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Showing 211 - 220 of 393 results for "Personal advice"

Non-compliant personal advice rife at super funds: ASIC

JAMIE WILLIAMSON  |  TUESDAY, 3 DEC 2019
... of financial advice provided by super funds were found to be compliant with best interests duty. Reviewing the personal advice provided by 21 super funds, ASIC's Report 639: Financial advice by superannuation funds shows less than half of the files ...

Calls for clarity on personal advice in DDO

KANIKA SOOD  |  MONDAY, 11 NOV 2019
The definition of personal advice and the treatment of platform operators in the design and distribution obligations legislation must be clarified, the Financial Services Council has argued in its submission. When financial advisers use a platform to ...

Former Apogee, GPS Wealth advisers banned

JAMIE WILLIAMSON  |  THURSDAY, 7 NOV 2019
... understand their clients' personal circumstances and take those circumstances into consideration when providing personal advice." "When recommending that clients switch from an existing life insurance product, advisers must fully consider the risks of ...

Trustee firm, super fund in hot water

JAMIE WILLIAMSON  |  WEDNESDAY, 6 NOV 2019
... fee savings and equivalent insurance cover if consumers joined the fund. In doing so, ASIC said Mobi provided personal advice that was not in consumers' best interests. For these reasons, ASIC is pursuing civil penalties against Tidswell and ZIB ...

ASIC wins appeal against Westpac companies

KANIKA SOOD  |  MONDAY, 28 OCT 2019
... for marketing or general advice." The court determined that when Westpac attempted to move funds to BT it gave personal advice because, when considered as a whole and in context, there was an implied recommendation in each call and the intention was ...

Morgans snaps up CommSec Advisory business

ELIZA BAVIN  |  TUESDAY, 24 SEP 2019
... businesses following revelations from the Royal Commission. Westpac announced earlier this year it was departing the personal advice sector with two top executives leaving the business, while NAB and MLC are preparing to part ways by the end of the 2020 ...

AFCA ombudsman addresses adviser concerns

KRISTI CHENG  |  TUESDAY, 10 SEP 2019
... given in 2009 will be assessed against the legal obligations 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." ...

Down but not out: Top advisers adapt

ELIZABETH MCARTHUR  |  MONDAY, 26 AUG 2019
... the movement is attributable to large institutions culling or downsizing their wealth operations. After exiting personal advice, Westpac lost 338 advisers since February - the most of any licensee. Securitor shed 146 advisers over the same period, bringing ...

Value but no trust in advice: Report

ELIZABETH MCARTHUR  |  MONDAY, 26 AUG 2019
... planning (37%). The research focused on the overall use of financial advisers, motivators and barriers to seeking personal advice as well as consumer attitudes towards the advice industry.

ASIC bans adviser again

HARRISON WORLEY  |  FRIDAY, 16 AUG 2019
... February 2013. ASIC said advisers had a legal obligation to act in the best interests of their clients when providing personal advice. "Advisers must take reasonable steps to understand and take into consideration the clients' personal circumstances ...