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Showing 101 - 110 of 219 results for "Advice fees"

Frydenberg flags new advice disciplinary system

HARRISON WORLEY  |  MONDAY, 19 AUG 2019
... writing - are set to be consulted on and introduced by 30 June 2020, alongside action on the recommendation to halt advice fees from being deducted from MySuper accounts. The government also committed to reviewing measures implemented by government ...

ASIC to crack down on platform fees

ELIZABETH MCARTHUR  |  WEDNESDAY, 14 AUG 2019
... conduct through a platform seems to be part of what ASIC is looking into. It asked platforms whether personal or general advice fees were included in the fee disclosure statement. It also asked whether fee disclosure statements included details of commissions ...

CBA remediation bill drags performance

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2019
... Financial Planning reported $73 million of income - a whopping 43% drop year on year - driven by lower volumes of initial advice fees and the cessation of ongoing service fees in February 2019. As a result of lower performance fees and AUM, CFSGAM's ...

Risk commission changes imperil advice practices

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2019
... are currently charging a fee for service. ClearView estimates advisers charge $3450 per annum on average for ongoing advice fees. Upfront costs for a typical life insurance policy on the other hand, sit roughly between $1750 and $2875. Putting aside ...

The case for tax deductible advice

JAMIE WILLIAMSON  |  MONDAY, 3 JUN 2019
... members, is arguing that as financial advice moves closer to professionalising, it should be treated as such and upfront advice fees should receive tax-deductible status. At present, under the Income Tax Assessment Act 1997, fees for drawing up financial ...

Melbourne advisory launches MDA

HARRISON WORLEY  |  THURSDAY, 30 MAY 2019
... manager fee rebates funds passed on to them in full. "Strategic Wealth has chosen to be solely remunerated through advice fees - we do not share in the MDA revenue. All up, we think, this is an outstanding offer for clients." Philo chief executive Brett ...

Westpac reveals Magnitude, Securitor adviser remediation

HARRISON WORLEY  |  WEDNESDAY, 1 MAY 2019
... its first half result based on currently available information relating to the costs of remediating "certain ongoing advice fees" charged. The group said it would make a $510 million pre-tax provision based on a range of accounting assumptions in relation ...

Fee for no service on APRA and ASIC radar

KARREN VERGARA  |  WEDNESDAY, 10 APR 2019
... ensuring the fee for no service debacle is not repeated. The regulators are taking a more stringent stance on financial advice fees charged without the provision of relevant services, pointing to the controversy exposed by the financial services Royal ...

ClearView defends risk advice commissions

KARREN VERGARA  |  TUESDAY, 26 MAR 2019
... average person and shut down hundreds of advice businesses. It wants financial advice, together with life insurance advice fees, to be tax deductible. Currently, investment advice fees are tax deductible against income-producing assets. This tax incentive ...

Remediation to hit Westpac earnings

HARRISON WORLEY  |  MONDAY, 25 MAR 2019
... banking accounted for the remainder. Key in the bank's remediation provisions is increased customer refunds for ongoing advice fees charged by Westpac salaried financial planners. The bank increased its initial estimates of instances where records of ...

Editor's Choice

Praemium's new leadership toughens earnings yardstick

RIDDHIMA TALWANI
Praemium's new leadership will be keeping a close eye on costs, with new chief executive Denis Orrock noting he will make sure the technology upgrade underway translates into stronger earnings and better returns for shareholders.

Australian Ethical FUM drops by $70m

RIDDHIMA TALWANI
Australian Ethical saw a net outflow of $100 million in its investment business in the first quarter of the financial year.

Perennial expands wholesale offer for pre-IPOs

MATTHEW WAI
Perennial Partners is launching a new strategy for wholesale investors to capitalise on global pre-IPO opportunities, requiring a minimum investment of $100,000.

Macquarie wealth investment chief to depart

MATTHEW WAI
Macquarie chief investment officer for wealth will take on a new role at a New Zealand-based investment management firm after serving in the position for close to three years.

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