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Showing 1011 - 1020 of 6745 results for "Profit"

Forex CT cops $20 million fine

ANNABELLE DICKSON  |  WEDNESDAY, 2 JUN 2021
The Federal Court has handed down a $20 million penalty to Forex Capital Trading for engaging in a system of unconscionable conduct, including the use of high-pressure sales tactics, conflicted remuneration and failing to act in the best interests of ...

Class action consultation opens

ANNABELLE DICKSON  |  TUESDAY, 1 JUN 2021
Following industry backlash last year, the government is consulting on the recommendations for litigation funding and class actions. The Parliamentary Joint Committee on Corporations and Financial Services Report Litigation funding and the regulation ...

Former adviser jailed for six years

KARREN VERGARA  |  WEDNESDAY, 26 MAY 2021
A former financial adviser will spend six years in prison for stealing nearly $3 million of clients' superannuation money. The District Court of New South Wales found Ross Andrew Hopkins, from Killara, guilty of 15 offences. Hopkins was the sole ...

Local Government Super rebrands, reduces fees

JAMIE WILLIAMSON  |  TUESDAY, 25 MAY 2021
... Kyle Loades said the fund's investments, operations and service is not impacted by the change and that it remains a profit-to-member fund. "It is important that we stay true to our heritage and that we focus on our members, delivering a solid performance ...

JANA appoints head of sustainability

KANIKA SOOD  |  MONDAY, 24 MAY 2021
... JANA had $850 billion in assets under advice as at 31 December 2020. It is the largest asset consultant in the not-for-profit superannuation market and has expanded into managed accounts in recent years. Halpern's appointment is effective May 24. "I ...

Platform cuts fees

ELIZABETH MCARTHUR  |  MONDAY, 24 MAY 2021
A specialist managed accounts platform has cut the administration fee on its superannuation offering. Wealth02 lowered the admin fee on its Super Simplifier by 3.3 basis points, capping fees at $1760 per member or $3630 across six family members. The ...

Advisers filter clients via ethical lens

KARREN VERGARA  |  FRIDAY, 21 MAY 2021
... stay viable and paying out huge overheads in the form of licence, education and insurance costs and the like - making a profit is not unethical. Like other for-profit organisations, financial advice businesses are "not a charity", he said. These days ...

Praemium chief executive exits

ANNABELLE DICKSON  |  FRIDAY, 21 MAY 2021
The platform chief executive has suddenly left the company after almost a decade in the role as Praemium calls in consultants to review the international business. Michael Ohanessian joined as chief executive in August 2011 and was terminated by the ...

Pinnacle affiliates reach $85bn AUM

KARREN VERGARA  |  THURSDAY, 20 MAY 2021
Pinnacle Investment Management has reported a 20% boost in assets under management across all its affiliates, hitting $84.9 billion in the space of four months. In an update to investors, the ASX-listed firm announced robust end of April 2021 results ...

Aussie charities robust prior to COVID

KARREN VERGARA  |  WEDNESDAY, 19 MAY 2021
The nation's charitable organisations reported revenues of $166 billion that grew 7% during 2019, underscoring a robust sector prior to the coronavirus pandemic. The state of the sector analysed by the Australian Charities and Not-for-profits Commission ...