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Showing 241 - 250 of 405 results for "Personal advice"

Banks push to leave vertical integration on the table

HARRISON WORLEY  |  WEDNESDAY, 10 APR 2019
... Westpac - which until then was the only big four bank still wholly committed to wealth management - decided to exit personal advice, bringing BT Financial Group in-house and selling a number of financial advisers to Viridian Advisory. "ABA members have ...

Superannuation Consumer Advocate proposal needs work

KARREN VERGARA  |  THURSDAY, 4 APR 2019
... after ASIC found branch staff sold superannuation products to customers under the guise of general advice and not personal advice. Frydenberg also allocated to the Superannuation Complaints Tribunal (SCT) $2.3 million over three years from 2020-21 to ...

Consumers confused by general, personal advice

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... protection exists." "The survey not only revealed consumers are not familiar with the concepts of general and personal advice, but only 53% of those surveyed correctly identified 'general' advice. "And even when provided the general advice warning, nearly ...

ClearView defends risk advice commissions

KARREN VERGARA  |  TUESDAY, 26 MAR 2019
... tax deductible against income-producing assets. This tax incentive should be expanded to fees such as ongoing personal advice and preparing a financial plan or Statement of Advice, it proposed. ClearView shares last traded at 85.5 cents at publication ...

Remediation to hit Westpac earnings

HARRISON WORLEY  |  MONDAY, 25 MAR 2019
... jettison its financial advice business, with Viridian Advisory set to take on a number of its advisers. By exiting personal advice, Westpac said it would unlock value, given advice had become a high cost, loss-making business.

Westpac exits personal advice, restructures leadership

JAMIE WILLIAMSON  |  TUESDAY, 19 MAR 2019
... its decision to divest or sell-down its asset management businesses," Hartzer said. On exiting the provision of personal advice, Hartzer said the decision reflects the current environment, including the ongoing shift to self-licensing. As part of the ...

Super funds eye intra-fund advice shake-up

KARREN VERGARA  |  FRIDAY, 15 MAR 2019
... advisers not to go down the general advice path, he said, pointing out that many members will not seek or pay for personal advice. Bowtell said the discussion is still in its infancy and it has been somewhat challenging to agree on what those changes ...

ASIC appeals Westpac Federal Court decision

JAMIE WILLIAMSON  |  MONDAY, 18 FEB 2019
... filed an appeal of the decision, seeking greater clarity and certainty as to the difference between general and personal advice for consumers and financial services providers. "The dividing line between personal and general advice is one of the most ...

Former Macquarie advisers have bans reduced

JAMIE WILLIAMSON  |  TUESDAY, 12 FEB 2019
... deceive Macquarie's compliance team into believing general advice or execution only instructions had been given, not personal advice. They then arranged for the same false emails to be saved into Xplan and created false order management system transaction ...

Managed accounts not immune to Royal Commission

KARREN VERGARA  |  TUESDAY, 22 JAN 2019
... separation of product and advice will occur. It could happen in the for-profit sector it would mean offering limited personal advice, so that public offer superannuation funds, managed investment schemes and advisers associated with them would be able ...