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Showing 3741 - 3750 of 9281 results for "wealth"

Pendal profits plunge, advisers remain positive

KANIKA SOOD  |  THURSDAY, 2 MAY 2019
... was largely due to fee revenues: performance fees were down 91% while the base fees were down 4%. Australian advisers and wealth firms constitute $7.9 billion of the roughly $100 billion that Pendal has in funds under management. Group chief executive ...

AMP leaks $1.8bn, names new CFO

HARRISON WORLEY  |  THURSDAY, 2 MAY 2019
AMP's wealth management arm saw net outflows of $1.8 billion last quarter. Announced as part of its annual general meeting today, the embattled wealth manager revealed outflows from its Australian wealth business tipped $1.8 billion in the first ...

NAB, Nippon lock heads over MLC

KARREN VERGARA  |  THURSDAY, 2 MAY 2019
... NAB said, classifying the disputes as a "contingent liability." NAB has flagged on several occasions that divesting its wealth management arm will be delayed to FY20. NAB chief financial officer Gary Lennon commented in a media briefing that such disputes ...

ASIC suspends advice group AFSL

ELIZABETH MCARTHUR  |  THURSDAY, 2 MAY 2019
ASIC has suspended the Australian financial services licence of a Sydney-based financial advice group. Australasia Wealth Services and Management failed to obtain membership of the Australian Financial Complaints Authority (AFCA), therefore breaching ...

ANZ boosts remediation team

HARRISON WORLEY  |  WEDNESDAY, 1 MAY 2019
... lead the industry "with purpose" following the Royal Commission and a string of scandals that have harmed the banking and wealth sectors. In boosting its remediation team, ANZ said it was able to improve the speed in which customers were refunded, in ...

Westpac reveals Magnitude, Securitor adviser remediation

HARRISON WORLEY  |  WEDNESDAY, 1 MAY 2019
... initiative we are fixing issues and are determined to ensure that they don't reoccur." Early in March ASIC scolded the wealth sector over its approach to dealing with its potential advice remediation bill of $1.15 billion, noting in particular that ...

Super startup to relaunch

HARRISON WORLEY  |  TUESDAY, 30 APR 2019
... website, the fund is a sub-plan of Aracon Superannuation Fund, which was acquired by Managed Accounts Holdings - now Xplore Wealth - late last year. FairVine has partnered with Hannover Re to provide group life cover to members. Financial advice business ...

Swiss Re to manage Freedom remediation

KANIKA SOOD  |  TUESDAY, 30 APR 2019
... agreements. "In conjunction with the transfer of its administration business Freedom is considering alternatives to exit Spectrum Wealth Management. Subject to successfully exiting this business, Freedom will have exited all its operating businesses," ...

CountPlus acquires stake in advice firm

KARREN VERGARA  |  TUESDAY, 30 APR 2019
... 50% stake in Rundles Prime and a 10% stake in Rundles Financial Planning, which were subsidiaries of Prime Accounting & Wealth Management (PWM). It receives $2.695 million for the transaction. Prime Financial Group flagged last year that it will continue ...

ME Bank adds new chair, directors

ELIZABETH MCARTHUR  |  TUESDAY, 30 APR 2019
... the banking and financial services industries, having spent over 10 years at Commonwealth Bank as chief risk officer of wealth management. He has also previously served as chair for Suncorp Portfolio Services and as a non-executive director of the Australian ...