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Showing 131 - 140 of 608 results for "Big Four"

Financial advice exit a boon for the industry: Poll

KARREN VERGARA  |  MONDAY, 8 APR 2019
The big four banks exiting financial advice received a resounding welcome from the industry, according to a new survey. The majority of respondents (62%) polled in Financial Standard's sister publication FS Advice agreed the move will have positive ...

Banks must prioritise NPP, says Reserve Bank

ELIZABETH MCARTHUR  |  TUESDAY, 19 MAR 2019
... Platform seems to be another headache for the big banks. Reserve Bank governor Philip Lowe asked the chief executives of the big four to confirm they are putting significant resources into rolling out the high speed payment system last year. In emails ...

KPMG brings remediation regtech to Australia

HARRISON WORLEY  |  TUESDAY, 5 MAR 2019
The big four consultancy is bringing an AI-driven regtech with the ability to assess remediation files to our shores. UK-based regtech Recordsure will arrive in Australia after the firm formed an alliance with global consulting giant KPMG to roll-out ...

Platforms steady after Royal Commission

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
Platforms at the big four banks, AMP and IOOF can breathe a sigh of relief after the Royal Commission's final report. Commissioner Kenneth Hayne did not recommend either structural separation or wider approved product lists. And this could slow ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... problem of changing culture more than needing to pass new law. Fee-for-no service EUs didn't work The report cited the big four's treatment of ASIC's 2015 investigations. It showed they had charged fees for services they did not provide and the regulator ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... advice, superannuation and platforms. Responding to the Commissioner's interim report late last year, Australia's big four banks, AMP and Macquarie said Hayne should avoid recommending legislative action disturbing the model which has been widely ...

OPINION: Post RC, where to now for retail super?

ALEX DUNNIN  |  MONDAY, 4 FEB 2019
... interest declarations and enhanced disclosures to regulators. The exodus of financial advisers from the big six groups (big four banks + AMP + IOOF) should now step up a gear. In just the past two years the share of advisers in boutique non-aligned advice ...

Royal Commission to suppress bank stocks

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... briefing recently. Figures from the Australian Shareholders' Association show retail investors highly favour the big four banks above other major blue-chip stocks like BHP, Telstra and IAG. For example, more than half (53%) of shareholders in CBA ...

DomaCom partners with big four bank

HARRISON WORLEY  |  FRIDAY, 1 FEB 2019
A big four bank will pilot fractional property investing with DomaCom. The investment platform said it had partnered with an unnamed big four bank, who is set to launch a six-month pilot for fractional investment with the firm. According to DomaCom ...

Advice groups sign on to HUB24

KANIKA SOOD  |  WEDNESDAY, 9 JAN 2019
... share of the total masterfunds market ($380 billion), platforms ($343 billion) and master trusts ($137 billion) and the big four dominate. BTFG has the biggest slice of the pie, administering about with $157 billion in FUM (18% of the $860 billion market). ...