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Showing 101 - 110 of 192 results for "Advice fees"

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 ...

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 ...

The future of advice fee structures

JAMIE WILLIAMSON  |  MONDAY, 18 JUN 2018
... financial advice businesses in the post-Royal Commission world, financial advisers must separate planning and product advice fees, as well as benchmark both planning advice fees and portfolio performance. That is the view of DFS Portfolio Solutions ...

Macquarie platform, wrap businesses soar

KARREN VERGARA  |  FRIDAY, 4 MAY 2018
... fee structure as a "collection mechanism" that automatically disposes clients' assets to cover administration and advice fees. The Commission found a number of AMP products on its platforms were not competitively priced much to the financial disadvantage ...

ROYAL COMMISSION: Top stories

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
... were brought to light`, as well as its inaction to comply with the legislative changes concerning opt-in financial advice fees. AMP head of platform development John Keating acknowledged the firm has failed its legal obligations to enable customers to ...