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Showing 4811 - 4820 of 18263 results for "Plan"

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
Westpac said it expects $80 million in additional expenses in FY20 as parts of its response plan in relation to the AUSTRAC scandal. The bank provided a company update to the ASX, in which it outlined its progress on its response plan for the AUSTRAC ...

HSBC to cut 35,000 jobs

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
HSBC announced plans to cut around 35,000 jobs from its global business after posting a 33% drop in profits in 2019. The bank said it is also planning a complete restructure of the business as it reduces its global headcount to around 200,000 employees ...

Advice complaints low: AFCA

ELIZABETH MCARTHUR  |  WEDNESDAY, 19 FEB 2020
In an update to the SMSF Association conference, the Australian Financial Complaints Authority has revealed complaints about financial advice are minimal. Addressing the conference, Ian Donald and Shail Singh, both ombudsmen at AFCA, said investments ...

Focus to acquire stake in MEDIQ

KANIKA SOOD  |  WEDNESDAY, 19 FEB 2020
Following its acquisition of a stake in Escala Partners, New York-based Focus Financial Partners is set to buy a slice of Melbourne-based MEDIQ Financial Services. Focus has entered a definitive agreement to partner with Ravi Agarwal's MEDIQ Financial ...

Value disconnect damages adviser relationships

ALLY SELBY  |  WEDNESDAY, 19 FEB 2020
There is disconnect between what investors value from their advisers and what advisers believe investors value, leading to frustration and a breakdown in advisory relationships. That's according to the latest research coming out of Morningstar, which ...

AustralianSuper SG modelling paints dismal picture

KANIKA SOOD  |  TUESDAY, 18 FEB 2020
The average female member of Australia's largest superannuation fund will not be able to achieve a comfortable retirement even with a 12% superannuation guarantee, according to the fund's internal modelling. AustralianSuper calculated expected ...

IOOF profits fall 39%, advice margins drop

KANIKA SOOD  |  TUESDAY, 18 FEB 2020
IOOF's underlying net profit after tax slumped 39% in the first half of FY20 to $56.6 million, following increased governance spending, pricing pressures and divestments. Statutory NPAT was $115 million, buoyed by proceeds from IOOF's sale of Ord Minnett ...

Netwealth gains $9.5bn, reveals expansion plans

ELIZABETH MCARTHUR  |  TUESDAY, 18 FEB 2020
Netwealth's funds under administration grew by $9.5 billion in the first half of 2020, as the platform reveals plans to expand its distribution team. Netwealth reported FUA of $28.5 billion, an increase of $9.5 billion and net inflows for 1H2020 of ...

Netwealth leads the platform pack

ALLY SELBY  |  TUESDAY, 18 FEB 2020
Investment Trends has released the 16th edition of its Platform Benchmarking and Competitive Analysis Report, with Netwealth taking out the top gong. The wealth management platform led the pack for overall platform functionality, followed closely by ...

Zenith enters superannuation

ELIZA BAVIN  |  TUESDAY, 18 FEB 2020
Zenith Investment Partners announced a $12 million acquisition supporting its push into the superannuation industry. Zenith has entered into an agreement to purchase the Chant West superannuation and consultancy business, supporting the growth ambitions ...