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Showing 2191 - 2200 of 5924 results for "March 4"

Chief economist update: Prudence, patience and persistence

BENJAMIN ONG  |  FRIDAY, 27 APR 2018
The European Central Bank's (ECB) 26 April Governing Council meeting produced unchanged monetary policy settings yet again, marking the 26th month of inaction. The eurozone's interest rates haven't changed - repo rate at 0.0%; deposit facility at -0.40% ...

Royal Commission grills professional associations

KARREN VERGARA  |  THURSDAY, 26 APR 2018
The Royal Commission scrutinised the shortcomings of professional associations' ability to protect clients against inappropriate financial advice and the lack of urgency in resolving complaints. The Commission recommenced with Financial Planning Association ...

Chief economist update: Inflation remains in the slow lane

BENJAMIN ONG  |  THURSDAY, 26 APR 2018
The financial markets' response to the Australian Bureau of Statistics' Consumer Price Index report was a big "HO-HUM." With the report released a day before ANZAC Day, the response could have been because market players' thoughts were on something ...

IOOF updates market on ANZ wealth sale

KARREN VERGARA  |  TUESDAY, 24 APR 2018
IOOF gave shareholders an update on its ANZ Wealth acquisition in light of the banking Royal Commission. ANZ announced in September 2017 it will divest OnePath's pension and investments and four aligned dealer groups to IOOF for $975 million. IOOF's ...

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 ...