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Showing 81 - 90 of 149 results for "Financial Wisdom"

Consumer awareness of vertical integration plummets

LAURA MILLAN  |  TUESDAY, 5 AUG 2014
... institutions has significantly increased over the past year. In 2013, 51% of the clients using Commonwealth Bank-owned Financial Wisdom thought that the dealer group was independent, but that number increased to 55% in 2014, according to Roy Morgan research. ...

CBA unveils tougher adviser standards

LAURA MILLAN  |  MONDAY, 14 JUL 2014
... "we will want our advisers to be part of an industry association." Commonwealth Financial Planning (CFPL) and Financial Wisdom were accused of not being transparent enough in the way they gave financial advice to their customers and in how they dealt ...

Retired High Court judge to chair CBA review panel

LAURA MILLAN  |  FRIDAY, 11 JUL 2014
... past years and of the way it dealt with consumer complaints. Customers of Commonwealth Financial Planning and Financial Wisdom who may have received poor financial advice between September 2003 and July 2012 will be able to request a review under the ...

CBA's Narev leaves key questions unanswered

LAURA MILLAN  |  FRIDAY, 4 JUL 2014
... made redundant as a consequence of the scandals involving the bank's Commonwealth Financial Planning (CFPL) and Financial Wisdom. "We went through a process of making sure that the involvement of everybody was looked at, but we are not going to make ...

CBA opens up compensation review to all advice clients

LAURA MILLAN  |  THURSDAY, 3 JUL 2014
... Advice Review program will re-evaluate the advice given to clients of Commonwealth Financial Planning (CFPL) and Financial Wisdom. The bank has set up a dedicated team, a website and a phone number to attend customer's demand for a review process that ...

Inquiry sees spike in demand for legal action against CBA

LAURA MILLAN  |  WEDNESDAY, 2 JUL 2014
... lifetime savings." The inquiry was prompted by cases of bad advice within Commonwealth Financial Planning (CFPL) and Financial Wisdom, both owned by CBA. Ivantsoff said that the victims have shown him letters from Financial Wisdom saying that "they have ...

CBA needs to"lift its game": Treasurer

LAURA MILLAN  |  MONDAY, 30 JUN 2014
... request to set up a Royal Commission into the cases of adviser misbehaviour within CBA Financial Planning and Financial Wisdom. The government has not yet made its position public regarding the request for a Royal Commission. Last Friday, Prime Minister ...

CBA apologies again, refutes reckless culture accusations

LAURA MILLAN  |  FRIDAY, 27 JUN 2014
... written statement. "The Group takes very seriously the past events in [Commonwealth Financial Planning] CFP and [Financial Wisdom] FWL. The Group has worked openly and transparently with the Senate Committee and ASIC throughout the inquiry." However ...

Financial Wisdom to face class action for poor advice

LAURA MILLAN  |  MONDAY, 16 JUN 2014
Commonwealth Bank-owned Financial Wisdom will face a class action started by Shine Lawyers for inappropriate investment advice to more than 3,000 clients. Shine Lawyers confirmed to Financial Standard that the law firm is now collecting evidence to ...

CBA does not address "sketchy" info allegations

LAURA MILLAN  |  THURSDAY, 29 MAY 2014
... which both organisations had refused to make public. It said that not all CBA Financial Planning and CBA-owned Financial Wisdom customers were offered $5,000 to pay for an independent review of their compensation, that not all received written communications ...