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CommSec pays $200,000 penalty

KERRIE SYDEE  |  WEDNESDAY, 16 NOV 2016
CommSec has paid a $200,000 infringement notice penalty after failing to apply a holder record lock to the accounts of a deceased client and entering into unauthorised market transactions following the client's death. The Markets Disciplinary Panel ...

Boutique advice firm joins Fortnum

KERRIE SYDEE  |  FRIDAY, 4 NOV 2016
A former AMP aligned advisory firm has joined non-institutionally owned licensee Fortnum Financial Advisers. Cardena Private Wealth, previously Arrive Wealth Management Sydney, has joined Fortnum as the firm positions itself to continue delivering professional ...

Morningstar multi-asset funds recommended

KERRIE SYDEE  |  TUESDAY, 1 NOV 2016
... multi-asset offerings that invest across a wide range of asset classes and investment strategies. The Recommended ratings apply to the Morningstar Aggressive Real Return Fund as well as the Morningstar High Growth Real Return, Morningstar Growth Real ...

CBA reinforces gender equality through financial education

KERRIE SYDEE  |  MONDAY, 24 OCT 2016
... recommendations for the programs. CBA has implemented all eight recommendations, making it the first financial institution to apply Our Watch's 'Change the story' framework to prevent violence against women to its financial education program. The recommendations ...

Scholarship supports new advisers

KERRIE SYDEE  |  TUESDAY, 18 OCT 2016
... The Scholten Collins McKissock Scholarship in Financial Planning will begin from Trimester 1 2017. Students who wish to apply for the scholarship can find out more here.

Perpetual Global Share Fund strengthens defence

MARK SMITH  |  WEDNESDAY, 12 OCT 2016
... traditional industries. "We have done well investing in technology companies since the inception of the fund. We will continue to apply the same rigorous investment process that has served Perpetual well time and time again in a bid to find high quality ...

Life Insurance Code targets self-regulation

MARK SMITH  |  TUESDAY, 11 OCT 2016
An independent committee will have the ability to sanction insurers who do not comply with a new set of standards laid out in an industry-wide Life Insurance Code of Practice produced by the Financial Services Council (FSC). The new code, released today ...

CBA partners to finance clean energy

JAMIE WILLIAMSON  |  FRIDAY, 7 OCT 2016
... standards. For assets ranging from $10,000 to $5 million, a 0.7% discount on the bank's standard asset finance rate will apply. Investments eligible for the discount include a broad range of fuel efficient vehicles, energy efficient lighting and fittings ...

Adviser commission reforms pushed back

JAMIE WILLIAMSON  |  WEDNESDAY, 5 OCT 2016
The start date to phase down risk commissions is deferred and the Life Insurance Framework (LIF) will apply to all channels of financial advice, Kelly O'Dwyer has confirmed. The Minister for Revenue and Financial Services said the phasing down will ...

Vanguard reduces MERs on five funds

ALEX BURKE  |  TUESDAY, 4 OCT 2016
Vanguard has lowered the management expense ratios on five of its Australian funds. The fee reductions apply to the Vanguard Australian Shares High Yield Fund (from 0.4% p.a. to 0.38%), Vanguard Australian Property Securities Index Fund (0.24% to 0.23%) ...