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Showing 131 - 140 of 261 results for "General advice"

Intra-fund advice conflicted: Royal Commission

KARREN VERGARA  |  THURSDAY, 16 AUG 2018
... are in place between FirstChoice Employer and Financial Wisdom. Intra-fund advice, Chun said, does "not go beyond general advice." In essence, members receive advice around the benefits in their superannuation fund, whether it's to do with insurance ...

ANZ grilled over Smart Choice sales

JAMIE WILLIAMSON  |  THURSDAY, 16 AUG 2018
... customer's financial situation as well as their goals and objectives, and then read a delinking statement and a general advice statement before recommending products, Pankhurst said. Hodge asked Pankhurst whether he was aware that ASIC's position ...

Former NULIS chair faces Royal Commission

KANIKA SOOD  |  TUESDAY, 7 AUG 2018
... contribution fee) and a planned service fee. The contribution fee referred to commission while the PSF referred to a general advice fee. "To be honest, I haven't actually considered the legal construct of [the] contribution fee as to whether it is ...

Plan service fees did not constitute fee for no service: NAB

HARRISON WORLEY  |  TUESDAY, 7 AUG 2018
... Carter, the rationale for NAB's distinction is that many of its members charged PSFs "would have been receiving general advice services." Hodge disagreed, and said "they would have been receiving them anyway, regardless of whether they were paying the ...

NAB looked to keep plan service fees, Royal Commission hears

HARRISON WORLEY  |  TUESDAY, 7 AUG 2018
... services being provided by MLC could justify the plan service fee charges, given the PSF was disclosed as being for general advice and support services. NAB however concluded it could not justify the fees in that manner. "Given that the fee was disclosed ...

Productivity Commission proposes more changes to financial advice

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... associated with 'personal advice' or advice that takes into consideration personal circumstances. 'General advice,' it said, is misleading. The "use of the term 'advice' should be limited to effort that is undertaken on a client's ...

MLC refunds $67m in advice fees

KARREN VERGARA  |  FRIDAY, 27 JUL 2018
... charged in any MLC products. The plan service fee was introduced in 2012 in an effort to help MKPS members access general advice regarding their superannuation, MLC Super chief executive Matthew Lawrance said. The move is off the back of corporate regulator ...

Sequoia sells direct equities business

ALEX BURKE  |  FRIDAY, 22 JUN 2018
... prior to the sale, will be retained and transferred to another Sequoia-controlled entity. Sequoia Direct provides general advice on portfolio management, SMSFs, direct equities trading, structured products and insurance, and also provides a suite of ...

AFA criticises draft FASEA standard

KARREN VERGARA  |  FRIDAY, 8 JUN 2018
... understanding the client's personal circumstances, and distinguish between personal advice and product recommendations from general advice and product dealings. Additionally, it's important for FASEA to note that advisers operate as part of a larger ...

Life insurance regulation needs government backing: Poll

KARREN VERGARA  |  WEDNESDAY, 2 MAY 2018
... reputation risk (54%); unconscionable or misleading conduct in telephone sales (31%); and breaching the boundaries of general advice (15%). Participants also expressed support for the industry to take a bigger role in early intervention. Almost three-quarters ...