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Showing 1 - 10 of 1009 results for "Representatives"

ASIC bans Queensland financial adviser

ELIZA BAVIN  |  WEDNESDAY, 20 MAR 2024
... began when ASIC surveillance found it was providing poor financial advice and wasn't adequately supervising representatives. Rose's banning has been recorded on ASIC's banned and disqualified register, though he has the right to appeal to ...

ASIC succeeds in conflicted remuneration case

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... has established that, during the relevant period, the steps that RM Capital took to ensure that its authorised representatives did not accept conflicted remuneration fell short of the reasonable steps that s 963F of the Corporations Act required of a ...

Super funds convene with assistant treasurer

ANDREW MCKEAN  |  MONDAY, 26 FEB 2024
Representatives from the Super Members Council (SMC) met with assistant treasurer Stephen Jones to explore strategies for bolstering customer service. Industry super funds, in collaboration with the SMC, initiated a roundtable discussion last week with ...

AMP reports boost in IFA flows, mulls advice unit options

KARREN VERGARA  |  WEDNESDAY, 14 FEB 2024
... said AMP's adviser network has consolidated in terms the number of practices and advisers, but the number of representatives has stabilised year on year. Average revenue per adviser and practice of $1.75 million is above industry norms, he said. ...

Unlicensed crypto investor faces jail time

CHLOE WALKER  |  TUESDAY, 6 FEB 2024
... financial counsellors, not by individuals or corporations who neither hold an AFS licence, nor are authorised representatives of an AFS licensee," it said. "Crypto assets are highly speculative investments... ASIC urges Australians to invest with caution." ...

Penta Capital fined for fabricated FUM

KARREN VERGARA  |  MONDAY, 22 JAN 2024
... authorised representative". Its associated entities Penta Asset Management and SEQ Asset Management were authorised representatives of AFS Licensee Avalon Funds Management between 1 September 2022 and 19 April 2023. Avalon Funds Management is not the ...

Adviser numbers stable at 15,650

KARREN VERGARA  |  MONDAY, 15 JAN 2024
... Financial Adviser Register data, the analysis found that AMP Financial Planning still has the highest number of representatives with 477. It had 546 at the start of 2023, a 13% drop in adviser numbers. Morgans Financial with 427 comes second place, while ...

E&P chief exits early

KARREN VERGARA  |  MONDAY, 4 DEC 2023
... announced by the Company on 14 November 2023," E&P said. E&P settled the Shine-led class action, which related to representatives giving conflicted advice for its in-house product, the Masters Residential Property Fund (URF), for $16 million. Shine alleged ...

AFCA secures $1.2bn in refunds

CASSANDRA BALDINI  |  TUESDAY, 21 NOV 2023
... formal decision. Of its 46,097 members, 10,494 are firms, and the remaining 35,603 are individual authorised credit representatives. It pointed out that 69% of its financial firm members have not received any complaints. AFCA chief executive and chief ...

E&P settles class action for $16m

KARREN VERGARA  |  WEDNESDAY, 15 NOV 2023
E&P Financial Group has settled a class action relating to investment advice representatives gave for its in-house product, the Masters Residential Property Fund (URF) for $16 million. The lawsuit led by Shine Lawyers alleged that E&P's financial ...
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