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Showing 21 - 30 of 89 results for "Poor advice"

AFA hits back at QAR submissions from Choice, ISA

CASSANDRA BALDINI  |  MONDAY, 11 JUL 2022
... hit back, saying: "They are oblivious to the fact that it is actually saying that there was no correlation between poor advice and the use of either hybrid or level commission models." Meanwhile, the AFA said the Choice discussion on asset-based fees ...

AFA names Great Advice Awards winners

KARREN VERGARA  |  THURSDAY, 30 SEP 2021
... Wealth's Dawn Thomas was the Western Australian winner for building trust with a client who had previously received poor advice. Sunsuper head of advice and retirement Anne Fuchs said: "We were proud to support the AFA Great Advice awards in 2021 and ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... SMSF Association's National Conference via video link that several key projects are progressing to address the poor advice and behaviours that remain active in the SMSF sector. The watchdog is taking the appropriate actions against any misleading ...

Dealer groups slam FPA policy

ELIZABETH MCARTHUR  |  THURSDAY, 4 JUN 2020
... AFSL that they say the FPA failed to consider. "Additionally, licensees provide capital protection in the event of poor advice or importantly, remediation when needed, in the event there is no recourse through the adviser," the statement said. "The FPA ...

Adviser fears over ASIC relief

HARRISON WORLEY  |  THURSDAY, 30 APR 2020
... personal advice provided by 21 super funds was compliant. SCA is concerned funds will provide Australians with yet more poor advice because of its competing responsibilities: to act both in the best interests of the fund's members, and the individual ...

Major regulatory efforts delayed

HARRISON WORLEY  |  WEDNESDAY, 15 APR 2020
... markets. Additionally, ASIC said it would "heighten" its support for consumers vulnerable to scams, and receiving poor advice, and added it would "identify other actions needed to support firms", including providing regulatory relief where appropriate. ...

ASIC cancels slew of AFSLs

JAMIE WILLIAMSON  |  FRIDAY, 3 APR 2020
... MyPlanner Australia and MyPlanner Professional Services licences after surveillance determined advisers were providing poor advice under inadequate supervision. About a week later ASIC took action against one its individual advisers, accepting an enforceable ...

Court confirms Storm Financial founders breached duties

JAMIE WILLIAMSON  |  FRIDAY, 27 MAR 2020
... day-to-day of Storm Financial, ASIC alleged their failure to take reasonable steps to prevent Storm Financial from giving poor advice meant they did not exercise their powers as directors with the care and diligence a reasonable person would have employed. ...

ANZ Australia risk chief exits

JAMIE WILLIAMSON  |  FRIDAY, 28 FEB 2020
... audit found 5% of advice provided did not meet the best interests duty and also that the number of instances in which poor advice was provided jumped dramatically from 60 in 2008 to 2810 in 2015. This was despite the number of advisers licensed by the ...

Suncorp pays $1.4m remediation bill

JAMIE WILLIAMSON  |  TUESDAY, 3 SEP 2019
... fund the compensation. In addition, Suncorp also compensated clients who may have been at risk of having received poor advice from 'high-risk' advisers, who were identified using a range of risk metrics applied to all advisers in the Guardian Advice ...