Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1681 - 1690 of 4173 results for amp

ASIC hits former NAB adviser with permanent ban

ALEX BURKE  |  WEDNESDAY, 18 APR 2018
... maintained he was a representative of GWM after June 2013, even though he was not. Separately, ASIC also noted that a former AMP-aligned adviser, Trevor Martin, was charged with 21 counts of dishonestly obtaining client funds. He was also charged with ...

Outgoing CEO name removed from critical AMP report draft

ALEX BURKE  |  TUESDAY, 17 APR 2018
The Royal Commission revealed today that AMP's law firm, Clayton Utz, removed outgoing chief executive Craig Meller's name from a draft of a critical report about the business. Senior Counsel Assisting Michael Hodge referred to the Clayon Utz report ...

Westpac paid out $200m annually in conflicted remuneration

DARREN SNYDER  |  TUESDAY, 17 APR 2018
... arrangement, approximately $64,745 in percentage-based adviser fees paid to dealer groups, $61,000 in volume-based payments made to AMP, $23,000 in adviser commissions deducted from customer accounts, $27,895 in commissions that were paid in relation ...

No view on ending adviser commissions: AMP

ALEX BURKE  |  TUESDAY, 17 APR 2018
AMP advice head Anthony Regan told the Royal Commission that he has yet to "turn his mind" to the idea of mandating a cessation of the commission-based adviser remuneration model, despite personal reservations. Senior Counsel Assisting Michael Hodge ...

RC findings bring shame on advice industry: social media

ALEX BURKE  |  TUESDAY, 17 APR 2018
... findings revealed in today's inquiry have brought shame on the financial advice industry. Today's inquiry focused largely on AMP and the 90-day exception rule which enabled the group to charge fees for clients who weren't receiving advice at the time. ...

Advice not yet a real profession: Kell

ALEX BURKE  |  TUESDAY, 17 APR 2018
... the systems that ensured that the client received the advice." Kell said this wasn't just limited to the big four banks and AMP - he also cited Yellow Brick Road, First State Super and Bendigo and Adelaide Bank as examples.

AMP deliberately misled ASIC over ongoing fees

ALEX BURKE  |  TUESDAY, 17 APR 2018
Once again in the Royal Commission hot-seat, AMP advice head Anthony Regan conceded evidence suggests the business deliberately misled ASIC over ongoing fees-for-no-service policies on multiple occasions. Senior Counsel Assisting Michael Hodge singled ...

Banks put revenue above quality advice: FSU

ALEX BURKE  |  MONDAY, 16 APR 2018
... refunding millions in fees for no service ANZ issues last minute RC submission correction Royal Commission must cast net wider AMP admits to serious misconduct in RC submissions

Social media singles out ASIC in Royal Commission coverage

ALEX BURKE  |  MONDAY, 16 APR 2018
... #BankingRC that some financial advisers charge up to $2000 in fees for no service, but they've also shown that the #big4 (+ AMP) paid 305 946 people #compensation for advice leading to no service or financial loss #ChangeTheRules - Carol Brown (@SenCarolBrown) ...

NAB details serious compliance concerns in RC advice submission

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... wrongfully charged plan service fees. Follow Financial Standard for ongoing coverage of the financial services Royal Commission: AMP's buyer of last resort measures scrutinised AMP executive apologises for advice failings Commonwealth Bank refunding ...