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Showing 1331 - 1340 of 4944 results for "fees"

ASIC drags CommSec to court

ELIZABETH MCARTHUR  |  MONDAY, 1 MAR 2021
ASIC has commenced civil proceedings against CommSec and AUSIEX in the Federal Court. CommSec overcharged brokerage fees to customers on 120,933 occasions totalling $4,352,194 between August 2010 and February 2020, ASIC alleges and CommSec has admitted. ...

Raiz increases fees for lower balances

ELIZA BAVIN  |  MONDAY, 1 MAR 2021
... increasing the monthly fee for lower balance customers. The financial services platform announced it would be increasing some fees for its Australian customers. The monthly maintenance fee will increase to $3.50 for active account balances of less than ...

Aware Super rejigs MySuper option

KANIKA SOOD  |  FRIDAY, 26 FEB 2021
... best interest and our modelling supports that fact that for a 45-year-old, they are likely to have $16,000 better off [after fees] when they retire than under the current structure," Chun said. He said a 25 or 30-year-old Aware member would end up with ...

Centrepoint Alliance posts $1.6m NPAT

KANIKA SOOD  |  FRIDAY, 26 FEB 2021
... for the period was $70.6 million up 15% to the six-months ending June. Centrepoint's revenue comes from a mix of adviser fees, rebates, investment margin and its Enzumo business. NPAT was $1.6 million, compared to a loss of $1.5 million for the same ...

Government passes advice, super reforms

ANNABELLE DICKSON  |  FRIDAY, 26 FEB 2021
Financial advisers will now need prior written consent each year from clients before deducting fees, while funds from Eligible Rollover Funds must now be reunited with members within 28 days. Two key pieces of legislation were passed yesterday: the ...

ASIC takes NAB to court

KANIKA SOOD  |  THURSDAY, 25 FEB 2021
The corporate regulator has taken NAB to the Federal Court, alleging the bank wrongly charged customers fees for at least 12 years. The regulator yesterday filed initial documents with the Federal Court's Queensland registry, seeking orders that NAB ...

Australian Ethical continues growth trajectory

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 FEB 2021
... we continue to position our business for success. Looking forward, as part of our fee strategy, we will continue to reduce fees as we grow, to increase our competitiveness, and pass on benefits to our customers." The fund manager also allocated $700,000 ...

Mergers prompt 13% fee drop

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... funds are $15,000 better off in retirement, new research shows. An analysis by Super Consumers Australia (SCA) found MySuper fees of merged entities dropped by 13.4% on average. The consumer advocate group looked at eight mergers that occurred in 2019 ...

PIMCO eyes ETFs

KANIKA SOOD  |  MONDAY, 22 FEB 2021
... a $1 billion listed investment trust (LIT) but pulled the brakes as Treasury announced a public consultation on stamping fees for LICs and LITs. Treasury eventually removed stamping fees from LICs and LITs, which were allowed to pay financial advisers ...

Continuous disclosure laws to stay

KARREN VERGARA  |  WEDNESDAY, 17 FEB 2021
... to those funds," she said. A Financial Services Council analysis found stapling can save consumers up to $1.8 billion in fees in the first three years after implementation, chief executive Sally Loane said, but is concerned about the performance benchmarks. ...