Search Results | Showing 31 - 40 of 40 results for %22BOLR%22 |
| | ... decision, in the face of internal recommendations to stop the practice, to continue charging clients when they were put into the BOLR pool. We also learned that AMP misled ASIC about the nature of this practice," Palmer explained. Financial Standard ... |
| | | ... 90-day exception". "Between 2010 and 2016, of the 2417 register transactions that took place, 39 were Buyer Of Last Resort (BOLR) transactions which involved application of the 90-day exception," the AMP submission said. "We have apologised to and refunded ... |
| | | ... 90-day exception rule, whereby the business would continue to charge clients fees while they had been transitioned into a BOLR pool. Under this arrangement, clients would continue to be charged fees while they were not receiving services for up to 90 ... |
| | | ... independent report about misconduct in AMP's advice business. AMP charged clients fees for 90 days after they had been moved into a BOLR pool.It also allegedly lied to ASIC, telling the regulator its 90-day fee for no service rule was an "administrative ... |
| | | ... 90-day exception rule, whereby the business would continue to charge clients fees while they had been transitioned into a BOLR pool. Under this arrangement, clients would continue to be charged fees while they were not receiving services for up to 90 ... |
| | | ... Royal Commission's inquiry into financial advice, AMP group executive, advice and New Zealand Anthony Regan admitted the BOLR policy held by AMP between 1 July 2012 and 30 June 2017 stated that advisers selling client books to their licensee had to meet ... |
| | | ... the client's adviser sold the rights to the service and the right to be paid by the clients to an AMP licensee under a BOLR arrangement. "Upon acquisition by the licensee, the clients were placed into a central pool. For so long as the clients remained ... |
| | | ... end-to-end commitment that mirrors the lifelong journey of the advice process and offloading a practice via Buyer of Last Resort (BoLR) arrangements is a damning reflection of both an adviser and the advice industry. BoLR provisions allow the purchase ... |
| | | ... valued on a multiple of annual recurring revenue with many institutionally owned licensees having a 'buyer of last resort' (BOLR) benefit in place for their planners based on a pre-determined multiple of that revenue. The outcome of this structure is ... |
| | | ... favouring in-house products to one based on an independent market valuation. Under MLC's existing model a 'buyer of last resort' (BOLR) contract, which is an arrangement where a fund manager agrees to buy a financial planning practice, is traditionally ... |
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