ASIC has cancelled the Australian financial services (AFS) licence of Red Panda Future Wealth Pty Ltd (formerly, Capital Financial Planning WA Pty Ltd) (Red Panda) effective from 16 February 2026.
Red Panda's AFS licence was cancelled after ASIC became aware that Red Panda ceased to carry on a financial services business. So as not to adversely affect former clients of Red Panda, the AFS licence continues in effect until 16 February 2027 for the purpose of Red Panda maintaining its membership with the Australian Financial Complaints Authority (AFCA).
Red Panda may apply to the Administrative Review Tribunal for a review of ASIC's decision.
Actions to consider if you are a client of Red Panda
If you are a client of Red Panda and have concerns about the conduct of your adviser or the advice you received, you should consider lodging a complaint with AFCA. AFCA is the external dispute resolution scheme for financial complaints in Australia and must deal with complaints independently and fairly. AFCA's service is free for consumers.
AFCA can be contacted by:
- calling 1800 931 678 for free (9am - 5pm Melbourne time), or
- lodging a complaint online on AFCA's website.
AFCA will consider your complaint if it meets the eligibility criteria.
Important deadline: In cancelling Red Panda's licence, ASIC required Red Panda to remain a member of AFCA until 16 February 2027. If you intend to lodge a complaint with AFCA in relation to advice received from Red Panda you should do so by 16 February 2027.
Background
Red Panda held AFS licence number 523344 since 9 September 2020. It was authorised to provide financial product advice and deal in certain financial products to retail and wholesale clients.
Adam Gillett is the sole director of Red Panda.
The Corporate Authorised Representatives of Red Panda have included:
- Apex Financial Planning Pty Ltd
- Zen Capital Pty Ltd
- Practical Wealth Managers Pty Ltd
The cancellation of Red Panda's AFS licence is part of an ongoing ASIC investigation that includes Red Panda and associated entities and individuals.
