Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 91 - 100 of 258 results for %22MLC Insurance Super%22

MLC admin error hits superannuation DB members

KARREN VERGARA  |  FRIDAY, 14 DEC 2018
MLC confirmed that one of its superannuation funds under the Plum brand incurred an administration error. It is understood the admin error affected about 30 members from a legacy ExxonMobil defined benefit scheme. MLC did not disclose if the incorrect ...

Wealth an unnecessary failure: Thorburn

HARRISON WORLEY  |  MONDAY, 26 NOV 2018
... that's a natural conversation a banker would have." According to Thorburn, the bank made several mistakes with wealth business MLC, which led to its abandonment. The first of which was failing to integrate its wealth offering into the core banking operations ...

Challenger expands distribution reach

KARREN VERGARA  |  WEDNESDAY, 24 OCT 2018
... retirement, by building retirement solutions that manage risks in retirement while maximising income, he said. Separately, former MLC and NAB Wealth executive Duncan West recently took a directorship role at Challenger. West was appointed as an independent ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... assisting Michael Hodge said it is open to Commissioner Kenneth Hayne to find that NAB and its two trustees, Nulis Nominees and MLC Nominees, breached the Corporations Act and Superannuation Industry Act with respect to plan service fees (PSF) and adviser ...

Foreign owners take over life insurance: KPMG

KARREN VERGARA  |  TUESDAY, 21 AUG 2018
... about half (47.8%) of the market share, up from 41.4% in 2014. This was driven largely by Nippon Life Japan acquiring 80% of MLC Life Insurance in 2015. CBA sold 100% of its Australian and New Zealand life insurance businesses to AIA Group for $3.8 billion. ...

MLC MySuper investment budget was tight-fisted: Royal Commission

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
... manager and asset consultant that its current investment fee budget wasn't adequate to boost the performance of its lagging MLC MySuper product, the Royal Commission heard. Resuming former NULIS chair Nicole Smith's questioning on day three ...

NULIS names new chair

KARREN VERGARA  |  TUESDAY, 7 AUG 2018
... appointed chair of NULIS in 2013, and has been on the board since October 2009. She's also served on the board PFS Nominees and MLC Nominees prior to the consolidation of the funds in 2016. Her directorship history included Goldman Sachs Australia Managed ...

Digital advice, fintech firms merge

KANIKA SOOD  |  FRIDAY, 3 AUG 2018
... long way. They were responsible for setting up MLC's Plum business of corporate superannuation in a partnership between MLC and Vanguard. Then while working at Challenger, Paul Rogan was a client of SuperEd. Most recently, SuperEd implemented the ...

Group insurers pressed for resources

KANIKA SOOD  |  MONDAY, 30 JUL 2018
... the FSC Summit last week. Other speakers included TAL's Brett Clark and APRA's Adrian Rees. The session was led by MLC Life Insurance's David Hackett. In May's Federal Budget, the Government said by 1 July 2019, group life insurance will ...

MLC refunds $67m in advice fees

KARREN VERGARA  |  FRIDAY, 27 JUL 2018
MLC will cease deducting general financial advice fees from its MasterKey Personal Super products after admitting it did not clearly communicate to members they could opt out of the service. About 305,000 MasterKey Personal Super (MKPS) members will ...