AFSL demand sees specialist law firm launch advisory board

Established in 2016, the law firm works with Australian Financial Services (AFS) licensees and advice businesses, utilising its regulatory and mediation experts to help financial services companies navigate regulatory challenges, resolve complex disputes, and ensure they are protected from a legal standpoint.

On the back of increased demand for guidance from AFS licensees since the royal commission, the Sydney-based law firm has announced the appointment of industry veteran Matt Fogarty as a consultant and the inaugural member of the newly created advisory board.

Prior to joining the firm, Fogarty was the head of private wealth at Kelly+Partners Accountants for a year and a half, before which he was the chief executive of Fitzpatricks Private Wealth for over four years.

The firm said Fogarty also brings with him a wealth of experience from more than two decades spent in the financial services industry, having held a number of senior roles at MLC, ipac, AMP and ING.

Hamilton Blackstone Lawyers managing director Cristean Yazbeck said the increase in demand has been largely due to an increase in regulatory monitoring, leading advice firms to proactively seek to reduce their risk as they attempt to stay ahead of changing regulations.

“Over the past decade, we’ve established a reputation for delivering quality, hands-on regulatory advice and proactive support to AFSLs and advice businesses, and Matt is the ideal person to help us continue enhancing our services and build relationships in that space,” Yazbeck said.

“Matt is a highly respected and experienced industry advocate who understands the practical implication of regulatory change on licensees and advice businesses, which makes him an invaluable consultant and member of our advisory board.”

Fogarty said he is pleased to join the team and provide insights to help them better service the financial services industry.

“I’ve known Cristean for many years. He has been helping licensees and advisory firms to maintain compliance, protect their business and achieve their goals for over 20 years,” Fogarty said.

“Whether it’s establishing an AFSL, preparing a regulatory response or strategic guidance and planning, Cristean and his team have the unique ability to simplify complex legal and regulatory matters, and also make them less scary. I’m very proud to be involved with Hamilton Blackstone Lawyers.”

While currently a team of one, the law firm said that membership to the advisory board is open to “industry leaders who possess the expertise, attributes, and key competencies to provide expert, entrepreneurial, and strategic input into our client service propositions”.