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Showing 191 - 200 of 3545 results for "Accounts"

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... serious, wrongful behaviour", noting "the deceased members affected were vulnerable, obviously unable to monitor their accounts and were entirely reliant on the representatives of their estates." ASIC deputy chair Sarah Court said: "The AMP companies ...

Super fund blunder likely down to bad data: Podcast

CASSANDRA BALDINI  |  THURSDAY, 18 MAY 2023
... the root cause lays in data entry. The recent case of AustralianSuper refunding 100,000 members it had held multiple accounts for had many questioning how such a significant error could occur given existing legislative requirements related to intra-fund ...

Super funds must prioritise member experience: Consultant

ANDREW MCKEAN  |  WEDNESDAY, 17 MAY 2023
... notes some superannuation funds are adopting robotic process automation tools. These tools assist in monitoring super accounts, accessing research reports, and helping members make better financial transactions. "Superannuation funds that plan to leverage ...

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
... Instead, she wrote, advisers should provide a single annual consent form to authorise fees deducted from clients' accounts. Overhauling the formidable ongoing fee consent arrangements and consent requirements would be a quick win for financial advisers ...

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... handling processes in the wake of AustralianSuper refunding $70 million to approximately 100,000 members who held multiple accounts with the fund. Last week, AustralianSuper, Australia's largest super fund, admitted to not following the rules concerning ...

AustralianSuper to refund 100k members

CHLOE WALKER  |  FRIDAY, 12 MAY 2023
... AustralianSuper will refund $70 million it overcharged 100,000 members after it failed to detect that they had multiple accounts. The country's largest superfund has self-reported itself to regulators after realising it overcharged current and former ...

Adviser PI premiums up 40%: APRA

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
... increase in risk counts. While increases differed across occupation groups and subgroups, the Financial category - which accounts for accountants, financial advisers and brokers/dealers - all saw an average premium increase of at least 40%. "For Financial ...

How this budget was built

ALEX DUNNIN  |  TUESDAY, 9 MAY 2023
... coking coal and rural outputs. Recall that while the commodities sector is just 22% of Australia's $2 trillion GDP, it accounts for almost 70% of national exports. As a result, the 9% increase in expected tax receipts for 2022-23 over 2021-22 and ...

Labor cracks down on unpaid super

ANDREW MCKEAN  |  TUESDAY, 9 MAY 2023
... additional tax on earnings imposed by this measure will impact around 80,000 people in 2025-26, or approximately 0.5% of super accounts. But, the non-indexation of the $3 million superannuation cap could eventually impact around 500,000 people, according ...

Mercer scoops up third BT business unit

KARREN VERGARA  |  MONDAY, 8 MAY 2023
... will finalise later this year. PPM, also know as BT Private Portfolio as per its website, offers individually managed accounts. It is distinct from BT's overall managed accounts business. "The addition of PPM allows us to service the entire investor ...

Editor's Choice

Australian Retirement Trust people chief to depart

ELIZABETH FRY
Australian Retirement Trust has confirmed the departure of chief people officer Helen Jackson, who will leave at the end of the financial year.

SSGA loses $2.4bn in two months

KARREN VERGARA
State Street Global Advisors (SSGA) suffered $2.4 billion in net outflows over the last two months of 2023, the majority of which hit its Australian and international equities products.

AFCA seeks industry feedback on approaches

ELIZA BAVIN
The financial complaints authority is asking the industry for feedback on how it approaches issues and reaches decisions.

Apex, ACA partner to broaden client services

ANDREW MCKEAN
Apex Group and ACA Group have formed a partnership to offer their clients a wider range of services.

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A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
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