Halifax Investment Services Has Gone Bust

According to a source with knowledge of the matter, Halifax Investment Services, an Australian investment management company, has gone into administration.

Investigation

FortuneZ checked the company’s website (halifax.com.au), and discovered that it is offline:

FortuneZ phoned the offered number and received no reply. We have sent an email requesting comment, but no reply was forthcoming as of press time.

The website of the Australian Securities and Investments Commission, that country’s financial watchdog, confirms that the firm is in external administration:

According to Ferrier Hodgson, a “dependent financial advisory and restructuring provider”, administrators were appointed to Halifax Investment Services on the 23rd of November. These administrators are named as Morgan Kelly, Stewart McCallum, and Phil Quinlan, all partners of said firm.

About Halifax

Sydney-based Halifax Investment Services is a subsidiary of Lloyds Banking Group. Its CEO is one Andrew Baxter. According to his LinkedIn profile, Baxter is also the CEO of two other entities – Australian Investment Education, which offers trading courses, and Grange Capital Management, a “Boutique Investment Manager” which doesn’t appear to have a website.

In 2013, the American Commodity Futures Trading Commission sued Halifax for illegally soliciting people in the US. The company removed the US as an option on the site shortly afterwards.

(Featured photo: pixabay)

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