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Showing 21 - 30 of 43 results for "BOLR"

AMP advisers low priority for ASIC

ELIZABETH MCARTHUR | WEDNESDAY, 15 JUL 2020

Senator Deborah O'Neil has revealed she was told by ASIC that AMP's Buyer of Last Resort (BOLR) agreements being altered and subsequently slashing the value of advice businesses was not a priority for the regulator. In a letter to the chair of the Parliamentary ...

Calls to investigate treatment of AMP advisers

ELIZABETH MCARTHUR | FRIDAY, 26 JUN 2020

... from a Senator to look into AMP's treatment of financial advisers, including reducing the value of its Buyer of Last Resort (BOLR) agreements. Labor senator for NSW Deborah O'Neill has written to ASIC chair James Shipton, urging him to investigate the ...

AMP defends hefty remuneration bill

ELIZABETH MCARTHUR | FRIDAY, 8 MAY 2020

... Last Resort agreements De Ferrari chose not to get too specific. He confirmed about 260 practices are seeking to enact their BOLR agreement but did not say at what level those BOLR agreements would be honoured. "We are setting funds aside to meet our ...

What you read in 2019: Financial advice

JAMIE WILLIAMSON | THURSDAY, 19 DEC 2019

... claims In early August AMP announced its plans to reshape its advice offering, including the highly contentious changes to BOLR terms (more detail below). Shortly after, the then-head of AMP's advice business, Alex Wade told Financial Standard AMP ...

AMP extends adviser deadline

JAMIE WILLIAMSON | WEDNESDAY, 30 OCT 2019

... Following on from AMP's decision earlier this year to restructure its advice business and slash Buyer of Last Resort (BOLR) multiples, financial advisers who were given their notice by the institution have been given an additional month to consider ...

Senior lawyer drags AMP to court

KANIKA SOOD | THURSDAY, 24 OCT 2019

... Cook says that by November, 2016 she had become aware that AMP Group companies had charged fees to orphan customers in its BOLR pool fees without providing services to them. She also claims that as of that date, she was aware that companies in the AMP ...

ASIC using intimidation tactics on grandfathering: AIOFP

ELIZABETH MCARTHUR | WEDNESDAY, 16 OCT 2019

... High Court action could assist the AMPFPA in its legal challenge, due to the impact the end of grandfathering will have on BOLR valuations particularly since AMP's policy changed in August. "BOLR changes are all based on grandfathered commissions ...

AMPFPA selects law firm

JAMIE WILLIAMSON | TUESDAY, 15 OCT 2019

... battle with AMP Financial Planning over its decision to change its Master Terms in regards to business valuations under the BOLR policy without notice or consultation. Speaking to Financial Standard shortly after the announcement, AMP's then-group ...

AMP advisers prepare for battle

JAMIE WILLIAMSON | FRIDAY, 13 SEP 2019

... added that as recently as May 2018 the then-managing director of AMP Financial Planning had met with practices to assure them BOLR terms would be unchanged, leading those businesses to remain with the licensee. The association has prepared an issues ...

Government should intervene in BOLR changes: Opposition

JAMIE WILLIAMSON | FRIDAY, 23 AUG 2019

The NSW shadow minister for finance and small business has asked what the state government is doing for advisers facing financial ruin as a result of AMP's plan to change Buyer of Last Resort terms. Speaking in NSW parliament earlier this week ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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