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Showing 51 - 60 of 1070 results for "licensees"

Advice from Shartru failed best interests duty, ASIC says

JAMIE WILLIAMSON  |  MONDAY, 31 JUL 2023
... 2012. It added a compliance manager in January of this year, followed by a risk and compliance manager in April. "AFS licensees are responsible for ensuring their representatives comply with financial services laws. ASIC expects licensees to have adequate ...

Insignia Financial plans advice business transformation

JAMIE WILLIAMSON  |  THURSDAY, 27 JUL 2023
The wealth group will consolidate its self-employed licensees under one brand, to be owned by the advisers via a new equity model. It has also confirmed it will divest most of its holding in Godfrey Pembroke and is looking to sell Millennium3. Insignia ...

Industry grapples with looming cyber threats

CHLOE WALKER  |  THURSDAY, 27 JUL 2023
... regularly reviewed or tested. Bright Corporate Law principal David Jacobson says serious penalties and costs can apply to licensees who fail to protect confidential and sensitive personal information of clients. Referencing the Federal Court judgement ...

Advisers' experience stands at 14.5 years

KARREN VERGARA  |  WEDNESDAY, 19 JUL 2023
... up five years' experience or less. Around 10% of registered advisers have exactly five years' experience. The biggest licensees such as AMP Financial Planning have on average 15.3 years of experience. Morgans Financial advisers have 17.3 years, while ...

Trustees lack urgency, strategy on RIC: Regulators

KARREN VERGARA  |  TUESDAY, 18 JUL 2023
... collecting information on members, in and of itself, would not result in the provision of financial product advice. "RSE licensees seeking to avoid providing personal financial advice to their members should therefore focus on the way they communicate ...

CFS settles super fees class action

JAMIE WILLIAMSON  |  FRIDAY, 14 JUL 2023
... Commission revealed that since 2013, CFS had paid about $400 million in commissions to financial advisers and their licensees. Slater and Gordon said this was funded by the high fees being charged to members - namely the members who joined pre-2013 and ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... yesterday, the levy to be paid per adviser has almost tripled from the $1142 that it was frozen at in recent years. Licensees will pay a minimum levy of $1500 plus $3217 per adviser. The total estimated cost recovery amount is $55.5 million for licensees ...

Adviser registration extended to October

KARREN VERGARA  |  WEDNESDAY, 31 MAY 2023
... provide further guidance to advisers to comply with the registration process, as well as help Australian Financial Service Licensees register their relevant providers. "The registration requirement is new. It is separate, and in addition to, the pre-existing ...

Farewell Michael Harrison

JAMIE WILLIAMSON  |  MONDAY, 22 MAY 2023
... founder Don Trapnell said: "With his help, we transformed Synchron into one of the largest non-institutionally owned licensees in the country and a preferred dealer group for both younger advisers and our traditional network of older advisers." "He was ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... Justice Hespe found that all four subsidiaries contravened their overarching obligations as Australian financial services licensees to act efficiently, honestly and fairly. It was during the 2018 Hayne Royal Commission that the egregious conduct came ...