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Showing 271 - 280 of 405 results for "Personal advice"

Super industry critiques PC draft report

KARREN VERGARA AND STEPHEN FAY  |  WEDNESDAY, 20 JUN 2018
... to deal with finances, such as cognitive decline. While this type of advice might fall into the general versus personal advice grey area, Cooper said it's not insurmountable if new legislation stepped in. However, he pointed out that advisers are ...

AFA criticises draft FASEA standard

KARREN VERGARA  |  FRIDAY, 8 JUN 2018
... emphasise the importance of genuinely understanding the client's personal circumstances, and distinguish between personal advice and product recommendations from general advice and product dealings. Additionally, it's important for FASEA to note that ...

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 ...