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Showing 31 - 40 of 83 results for "Fee disclosure statement"

ASIC to crack down on platform fees

ELIZABETH MCARTHUR  |  WEDNESDAY, 14 AUG 2019
... which fees to include in the fee disclosure statements. ASIC's concerns with platforms' compliance with fee disclosure statement requirements are lengthy, extending to questions around whether fee disclosures were given to clients by financial advisers ...

Adviser stole $200k from SMSFs

ELIZABETH MCARTHUR  |  TUESDAY, 6 AUG 2019
The Australian Securities and Investments Commission (ASIC) permanently banned a former financial adviser who stole more than $200,000 from client self-managed superannuation funds. Robert Michael of Bentleigh, Victoria has been permanently banned from ...

Advice practice supply outweighs demand

JAMIE WILLIAMSON  |  MONDAY, 13 MAY 2019
The valuation gap between high-quality financial advice businesses and conventional practices is growing, with the sector quickly turning into a buyers' market. Latest insights from Radar Results show the valuation gap between high-quality practices ...

NAB signals more bad advice remediation

KARREN VERGARA  |  THURSDAY, 1 NOV 2018
Among its FY18 results, National Australia Bank flagged that bad advice and fees for no service remediation will continue to dampen its future financial performance. Numerous contingent liabilities and potentially paying out more compensation plagued ...

ASIC to review FDS compliance

HARRISON WORLEY  |  TUESDAY, 16 OCT 2018
ASIC will review financial advice fee disclosure statements and renewal notices, after licenses submitted breach reports to the extent the corporate regulator is concerned about systemic non-compliance. The FDS review will examine to what extent advice ...

More risk advisers offloading practices

KARREN VERGARA  |  WEDNESDAY, 29 AUG 2018
... investment revenue streams. "These trail commission registers in 2013-14 were sought after because no Fee Disclosure Statement (FDS) was required and the opt-in requirement for new clients from 1 July 2013, didn't apply. Even some major banks that ...

PayLogic signs new AFSL client

JAMIE WILLIAMSON  |  WEDNESDAY, 26 APR 2017
An independent advice dealer group is the latest to partner with AdviserLogic, now using its PayLogic software. Advisers licensed through InterPrac Financial Planning will now have access to the revenue management software, expanding AdviserLogic's ...

Industry model costing good advisers

KARREN VERGARA  |  MONDAY, 3 APR 2017
The proposed industry funding model to help ASIC regulate poor advisers is at the cost of those behaving professionally and ethically, according to the Association of Financial Advisers. The ASIC Supervisory Cost Recovery Levy Bill, which details an ...

CBA responds to systemic advice failures

KERRIE SYDEE  |  FRIDAY, 28 OCT 2016
The Commonwealth Bank of Australia will repay more than 65% of the $154 million in required compensation estimated by ASIC. In response to ASIC's report 'Financial advice: Fees for no service', CBA has confirmed it will be refunding $105 million in ...

Synchron announces LIF tech and referral arrangements

ALEX BURKE  |  TUESDAY, 23 FEB 2016
Following on from its partnership with AIA to create a Life Insurance Framework-friendly insurance product, Synchron has announced two new LIF support initiatives. The first is SyncAdvsr, a software package designed to automatically produce fee disclosure ...