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Showing 161 - 170 of 334 results for %22Best Interest Obligation%22

AFCA ombudsman addresses adviser concerns

KRISTI CHENG  |  TUESDAY, 10 SEP 2019
... in force at the time, including the obligation for personal advice to have a reasonable basis, rather than the "best interest duty" which applies to personal advice given since July 2013." Adviser obligations prior to 1 July 2013 are those that fall ...

Northern Trust embroiled in YouTube fundie saga

ELIZABETH MCARTHUR  |  MONDAY, 9 SEP 2019
... team the required time to execute the changes to the portfolio that we have outlined previously, in order to deliver the best possible outcomes for you, our investors."

BT faces fees for no service class action

ELIZABETH MCARTHUR  |  FRIDAY, 6 SEP 2019
... members' money for itself. "Superannuation members trusted BT with their retirement savings, but instead of seeking the best returns available for members, it appears BT chose to line the pockets of another entity in the Westpac group at the expense ...

Government should intervene in BOLR changes: Opposition

JAMIE WILLIAMSON  |  FRIDAY, 23 AUG 2019
... Fundamentally, corporate organisations should provide to their customers a balanced approach to ensure that they were acting in the best interests of the customer." Despite Tudehope's inability to provide an informed response, Mookhey's questioning ...

AMP advice lead rejects AMPFPA claims

JAMIE WILLIAMSON  |  MONDAY, 19 AUG 2019
... announcement of the business' new direction, Wade said AMP has been meeting with individual practices to determine the best course of action for them and reinforce the support available to them. The feedback received in relation to the new strategy ...

ASIC bans adviser again

HARRISON WORLEY  |  FRIDAY, 16 AUG 2019
... Aujla has been banned from providing financial services for three years by the corporate regulator for failing to act in the best interests of his clients. According to ASIC, a review of advice Aujla provided as an authorised representative of Infocus ...

ASIC warns trustees on employer inducements

KARREN VERGARA  |  THURSDAY, 1 AUG 2019
... breach - which is to be enforceable by ASIC. Press pointed out that while employers are not required to consider employees' best interests when deciding on a default super fund, their decisions can significantly impact their retirement income and potentially ...

Sam Henderson cops ASIC ban

KANIKA SOOD, JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
... nine times. ASIC found Henderson's clients either lost or were at risk of losing money as he had failed to act in their best interests, to provide appropriate advice and to prioritise their interests when providing personal financial advice. He also ...

Advice associations weigh in on member interests bill

HARRISON WORLEY  |  FRIDAY, 19 JUL 2019
... proposal, which will ultimately remove the insurance for a lot of members in an indiscriminate manner, is necessarily in the best interests of members," Anderson said. "The key problem with this legislation is that whilst it will remove a lot of insurance ...

MLC faces class action over adviser fees

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 JUL 2019
... charged to MLC Super members likely exceed $100 million. Superannuation trustees have an obligation to act in the best interest of their members. In charging fees to members in order to pay these adviser commissions, the class action will allege that ...