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Showing 301 - 310 of 1235 results for "licensees"

3000 advisers left industry last year

ELIZABETH MCARTHUR  |  WEDNESDAY, 13 APR 2022
... to end March 2022 to reach 17,602. This implies 3075 advisers exited the industry in the period. There are now 2090 licensees operating, 79 less than the same time in 2021. The number of financial advisers is now back to where it was over seven years ...

ASIC issues warning to finfluencers

JAMIE WILLIAMSON  |  MONDAY, 21 MAR 2022
The corporate regulator has issued information for social media influencers who discuss financial products and the licensees who use them, warning they face substantial penalties if their content contravenes financial services law. The information sheet ...

Managed accounts FUM at $131bn

CHLOE WALKER  |  TUESDAY, 15 MAR 2022
... billion. Participants in the census ranged from the large platforms, banks, and MDA Providers through to individual licensees. IMAP chair Toby Potter said that the growth rate in managed accounts is almost approaching 40% per year. "This growth is up ...

Funds need retirement income strategy by July

ELIZABETH MCARTHUR  |  TUESDAY, 8 MAR 2022
... beneficiaries during the accumulation phase about potential income in retirement. "APRA and ASIC acknowledge that many RSE licensees will have a strong understanding of their members' needs already and may have already operated in the retirement income ...

NAB tops bad advice compensation bill

KARREN VERGARA  |  TUESDAY, 15 FEB 2022
... advice emanating from AMP Financial Planning, Charter Financial Planning, Hillross Financial Services and 14 other advice licensees reached $621.4 million and is due to complete compensations by end of the first quarter of 2022. Commonwealth Bank's ...

RI Advice slapped with $6m penalty

KARREN VERGARA  |  FRIDAY, 4 FEB 2022
... "'The $6 million penalty handed down by the Court against RI Advice sends a strong message to financial services licensees to properly monitor the advice given by their advisers to make sure consumers are protected." Justice Moshinsky determined ...

Synchron appoints compliance lead

ELIZABETH MCARTHUR  |  FRIDAY, 4 FEB 2022
... Certified Financial Planner (CFP) designation and has been a director and responsible manager for several financial services licensees.

APRA to continue scrutiny of trustees

JAMIE WILLIAMSON  |  WEDNESDAY, 2 FEB 2022
... unacceptable product performance. Released yesterday, APRA said it will continue to exercise its powers to ensure RSE licensees are doing right by members. Throughout the year, APRA's supervisors will target trustees identified in 2021 as having sub-standard ...

Insignia loses self-employed advisers

KARREN VERGARA  |  THURSDAY, 27 JAN 2022
... not to pursue. "The revised fee model removes historic subsidisation of fees and supports our target for ANZ aligned licensees to break-even on a run-rate basis by 30 June 2022. The reduction in advisers for the quarter is consistent with Insignia Financial's ...

Advice industry loses 800 over New Year period

KARREN VERGARA  |  FRIDAY, 21 JAN 2022
... continue to leave the profession, one interesting trend Rainmaker found is the rapid rate in which advisers moved between licensees. In 2021, nearly 13% switched to a new AFSL. Another finding was the shift towards the non-aligned sector, which is growing ...