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Showing 1 - 10 of 108 results for "Future of Financial Advice Reforms"

FSC explores if adviser licensing framework remains 'fit for purpose'

MATTHEW WAI | MONDAY, 28 JUL 2025

... seeking financial advice." However, in light of the industry's evolution, including the Future of Financial Advice Reforms (2012), new education standards (2017) and Hayne Royal Commission (2017-2019), the FSC believes it is timely to assess whether ...

CFS settles super fees class action

JAMIE WILLIAMSON | FRIDAY, 14 JUL 2023

... despite the charging of commissions on new superannuation accounts being banned in 2013 under the Future of Financial Advice reforms. The action, which has been ongoing since October 2019, said CFS had the power at the time to reduce the fees or transfer ...

BT to wind up Retirement Wrap

JAMIE WILLIAMSON | FRIDAY, 24 MAR 2023

... through to 2020. The issue was the premiums included commissions which were banned under the Future of Financial Advice reforms in 2013. BT Funds Management was fined $20 million by the court.

Suncorp agrees to super class action settlement

JAMIE WILLIAMSON | TUESDAY, 26 JUL 2022

... commissions to advice licensees that would otherwise have been unlawful or unenforceable under the Future of Financial Advice reforms which came into effect 1 July 2013. The plaintiff, Kerry Michael Quirk, and each of the group members were said to have ...

BT Funds Management fined $20m

JAMIE WILLIAMSON | FRIDAY, 8 APR 2022

... Asgard Independence Plan Division Two through to 2020, despite them having been banned under the Future of Financial Advice reforms in 2013. Further, members were also changed commissions via their premiums that went to financial advisers, event where ...

ASIC files numerous cases against Westpac

JAMIE WILLIAMSON | TUESDAY, 30 NOV 2021

... alleges BT Funds Management charged super members premiums that included commissions, despite the Future of Financial Advice reforms outlawing commissions. It is said BT Funds Management made representations that the insurance fees were deducted properly ...

Demand for niche advice firms increases

KARREN VERGARA | TUESDAY, 16 NOV 2021

... $120,000, while those with forex capability are rare and generate a premium. After the 2012 Future of Financial Advice reforms and the Hayne Royal Commission report was released in Feb 2019, many buyers now want to buy only financial planning clients ...

Give the people advisers: Retirement Income Review

ELIZABETH MCARTHUR | FRIDAY, 20 NOV 2020

... requirements associated with the best interests duty, but the quality of advice had improved after the Future of Financial Advice reforms. However, ASIC found only 10% of files showed that consumers would be significantly worse off as a result of following ...

AMP approved product list under fire

ELIZABETH MCARTHUR | WEDNESDAY, 1 JUL 2020

... understands there were fee arrangements between AMP's platform and product providers prior to the Future of Financial Advice reforms and some of these arrangements still exist as grandfathered fees. These will be turned off by 1 January 2021. Questioning ...

AMP defends hefty remuneration bill

ELIZABETH MCARTHUR | FRIDAY, 8 MAY 2020

... Murray said. Explaining the poor performance of the wealth management business, Murray said the Future of Financial Advice Reforms and the Royal Commission had caused the public to doubt the business' commitment to customers. De Ferrari was at one ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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