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Showing 5221 - 5230 of 14214 results for "Interest"

MLC MySuper investment budget was tight-fisted: Royal Commission

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
... Nicole Smith's questioning on day three, senior counsel assisting Michael Hodge attempted to highlight conflicts of interest in MLC's MySuper product. The fund was performing in the bottom quarter of peer MySuper products, returning about 1.9% ...

AMP wealth arm leaked $873 million in first half

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
... said he expects the trend to continue as new education requirements came into effect in 2020. The executives expressed interest in growing its goals based advice, adding that it could go quicker. "We do have a belief in advice...and part of that is going ...

NAB compensation delays hopelessly conflicted: Royal Commission

KARREN VERGARA  |  WEDNESDAY, 8 AUG 2018
... the board's inertia to come to a decision to fully compensate members when it only had one duty: to act in the best interest of members. Smith agreed that the process "took too long" and claimed she was persistently "agitating" senior management ...

Fees for no service remediation passes $250 million

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
... remediation, ASIC said AMP, ANZ, CBA, NAB and Westpac have now paid or offered customers $222.3 million in refunds and interest for failing to provide advice while charging ongoing fees. Other institutions and Australian financial services licensees ...

NAB looked to keep plan service fees, Royal Commission hears

HARRISON WORLEY  |  TUESDAY, 7 AUG 2018
... questioned MLC's decision to stick with grandfathered arrangements, raising whether the practice was in the best interest of members.

Equity Trustees responds to GAM suspension

JAMIE WILLIAMSON  |  TUESDAY, 7 AUG 2018
... said it found no evidence to suggest Haywood was motivated by an "improper rationale" or that there was a conflict of interest between him and clients. It now intends to follow its internal disciplinary processes which it hopes to complete swiftly, further ...

Chief economist update: Do nothing RBA

BENJAMIN ONG  |  TUESDAY, 7 AUG 2018
... (25 months) that the country's cash rate had been stuck at a record low 1.50%, and the longest stretch of unchanged interest rates at that. For sure and for certain, financial markets would hear what they expect to hear from Governor Philip Lowe ...

Lose grandfathered commissions, lose business: MLC

KARREN VERGARA AND JAMIE WILLIAMSON  |  MONDAY, 6 AUG 2018
... financial services Royal Commission questioned if MLC's decision to stick with grandfathered arrangements was in the best interest of members following a large consolidation of superannuation funds that provided an opportunity to remove them. In ...

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... some customers advice-related fees affecting 760 accounts and remediated more than $634,000 in fees and compensatory interest. In the same vein StatePlus Super will compensate about $92 million to members charged for fees for no service that related ...

Vicinity Centres partners for $1bn wholesale property fund

KANIKA SOOD  |  MONDAY, 6 AUG 2018
... gearing by 400 basis points. Vicinity chief executive and managing director Grant Kelley said there was already significant interest in VKF from offshore institutions. "We intend to reinvest the proceeds into our high-quality development pipeline, and ...