Slater and Gordon has today welcomed the Commonwealth Bank’s announcement it will take the next step in providing redress for customers who were victims of poor financial advice.
On behalf of its clients, Slater and Gordon has agreed to assist Commonwealth Bank in the development of the Bank's Open Advice Review Program.
Slater and Gordon will assist Commonwealth Bank as it develops the processes and methods to review customers' claims.
This engagement will assist Commonwealth Bank to deliver on its commitment to providing fair and effective outcomes for its customers.
Slater and Gordon lawyer Ben Hardwick said Slater and Gordon would ensure customers can have confidence that the program is transparent and rigorous.
“We intend to ensure the program results in fair and equitable outcomes for clients who at the relevant time were customers of the financial planning division of the bank,” Mr Hardwick said.
“Slater and Gordon has acted in Australia’s largest financial loss compensation schemes and we are well placed to have input into the establishment of an alternative dispute resolution scheme such as this.”