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Showing 21 - 30 of 58 results for "Slashes"

CFS culls grandfathered commissions, slashes fees

KANIKA SOOD  |  FRIDAY, 6 DEC 2019
About 6000 financial advisers are set to lose $1700 per year in revenue, as Colonial First State starts to put grandfathered commissions to bed. The $145 billion manager is starting the phase out of grandfathered commissions with a small slice of the ...

CFS slashes trail commissions on some funds

KANIKA SOOD  |  THURSDAY, 29 AUG 2019
Colonial First State has pared back trail commissions on a small slice of its funds, in a move that will affect about 400 advisers. The maximum rate of adviser trail commission is reducing from 0.8% per annum to 0.4% per annum (excluding GST) for Colonial ...

Deutsche Bank slashes global workforce, exits global equities

KARREN VERGARA  |  MONDAY, 8 JUL 2019
Deutsche Bank is pushing past a "difficult period" by overhauling its global operations, resulting in 18,000 employees losing their jobs. The European bank announced overnight it will exit global equities functions of sales and trading, but retain an ...

Sunsuper slashes fees

KARREN VERGARA  |  FRIDAY, 28 JUN 2019
The $67 billion superannuation fund is reducing some of its fees as part of the Protecting Your Super changes. From July 1, Sunsuper is slashing weekly fees for pension members from $3.00 to $1.50. It will also reduce investment fees for its default ...

Super fund slashes fees, switches administrator

KARREN VERGARA  |  WEDNESDAY, 21 NOV 2018
A $5.5 billion superannuation fund scrapped several fees, discounted its insurance premiums and changed administrators. EISS Super announced several changes that took effect from 1 October 2018 affecting its superannuation, pension, retirement scheme ...

TAL slashes jobs, cuts outbound sales

JAMIE WILLIAMSON  |  FRIDAY, 19 OCT 2018
At least 50 staff members at TAL have been made redundant as part of a wider move to scale back its direct life insurance business. TAL said an ongoing program of change has been underway for some time and has so far resulted in reduced staffing requirements ...

Freedom drops chief, slashes workforce

KARREN VERGARA  |  WEDNESDAY, 3 OCT 2018
The chief executive of Freedom Insurance Group has left the company effective immediately and more than half of its workforce is being made redundant. Chief executive Keith Cohen, who has been at the helm for nearly nine years, will be replaced by chief ...

AstuteWheel speeds up risk advice timeframe

KARREN VERGARA  |  FRIDAY, 29 JUN 2018
Financial planning software provider AstuteWheel launched its latest tool which slashes the risk advice process to one hour. Astute Insurance Planner was created in partnership with an OmniLife app and YTML to integrate different systems and help financial ...

Asset manager awards admin mandate

KARREN VERGARA  |  FRIDAY, 15 JUN 2018
... managers who are looking for compelling software solutions." In early March, Global Merces launched a regtech solution that slashes the managed funds application process to five minutes. FUND.ID, a straight through processing system, on-boards new clients ...

Contango LIC slashes cash allocation after acquisition

KANIKA SOOD  |  THURSDAY, 10 MAY 2018
Contango Asset Management is reducing the cash allocation in its listed income fund, aiming to have 95% of its net tangible assets fully invested. For the past 12 to 18 months, the $100 million Contango Income Generator listed investment company (CIE) ...