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Showing 91 - 100 of 186 results for "Advice fees"

AAT overrides adviser ban

KARREN VERGARA  |  FRIDAY, 21 SEP 2018
... Holdings. Between 14 May 2007 and 30 November 2012, ASIC's investigation found Hutchison banked clients' cheques for advice fees into his personal bank account when he was obliged to remit or report them to RI Advice. He also failed to record the ...

Choice members worse off in retirement: Research

KARREN VERGARA  |  TUESDAY, 18 SEP 2018
... key factors behind the underperformance, the research said. The difference between choice total fee fees (excluding advice fees) and MySuper fees is 0.83% compared to 0.78% respectively. AIST chief executive Eva Scheerlinck said the findings were timely ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
ASIC commenced Federal Court action against MLC Nominees and NULIS today in relation to the significant advice fees charged to superannuation members despite no financial advice being provided. ASIC alleges NULIS and MLC Nominees - the current and former ...

Super fees outpace asset growth: Research

KARREN VERGARA  |  MONDAY, 13 AUG 2018
... months to 30 June 2018, rising 10% on the prior corresponding period (this excluded insurance premiums and additional advice fees). Across all products, the average fee stood at 1.23% compared to 1.16% in 2017. The average MySuper total expense ratio ...

Conflict of interest too great for NULIS: Royal Commission

HARRISON WORLEY  |  THURSDAY, 9 AUG 2018
... and I think at that point, the trustee would need to turn its mind to whether or not that was adequate in respect of advice fees that were paid to licensees for superannuation members." Yesterday Hodge observed NAB was in a "hopelessly conflicted" situation ...

Former NULIS chair faces Royal Commission

KANIKA SOOD  |  TUESDAY, 7 AUG 2018
... The former chair of NAB's superannuation entities has denied MLC tried to bill other services in order to claim advice fees. Nicole Smith was the NULIS Nominees chair from 2013 to 2018, and she faced the Royal Commission this afternoon as it resumed ...

Plan service fees did not constitute fee for no service: NAB

HARRISON WORLEY  |  TUESDAY, 7 AUG 2018
... ways it could keep plan service fees it charged to customers. Initially, MLC announced it would refund $67 million in advice fees, however the compensation figure now stands at $87.1 million, after NULIS handed the updated figure to the Commission in ...

NAB looked to keep plan service fees, Royal Commission hears

HARRISON WORLEY  |  TUESDAY, 7 AUG 2018
... counsel assisting Michael Hodge suggested the group looked for any possible way it could avoid refunding customers for advice fees it had wrongly charged. "Can I put this to you very bluntly, and we'll go through the documents. What you did was to ...

Lose grandfathered commissions, lose business: MLC

KARREN VERGARA AND JAMIE WILLIAMSON  |  MONDAY, 6 AUG 2018
... said AMP, CBA, IOOF, ANZ and StatePlus Super admitted to engaging in miscount or possible misconduct with respect to advice fees in their submissions.

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
Superannuation funds are coming clean about charging members advice fees in return for no services well before the financial services Royal Commission kicks into its latest round of public hearings. In the Royal Commission's fifth round, which kicked ...