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Showing 21 - 30 of 119 results for "MasterKey"

Ten stories that defined the Royal Commission

HARRISON WORLEY  |  WEDNESDAY, 19 DEC 2018
... profit levels. It was revealed earlier that $67 million in general advice fees had been charged to members of MLC's MasterKey Personal Super products, despite the fact not all members were told clearly they could opt out of the service. Looking for stories ...

MLC admin error hits superannuation DB members

KARREN VERGARA  |  FRIDAY, 14 DEC 2018
... five of its super funds into one, creating the largest retail fund in the country. The MLC Super Fund comprises MLC MasterKey and Plum superannuation offerings, and at the time was worth $70 billion in funds under management. Plum is home to a number ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... provided. ASIC alleges NULIS and MLC Nominees - the current and former super trustee of NAB - misled members of MLC MasterKey Super products, with the regulator seeking declarations of contravention and a civil penalty. ASIC also claims NULIS and MLC ...

NULIS names new chair

KARREN VERGARA  |  TUESDAY, 7 AUG 2018
... Teachers Federation Health. Promnitz first joined the board responsible for the MLC Super Fund and products such as Plum, MasterKey Super, MasterKey and Wrap as a non-executive director in December 2017. He is also a member of the MasterKey and Plum ...

Lose grandfathered commissions, lose business: MLC

KARREN VERGARA AND JAMIE WILLIAMSON  |  MONDAY, 6 AUG 2018
... In July 2016, NAB merged five of its superannuation funds into one to create the MLC Super Fund, which included MLC MasterKey and Plum superannuation offerings. At the time, the merged fund had about $70 billion in funds under management. Prior to this ...

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... compensate affected members. On July 27, MLC announced it will cease deducting general financial advice fees from its MasterKey Personal Super products after admitting it did not clearly communicate to members they could opt out of the service and estimated ...

MLC refunds $67m in advice fees

KARREN VERGARA  |  FRIDAY, 27 JUL 2018
MLC will cease deducting general financial advice fees from its MasterKey Personal Super products after admitting it did not clearly communicate to members they could opt out of the service. About 305,000 MasterKey Personal Super (MKPS) members will ...

NAB to divest MLC

ALEX BURKE  |  THURSDAY, 3 MAY 2018
... enhance its competitive position." Based on Rainmaker data, the MLC Super Fund - which was created when NAB merged its MLC MasterKey and Plum superannuation offerings - is one of the largest retail super funds, with more than $78 billion in total assets ...

AMP kept unsuspecting clients in the dark: RC

KARREN VERGARA  |  TUESDAY, 24 APR 2018
... Britt told Senior Counsel Assisting Rowena Orr. Mr E advised the husband to rollover the balances of his TAL and MLC MasterKey superannuation accounts to AMP's MyNorth product to the tune of $125,000. He also cancelled the husband's life insurance policy ...

Australian Unity chair joins NAB

EMMA RAPAPORT  |  THURSDAY, 21 DEC 2017
... appointed as a non-executive director, joining the board responsible for the MLC Super Fund and products such as Plum, MasterKey Super, MasterKey and Wrap. He will also sit on the MasterKey and Plum Investment Committee and the Risk and Audit Committee. ...