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Showing 131 - 140 of 219 results for "Advice fees"

NAB looked to keep plan service fees, Royal Commission hears

HARRISON WORLEY  |  TUESDAY, 7 AUG 2018
... counsel assisting Michael Hodge suggested the group looked for any possible way it could avoid refunding customers for advice fees it had wrongly charged. "Can I put this to you very bluntly, and we'll go through the documents. What you did was to ...

Lose grandfathered commissions, lose business: MLC

KARREN VERGARA AND JAMIE WILLIAMSON  |  MONDAY, 6 AUG 2018
... said AMP, CBA, IOOF, ANZ and StatePlus Super admitted to engaging in miscount or possible misconduct with respect to advice fees in their submissions.

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
Superannuation funds are coming clean about charging members advice fees in return for no services well before the financial services Royal Commission kicks into its latest round of public hearings. In the Royal Commission's fifth round, which kicked ...

MLC refunds $67m in advice fees

KARREN VERGARA  |  FRIDAY, 27 JUL 2018
MLC will cease deducting general financial advice fees from its MasterKey Personal Super products after admitting it did not clearly communicate to members they could opt out of the service. About 305,000 MasterKey Personal Super (MKPS) members will ...

The future of advice fee structures

JAMIE WILLIAMSON  |  MONDAY, 18 JUN 2018
... financial advice businesses in the post-Royal Commission world, financial advisers must separate planning and product advice fees, as well as benchmark both planning advice fees and portfolio performance. That is the view of DFS Portfolio Solutions ...

Macquarie platform, wrap businesses soar

KARREN VERGARA  |  FRIDAY, 4 MAY 2018
... fee structure as a "collection mechanism" that automatically disposes clients' assets to cover administration and advice fees. The Commission found a number of AMP products on its platforms were not competitively priced much to the financial disadvantage ...

ROYAL COMMISSION: Top stories

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
... were brought to light`, 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 to ...

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 ...