Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 111 - 120 of 1254 results for %22Advice fees%22

Advice fees jump 16% in FY22

CASSANDRA BALDINI  |  FRIDAY, 21 OCT 2022
Initial advice fees charged by financial advisers on a per advice document basis increased 16% in FY22 to $3315 from $2859 the previous year. According to the Padua Advice Fee Data Report, FY 2022 ongoing advice fees charged by advisers on a per advice ...

Choice performance test pause in members' best interests: Chant West

CASSANDRA BALDINI  |  FRIDAY, 14 OCT 2022
... metric. This would provide a much fuller picture of overall performance," he said. Separately, commenting on the Quality of Advice Review's recent proposals paper, Zenith Investment Partners chief executive David Wright said he is not satisfied with ...

Industry funding model discussion commences

JAMIE WILLIAMSON  |  FRIDAY, 30 SEP 2022
... sub-sectors with similar types of entities and similar types of regulated activity, like having two sub-sectors within financial advice - in place of four. One would be for licensees providing personal advice to retail clients on relevant financial products ...

AMP cops $14.5m penalty over fees for no service

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
... and $6 million by AMP Life. The fees for no service were charged to 1452 Flexible Super members who had access to general advice through their employer. Despite moving on from that employer and no longer having access to the services, they continued ...

Chant West launches platform rankings

CASSANDRA BALDINI  |  TUESDAY, 30 AUG 2022
... wealth of knowledge and experience in understanding how a platform operates and how it interacts with and supports the advice community," he said. A statement advised the platform ratings' methodology focuses on five main criteria: adviser services ...

A sensible roadmap: Industry responds to QAR paper

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
... proposals, saying the consultation paper released today provides "a sensible roadmap" and a way forward. The Quality of Advice Review consultation paper was released this afternoon, outlining several substantial changes Levy believes are necessary for ...

Focus on providing 'good advice': QAR draft proposals

JAMIE WILLIAMSON, CASSANDRA BALDINI  |  MONDAY, 29 AUG 2022
... to deduct fees from financial products, with obtaining annual written consent from their client to deduct ongoing advice fees from a financial product. Levy added that the consent form should explain the services that will be provided as well as the ...

MobiSuper, licensee to pay $250k penalty

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
MobiSuper and its licensee will pay a $250,000 penalty for breaching superannuation advice laws while promoting the MobiSuper fund. MobiSuper and ZIB Financial will pay the combined penalty after the Federal Court found MobiSuper representatives had ...

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
... institutions have paid or offered a total of $3.6 billion in compensation to consumers over fees for no service and non-compliant advice. The new stats come as the Financial Planning Association of Australia calls for an extension to the adviser levy ...

Aware Super overhauls fee structure

CASSANDRA BALDINI  |  FRIDAY, 19 AUG 2022
... drive down costs for members, maintain a record of strong, long-term returns, and expand the range of products, guidance, advice and education services available to members." Stewart added the super giant now has more than $150 billion of retirement ...