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Showing 1151 - 1160 of 7095 results for "June 2013"

RI Advice slapped with $6m penalty

KARREN VERGARA  |  FRIDAY, 4 FEB 2022
RI Advice was slapped with a $6 million penalty for failing to keep tabs on a representative who invested clients' money in risky and complex financial products. The Federal Court found that RI Advice failed to take the appropriate steps to ensure ...

Members lean on super for financial hardships

KARREN VERGARA  |  TUESDAY, 1 FEB 2022
Members continue to rely on their superannuation funds to access retirement savings based on compassionate grounds and in the event of financial hardship, APRA statistics show. Released overnight, APRA's June 2021 Superannuation Bulletin reveals ...

Insignia loses self-employed advisers

KARREN VERGARA  |  THURSDAY, 27 JAN 2022
Insignia Financial reported an exodus of self-employed advisers in the December 2021 quarter amid an overhaul of its advice fee model. The company, which recently shed the name IOOF, lost 118 advisers during the period. Most advisers (94) who left were ...

Former BT executive assumes CIO role

KARREN VERGARA  |  THURSDAY, 20 JAN 2022
The former investments chief of BT Financial Group and Suncorp has landed a new role at a $49 billon UK fund manager. Patrick Farrell is the new head of research and chief investment officer at Charles Stanley. Farrell was BTFG's chief investment officer ...

Dramatic growth in non-aligned advisers: Research

KARREN VERGARA  |  THURSDAY, 20 JAN 2022
Financial advisers tilted towards the non-aligned sector at an unprecedented rate during 2021, a new report suggests. The 71% drop in adviser numbers came from aligned AFSLs, according to Rainmaker's Financial Adviser Report. The number of aligned ...

Digital advice predicted to soar in 2022

KARREN VERGARA  |  FRIDAY, 14 JAN 2022
Asset managers and superannuation funds will ramp up their digital advice offerings in 2022 as the reality of financial advisers exiting sets in. Technology firm Finura predicts the wealth management and super sectors will invest heavily in digital ...

Retail super fund to be wound up

JAMIE WILLIAMSON  |  TUESDAY, 11 JAN 2022
A retail superannuation fund offered to customers of several small players in Australia's banking sector will close in March. Credit Union Building Societies Superannuation, known as CUBS Superannuation, is a retail offering overseen by Equity Trustees ...

VGI Partners confirms merger talks

KARREN VERGARA  |  MONDAY, 10 JAN 2022
VGI Partners quelled media speculation and confirmed that it could potentially merge with another fund manager. ASX-listed VGI Partners said Regal Funds Management is one of many parties it is engaging with for a potential merger. "VGI is aware of its ...

Media Super apologises for major calculator error

JAMIE WILLIAMSON  |  THURSDAY, 6 JAN 2022
Members of Media Super have received an apology from the fund after it was discovered the information underpinning its benefit projection tool hadn't been updated since 2015. Media Super's Retirement Income Simulator was made available on its public ...

Pension scheme, UBS divest energy companies

JAMIE WILLIAMSON  |  TUESDAY, 21 DEC 2021
A UK pension scheme and UBS Asset Management have called time on investments in five energy companies that are not working towards a low carbon economy. Nest and UBS AM have sold shares in Exxon Mobil, Imperial Oil, Kepco, Marathon Oil and Power Assets ...