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Showing 101 - 110 of 213 results for "Advice fees"

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 ...

Westpac exits personal advice, restructures leadership

JAMIE WILLIAMSON | TUESDAY, 19 MAR 2019

... million per annum. The group confirmed it is on track to complete customer remediation programs in relation to ongoing advice fees charged by salaried advisers by Q4 2019. Remediation programs regarding authorised representatives are ongoing. Under the ...

Sunsuper introduces advice fee caps

JAMIE WILLIAMSON | THURSDAY, 28 FEB 2019

... 1.1% of the balance per annum (including GST) and payable monthly for up to two years. The fund will not pay ongoing advice fees for members with a balance of less than $50,000. Speaking to Financial Standard, Sunsuper head of advice and retirement Anne ...

Hayne targets superannuation employer connections

KARREN VERGARA | MONDAY, 4 FEB 2019

... to include a civil penalty provision in the event of a breach - which is to be enforceable by ASIC. Stop deducting advice fees from MySuper accounts Hayne recommends the cessation of advice fees and other intra-fund advice fees deducted from MySuper ...

Simpler fee disclosure on ASIC agenda

KARREN VERGARA | WEDNESDAY, 9 JAN 2019

... line item; present investment fees and costs as one line item by merging investment fees and indirect costs; remove advice fees or intra-fund advice costs as a line item and disclose it as part of administration fees; and group together the ongoing annual ...

Ten stories that defined the Royal Commission

HARRISON WORLEY | WEDNESDAY, 19 DEC 2018

... charged fees for no service in order to maintain profit levels. It was revealed earlier that $67 million in general advice fees had been charged to members of MLC's MasterKey Personal Super products, despite the fact not all members were told clearly ...

ASIC strips Melbourne firm of AFSL

KANIKA SOOD | MONDAY, 3 DEC 2018

... superannuation providers and insurance products, according to ASIC. "When consumers implemented the advice, significant advice fees were paid to Financial Circle directly from the consumer's superannuation. Financial Circle also received ongoing ...

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Federal Court calls out ASIC for re-running case on appeal

RIDDHIMA TALWANI

The Full Federal Court of Australia has criticised regulators for falling back on appeals to re-litigate cases on a different legal basis than the one run at trial.

Evergreen founder exits Ascalon Capital

KARREN VERGARA

Ascalon Capital has bid farewell to Evergreen Consultants' founder Angela Ashton, shortly after acquiring the consulting firm last year.

Powerhouse Ventures partners with European fund manager

KARREN VERGARA

ASX-listed Powerhouse Ventures has partnered with an unnamed European fund manager that will commit US$50 million to its fledgling Critical Infrastructure Opportunities (CIO) Fund.

KeyInvest unveils new investment platform, awards mandate

MATTHEW WAI

KeyInvest has launched a new investment platform to include a plethora of investment strategies ranging from private credit to global equities.

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