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ROYAL COMMISSION: Top stories

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
Missed something? Here's a recap of the most read stories to come out of the first week of the Royal Commission's inquiry into financial advice. AMP admits to serious misconduct in RC submissions AMP acknowledged hundreds of instances of misconduct ...

MFS executives create advisory council

KANIKA SOOD  |  THURSDAY, 19 APR 2018
MFS Investment Management has pooled five of its top executives and a retired portfolio manager to form an advisory council that will consult and collaborate with the firm's investment team. The MFS Investment Advisory Council (IAC) will counsel current ...

WA Super awards admin mandate

KARREN VERGARA  |  THURSDAY, 19 APR 2018
... their own retirement fund, he added. Ross succeeded John McNally in February 2017, who decided to retire after 11 years in the top job.

RECAP: Advice in the Royal Commission spotlight (Days 1 - 3)

KANIKA SOOD  |  THURSDAY, 19 APR 2018
After three days of the financial services Royal Commission tackling financial advice, Financial Standard summarises the top stories and key points you need to know. Australia's top financial institutions are lining up before Commissioner Kenneth Hayne ...

New manager raising $30m for crypto fund

ALEX BURKE  |  WEDNESDAY, 18 APR 2018
... 2017, you'd have made earned $1.3 million by December 31. But if you divided that by 10 and invested $10,000 each into the top-10-performing cryptocurrencies, you would have made $13.7 million." Figures like these are why Nguyen thinks many investors ...

Westpac paid out $200m annually in conflicted remuneration

DARREN SNYDER  |  TUESDAY, 17 APR 2018
... from product providers that are permitted or banned. Only permitted payments are passed onto financial advisers. However, on top of the annual $200 million in permitted conflicted remuneration, Wright explained Westpac has provided or Westpac advisers ...

Yarra Capital executive joins AUI board

KANIKA SOOD  |  TUESDAY, 17 APR 2018
A top executive from Yarra Capital Management has joined the board of a $1.2 billion listed investment company. Dion Hershan is currently Yarra Capital Management's managing director and head of Australian equities. He joins the board of Melbourne-based ...

ASIC lifts licence conditions on CountPlus subsidiary

KANIKA SOOD  |  MONDAY, 16 APR 2018
... advisers, overseen by the regulator, have undertaken a forensic examination of our business, its procedures and policies. The top-to-bottom re-build has not only satisfied the corporate regulator, but we believe sets up TFS for an immediate return to ...

Alternative finance the option for millennials

DARREN SNYDER  |  MONDAY, 16 APR 2018
Financial advisers managing millennial money must plan for larger exposure to alternative finance options as the generation tops Australia's user list of online lending products. Speaking at the AltFi Australasia Summit in Sydney today, OnDeck chief ...

Financial services data breaches recorded

HARRISON WORLEY  |  FRIDAY, 13 APR 2018
... of the Australian Information Commissioner in the first quarter of 2018. The OAIC Quarterly Statistics report outlined the top five industry sectors that reported breaches in the quarter. Finance (including superannuation) sits at third on the list ...