ASIC has accepted an enforceable undertaking (EU) from former Commonwealth Financial Planning Limited (CFPL) employee, Mr Christopher Baker of Croydon, NSW, not to provide financial services in any capacity for a minimum of five years after he failed to meet various obligations as a financial adviser. Mr Baker was found to have: (i) not properly completed a number of CFPL’s Financial Needs Analysis documents; (ii) failed to determine the relevant personal circumstances and failed to make reasonable inquiries in relation to the personal circumstances of clients before implementing advice; (iii) had a large proportion of clients that were profiled with aggressive risk profiles; (iv) provided property asset allocations to clients which were far above the recommended asset allocation for their risk profile; (v) failed to provide a Statement of Advice to clients when he was required to do so, and (vi) failed to include a replacement product advice record in a Statement of Advice.