ASIC freezes assets of former Sydney financial adviser

On 5 July 2023, ASIC commenced urgent proceedings in the Federal Court against David Valvo, former Sydney financial adviser, and related company, Your Financial Freedom Pty Ltd.

On the same day, the Court made orders freezing the assets of Mr Valvo and Your Financial Freedom Pty Ltd (ACN 083 0044 580), restrained Mr Valvo from leaving Australia and required him to surrender his passport.

ASIC is currently investigating the financial services provided by David Valvo and Your Financial Freedom during the period 1 January 2015 to 21 September 2021, regarding fees charged to client superannuation funds.

The orders were varied on 7 July and 4 August 2023 with Mr Valvo’s consent.

The matter is listed for a case management hearing on 29 September 2023.

ASIC’s investigation of David Valvo and Your Financial Freedom Pty Ltd is continuing.

Any person who had superannuation invested with Mr Valvo or Your Financial Freedom and has concerns about the fees they paid can contact ASIC at [email protected]

DOWNLOAD
Orders (July 2023)

Orders (August 2023)

ASIC media releases are point-in-time statements. Please note the date of issue and use the internal search function on the site to check for other media releases on the same or related matters.

Latest News

For Firms

For Consumers

ArabicChinese (Simplified)DanishDutchEnglishGermanGreekRussianSpanish