Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 261 - 270 of 393 results for "Personal advice"

Dover roasted for 'Orwellian' protection policy

JAMIE WILLIAMSON  |  FRIDAY, 27 APR 2018
... adequately research a recommended financial product; failure to consider a client's circumstances; failure to provider personal advice as defined by the Act; recommendation of a service that a reasonable adviser would not recommend; and failure to advise ...

Westpac obscured bad adviser reference check

KARREN VERGARA  |  FRIDAY, 20 APR 2018
... conducting himself like a financial adviser but was "acting like a stockbroker." Orr asked if Smith was providing personal advice, he should have done so with a statement of advice rather than "dressing it up as execution only instructions?" "Yes. Absolutely," ...

Royal Commission must cast net wider

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... largest financial asset. Any advice that makes such a massive difference to a person's ultimate retirement should be personal advice and should not be conducted by way of a generic phone conversation," he says. This said, retail and industry superannuation ...

ASIC hits former Westpac, NAB, YBR adviser with permanent ban

ALEX BURKE  |  MONDAY, 5 MAR 2018
... claiming to provide only general advice to retail clients while selling financial products but are actually providing personal advice will also be further scrutinized.

ASIC to target non-compliant advisers and AFSLs

JAMIE WILLIAMSON  |  THURSDAY, 1 MAR 2018
... claiming to provide only general advice to retail clients while selling financial products but are actually providing personal advice will also be further scrutinised. "This report highlights our ongoing commitment to ensuring that Australians can have ...

Vertically aligned institutions pay $21.4m compensation

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2018
... banks refunded customers $215.9 million for charging ongoing advice fees that failed to provide actual general or personal advice under its fees-for-no-service review. NAB additionally paid $11.6 million to customers as part of its own review and remediation ...

General advice "misleading": Productivity Commission

JAMIE WILLIAMSON  |  WEDNESDAY, 7 FEB 2018
... Consumers are unable to clearly distinguish between the general promotional effort related to products and actual personal advice, the draft report reads. The Commission labelled general advice "misleading" and called for consumer testing of alternative ...

ClearView issues refunds over life sales misconduct

JAMIE WILLIAMSON  |  TUESDAY, 6 FEB 2018
... independent assurance over the remediation program and will no longer sell life insurance directly to consumers without personal advice. "Purchasing life insurance is a key financial decision for consumers, and all the information provided to them must ...

ASIC takes further action against MyPlanner

JAMIE WILLIAMSON  |  WEDNESDAY, 20 DEC 2017
... external parties and the remuneration agreements in place. Fraser also failed to provide a statement of advice when personal advice was provided. At the time of the misconduct, Fraser was an authorised representative of MyPlanner and recently switched ...

NAB refunds home loan customers

KARREN VERGARA  |  TUESDAY, 19 DEC 2017
... institutions that paid a huge compensation bill for charging ongoing advice fees, but failed to provide actual general or personal advice. AMP and the big four banks collectively refunded $215.9 million to customers; NAB is due to pay a further $1.3 ...