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Showing 11 - 20 of 84 results for "Fee disclosure statement"

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
The Quality of Advice Review's recommendation to abolish Fee Disclosure Statements would be a major win for financial advisers as many continue to grapple with providing accurate documents to clients. The Financial Advice Association Australia general ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
The Quality of Advice Review's final report (QAR) does not "trash" or go against the Future of Financial Advice (FoFA) reforms, says Association of Financial Advisers (AFA) chief executive Philip Anderson. Labeling QAR "the most important review of ...

Focus on providing 'good advice': QAR draft proposals

JAMIE WILLIAMSON, CASSANDRA BALDINI  |  MONDAY, 29 AUG 2022
A focus on providing 'good advice', the scrapping of general advice, and allowing superannuation funds to provide personal financial advice are just some of the proposed reforms contained in the Quality of Advice Review's consultation paper. ...

ASIC takes Mercer Financial Advice to court

JAMIE WILLIAMSON  |  THURSDAY, 30 JUN 2022
Mercer Financial Advice is being sued by ASIC over fee for no service conduct that continued after the Royal Commission and impacted members of both a corporate and government super fund. The regulator alleges that between July 2016 and June 2019 Mercer ...

NAB partners with life insurance, advice provider

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
The big four bank announced its partnership with Australia's largest medical defence organisation to extend its business finance solutions to doctors and healthcare professionals. NAB's Medfin Finance team signed a 10-year strategic partnership agreement ...

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
The big four bank has been ordered by the Federal Court to pay $18.5 million for misleading fee disclosure statements in relation to personal financial advice, in what is the first penalty imposed by the court for such failures. The court found NAB ...

AFA slams new SOA measures

KARREN VERGARA  |  WEDNESDAY, 7 JUL 2021
... by the regulators," Anderson said. From July 1, new laws mandated all ongoing fee clients to receive a Fee Disclosure Statement each year, that sets out the services provided, fees paid over the last year, as well as the services to be provided over ...

ASIC takes on NAB for fee-for-no service breaches

KARREN VERGARA  |  FRIDAY, 18 JUN 2021
... that our clients were entitled to expect that they would be given on every occasion timely and accurate fee disclosure statement in accordance with our obligations at law," the bank's lawyers said. "We and the bank deeply regret that the contraventions ...

ASIC releases ongoing fee obligations guidance

KARREN VERGARA  |  WEDNESDAY, 16 JUN 2021
... obligations will take effect. These are new obligations that must be carried out on top of providing clients a fee disclosure statement (FDS), which has been in place since 1 July 2012. The information sheet covers three areas: ongoing fee arrangements ...

Advisers win annual renew law relief

KARREN VERGARA  |  FRIDAY, 11 JUN 2021
The federal government will introduce a carve out to help financial advisers to meet their ongoing fee disclosure obligations. Senator Jane Hume announced this evening that advisers will have 60 days to provide clients an estimate of fees they will ...