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Showing 2191 - 2200 of 5920 results for "March 27"

ANZ, NAB bottom lines take a hit

KARREN VERGARA  |  TUESDAY, 24 APR 2018
ANZ and NAB painted a bleak profitability outlook for shareholders, flagging massive losses ahead of their 2018 half-year reporting period in early May. ANZ will incur a loss of $632 million from the sale of its life insurance, and pensions and investments ...

AMP kept unsuspecting clients in the dark: RC

KARREN VERGARA  |  TUESDAY, 24 APR 2018
The financial services Royal Commission censored the names of two AMP financial planning clients who currently don't know they are the victims of improper advice provided by an authorised representative. AMP knew as early as March 2017 the husband and ...

Westpac obscured bad adviser reference check

KARREN VERGARA  |  FRIDAY, 20 APR 2018
The Royal Commission found Westpac downplayed the gravity of former financial adviser Andrew Smith's misconduct not only to the regulator but with another licensee he was joining. Smith commenced as a financial adviser with Westpac subsidiary St George ...

Powerwrap gears up for IPO

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
Powerwrap has confirmed it recently completed a pre-IPO capital raise to the tune of $7.5 million. Speaking to Financial Standard, Powerwrap chief executive Will Davidson said the platform sought the backing of existing institutional investors to raise ...

Chief economist update: Australian workers, don't expect a pay rise

BENJAMIN ONG  |  FRIDAY, 20 APR 2018
... expectations. The Australian Bureau of Statistics' (ABS) update shows that while the unemployment rate remained at 5.5% in March - in line with expectations and unchanged from the January and February - total monthly employment growth increased by just ...

Royal Commission case study: advice put retirement in ruins

JAMIE WILLIAMSON  |  THURSDAY, 19 APR 2018
... we had paid for the advice, it wasn't going to put us back in a home," McDowall said. A subsequent offer of $50,988 in March - expressed by Westpac as its final offer - was declined on the same grounds. A complaint was then made to the Financial Ombudsman ...

Chief economist update: The colour of Beige

BENJAMIN ONG  |  THURSDAY, 19 APR 2018
Speculators speculating on the US Federal Reserve's next monetary policy movement should pay close attention to the Beige Book Report. The "book" isn't made up of figures and numbers and stats but instead anecdotal evidence on the state of the US economy. ...

AI comes to SMSF administration

HARRISON WORLEY  |  WEDNESDAY, 18 APR 2018
An artificial intelligence assistant has been integrated into the SMSF software solution used to administer more than 70% of the 600,000 self-managed super funds in Australia. In a reported first for SMSF administration software, BGL has integrated ...

Former Suncorp adviser banned

HARRISON WORLEY  |  WEDNESDAY, 18 APR 2018
A former Suncorp Financial Services financial adviser has copped a four-year ASIC ban after the regulator found the adviser failed to act in the best interests of his clients. The adviser in question, Gerald Grubwinkler from Queensland, failed to adequately ...

MLC, Colonial First State make key appointments

JAMIE WILLIAMSON  |  WEDNESDAY, 18 APR 2018
The acting general manager of product at Colonial First State will join MLC to lead its wealth products and platforms division. CFS and MLC have confirmed that Sam Wall will join MLC in May as general manager, wealth products and platforms. Wall succeeds ...