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Showing 1321 - 1330 of 4251 results for "LIC"

Another MLC advice firm exits group

KARREN VERGARA  |  TUESDAY, 6 OCT 2020
A former MLC-licensed financial advice firm has left the dealer group following the IOOF takeover to join FYG Planners Group. Queensland-based Designing Financial Solutions (DFS), led by principal and financial planner Kevin Redfearn, is now operating ...

Benchmark-lagging LIC faces strategic review

ALLY SELBY  |  TUESDAY, 6 OCT 2020
... returned -11.38% over the six months to June 30, with the fund returning -3.92% over a 12-month period. In comparison, the LIC's benchmark, the MSCI AC World (net dividends) index, returned -4.28% and 4.08% over the same time periods. Longer term, TGG ...

ANZ fined $10m

ELIZABETH MCARTHUR  |  FRIDAY, 2 OCT 2020
ANZ will pay $10 million in penalties for unconscionable conduct after the Federal Court found it breached its obligations as a financial services licensee. Between August 2003 and September 2015, it was found ANZ charged certain fees to personal and ...

Adviser charged with stealing super

ELIZABETH MCARTHUR  |  FRIDAY, 2 OCT 2020
A West Australian financial adviser who has worked across some of Australia's largest licensees could face 15 years in jail after being charged with four counts of dishonest conduct in relation to hardship superannuation requests. Rahul Goel is ...

Vanguard to cull institutional mandates

KANIKA SOOD  |  FRIDAY, 2 OCT 2020
The investing giant will wind up mandates with 12 local institutional investors, as it pivots away from the lower-fee business line to retail, adviser and its in-house super offering. Vanguard will discontinue special mandates but still allow them in ...

RBA, ASIC provide CHESS guidance

ALLY SELBY  |  FRIDAY, 2 OCT 2020
ASIC and the Reserve Bank of Australia have outlined their expectations for the replacement of ASX's clearing and settlement system CHESS, as it shifts towards more contemporary and flexible software. The importance of replacing the system in a timely ...

CountPlus member firm makes acquisition

ANNABELLE DICKSON  |  THURSDAY, 1 OCT 2020
CountPlus has continued its goal to generate scale with one of its member firms completing a tuck-in acquisition of a separate member firm. Brisbane-based Cooper Reeves has acquired the financial advice services of CBD Wealth Solutions. Key members ...

ASX director retires

ALLY SELBY  |  WEDNESDAY, 30 SEP 2020
A non-executive director has departed the ASX after more than 14 years of service, having joined the board in 2006 following its merger with the Sydney Futures Exchange. Announcing Peter Warne's retirement during the exchange's annual general ...

CBA progresses with divestment to AIA

ANNABELLE DICKSON  |  WEDNESDAY, 30 SEP 2020
Commonwealth Bank has received another payment furthering the divestment of its life insurance business to AIA Group. CBA has received a payment of approximately $450 million for the sale of CommInsure Life with the proceeds resulting in a pro forma ...

ETFs undermine product comparison: Research

KARREN VERGARA  |  TUESDAY, 29 SEP 2020
The proliferation of products in the booming exchange-traded funds market is confusing investors and making it impossible to make like-for-like comparisons. New research from the US shows the exchange-traded product industry operates opaquely on many ...