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Showing 111 - 120 of 192 results for "Advice fees"

AMP platform fees laid bare

KARREN VERGARA  |  WEDNESDAY, 18 APR 2018
... mechanisms across its platforms, 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 ...

Former Charter adviser receives permanent ban

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2018
... personal bank account for services he had not provided. Poynter's business and Charter Financial Planning refunded advice fees charged to the relevant clients following an internal investigation. Prior to joining Charter Financial Planning, Poynter was ...

Vertically aligned institutions pay $21.4m compensation

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2018
... December 2017, ASIC reported that AMP and the big four banks refunded customers $215.9 million for charging ongoing advice fees that failed to provide actual general or personal advice under its fees-for-no-service review. NAB additionally paid $11.6 ...

IOOF boosts flagship platform

JAMIE WILLIAMSON  |  MONDAY, 19 FEB 2018
... receive their pension payments by the 14th or 28th of each month. Finally, all IOOF Pursuit products now have indexed advice fees attached, meaning advisers can choose to automatically index select fees by the Consumer Price Index (CPI) or a fixed percentage ...

Court fines advice firm $7.8m

KARREN VERGARA  |  FRIDAY, 9 FEB 2018
... and recommended they switch their superannuation funds and take out high-end insurance. Advisers would then charge advice fees that were paid out of consumers' super funds and received upfront and trailing insurance commissions. The upfront insurance ...

ClearView issues refunds over life sales misconduct

JAMIE WILLIAMSON  |  TUESDAY, 6 FEB 2018
... manager of distribution, Christopher Blaxland-Walker said. "While some licensees already facilitate the payment of advice fees, there are still many that don't have a practical solution, particularly in the boutique space. Our facility is available to ...

ASIC successfully files injunction against Melbourne advice provider

JAMIE WILLIAMSON  |  MONDAY, 15 JAN 2018
... personal insurance products and switch superannuation funds. Financial Circle benefited by way of the significant advice fees being payable to the practice from the consumer's superannuation and the commissions paid by insurers. A hearing on 22 December ...

Former Centra Wealth adviser banned

JAMIE WILLIAMSON  |  MONDAY, 8 JAN 2018
... invoices to them, contrary to his contractual agreement with Centra. In those invoices, Alafaci instructed clients to pay advice fees directly into his personal bank account, receiving a financial benefit. ASIC determined that Alafaci acted in his own ...

Financial advice crucial to industry fund members: Cbus

JAMIE WILLIAMSON  |  MONDAY, 8 JAN 2018
... of charge, and any fees for advice are agreed with the member in advance. Members may also be eligible to have the advice fees deducted directly from their superannuation account. Since its inception the partnership has seen more than 3000 members paired ...

NAB refunds home loan customers

KARREN VERGARA  |  TUESDAY, 19 DEC 2017
... regulator recently reported NAB was one of the big institutions that paid a huge compensation bill for charging ongoing advice fees, but failed to provide actual general or personal advice. AMP and the big four banks collectively refunded $215.9 million ...