Dixon Advisory files for voluntary administration as claims mount

Jonathan Shapiro and Carrie LaFrenz

Updated Jan 19, 2022 – 1.11pm, first published at 9.33am

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Embattled wealth management firm Dixon Advisory has filed for voluntary administration after its directors determined that mounting liabilities from class actions, settlements and regulatory penalties would leave the entity insolvent.

In a statement to the ASX on Wednesday, the firm’s parent company, E&P Financial Group, said PwC partners Stephen Longley and Craig Crosbie had been appointed as voluntary administrators to Dixon Advisory Superannuation Services, after the directors determined that “mounting actual and potential liabilities mean it is likely to become insolvent at some future time”.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.