payment

The ombudsman had made a ruling against a financial adviser, Kevin Hartfield, ordering him to pay a client $53,982.83 in a decision made in October 2021.

Hartfield had not paid his clients forcing the IFSO to apply to the District Court in New Plymouth for enforcement.

Hartfield argued, that he was no longer a member of the scheme; along with claims that he had not provided investment advice, a referral fee was not hidden and that the component off the award relating to interest costs was unjustified. 

In an oral judgment Justice Greig said Hartfield was "attempting to relitigate the original outcome of the complaint made against him."