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Showing 111 - 120 of 261 results for "General advice"

Superannuation Consumer Advocate proposal needs work

KARREN VERGARA  |  THURSDAY, 4 APR 2019
... million community benefits after ASIC found branch staff sold superannuation products to customers under the guise of general advice and not personal advice. Frydenberg also allocated to the Superannuation Complaints Tribunal (SCT) $2.3 million over ...

Consumers confused by general, personal advice

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... personal advice, but only 53% of those surveyed correctly identified 'general' advice. "And even when provided the general advice warning, nearly 40% of those surveyed wrongly believed the adviser had an obligation to take their personal circumstances ...

Super funds eye intra-fund advice shake-up

KARREN VERGARA  |  FRIDAY, 15 MAR 2019
... restrictive. If it doesn't expand, it would be difficult for super funds and financial advisers not to go down the general advice path, he said, pointing out that many members will not seek or pay for personal advice. Bowtell said the discussion ...

ASIC appeals Westpac Federal Court decision

JAMIE WILLIAMSON  |  MONDAY, 18 FEB 2019
... constituted personal financial advice. Under their respective AFSLs, WSAL and BTFM are only licensed to provide general advice. ASIC has now filed an appeal of the decision, seeking greater clarity and certainty as to the difference between general and ...

Former Macquarie advisers have bans reduced

JAMIE WILLIAMSON  |  TUESDAY, 12 FEB 2019
... falsified the content of client email exchanges to mislead or deceive Macquarie's compliance team into believing general advice or execution only instructions had been given, not personal advice. They then arranged for the same false emails to be saved ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... the [inquiry]." He pointed to the attempts made by ANZ and CBA to sell superannuation in bank branches under a general advice scenario - which "may have contravened the law." He echoed the Productivity Commission's recommendation that an employee ...

VicSuper updates digital advice offering

HARRISON WORLEY  |  TUESDAY, 22 JAN 2019
... Beeline digital guidance and advice tool. The update means VicSuper members now have a new mix of personal and general advice they can access at no additional cost, and whenever they like, given the Beeline's mobile responsiveness. According to the fund ...

Managed accounts not immune to Royal Commission

KARREN VERGARA  |  TUESDAY, 22 JAN 2019
... offer superannuation funds, managed investment schemes and advisers associated with them would be able to provide general advice on their own products, she said. Furthermore, Wivell Plater foresees a major shakeup in advice fee models across ongoing ...

AFSL super options under the lens

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
The final report recommends ASIC should have greater oversight of the superannuation products sitting on the approved product lists of AFSLs. The Productivity Commission calls for all Australian Financial Services Licensees (AFSL) to "immediately" be ...

ASIC and Westpac court battle sees mixed outcome

DARREN SNYDER  |  FRIDAY, 4 JAN 2019
... to 15 customers over the consolidation of superannuation accounts. WSAL and BTFM are only permitted to provide general advice under their respective Australian Financial Services Licence (AFSL). The judge said each of the 15 phone calls to customers ...