Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 551 - 560 of 1219 results for "Switch"

Morrison unveils open banking framework

KARREN VERGARA  |  MONDAY, 12 FEB 2018
The Federal Government's final report into open banking details 50 recommendations on how the new regime can succeed and ultimately empower consumers. Last week, Treasurer Scott Morrison unveiled a list of proposals covering the regulatory framework ...

Court fines advice firm $7.8m

KARREN VERGARA  |  FRIDAY, 9 FEB 2018
... personal financial advice. WRM advertised 'fast cash' to consumers often with poor credit histories and recommended they switch their superannuation funds and take out high-end insurance. Advisers would then charge advice fees that were paid out of consumers' ...

Vertically integrated institutions failing to manage conflicts of interest

JAMIE WILLIAMSON  |  THURSDAY, 25 JAN 2018
... the advice. "We commonly saw the unnecessary replacement of financial products, where advisers recommended that customers switch to a new product when their existing product appeared to be suitable to meet the customer's needs and objectives," ASIC said. ...

ASIC accepts EU from Brisbane adviser

KARREN VERGARA  |  FRIDAY, 19 JAN 2018
ASIC accepted an enforceable undertaking from a Queensland financial adviser for not meeting his life insurance replacement advice obligations. ASIC found Duane Wright, owner of Brisbane-based First National Home Loans and Insurance, breached obligations ...

AMP Capital names executive switch

ALEX BURKE  |  THURSDAY, 18 JAN 2018
AMP Capital's joint chief financial officer and chief operating officer has left the company and a successor has been appointed. Margaret Payn, who has worked with AMP Capital for five years, will relocate to the UK for family reasons. John Patrick ...

SMSF members want overseas restrictions lifted

DARREN SNYDER  |  TUESDAY, 16 JAN 2018
Australians temporarily living overseas are compelled to switch their self-managed superannuation to an APRA-regulated fund and this becomes a costly and cumbersome exercise. The SMSF Association is calling on the Federal Government to lift these restrictions. ...

ASIC cancels AFSL, accepts EU

DARREN SNYDER  |  TUESDAY, 16 JAN 2018
... unable to afford the premiums; and failed to provide adequate product replacement disclosure when recommending clients to switch products. ASIC said Breakaway and Roberts acknowledge that the regulator's views are reasonably held. Under the EU, Breakaway ...

ASIC successfully files injunction against Melbourne advice provider

JAMIE WILLIAMSON  |  MONDAY, 15 JAN 2018
... The financial advice offered by Financial Circle Pty Ltd recommended consumers purchase personal insurance products and switch superannuation funds. Financial Circle benefited by way of the significant advice fees being payable to the practice from the ...

AustralianSuper embraces goals-based advice

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2018
Australia's largest superannuation fund is making the switch to goals-based financial advice. Speaking to Financial Standard, AustralianSuper group executive, member experience and advice Shawn Blackmore said the $120 billion fund has started to integrate ...

AFA to launch investigation into adviser misconduct

JAMIE WILLIAMSON  |  FRIDAY, 22 DEC 2017
The Association of Financial Advisers has confirmed it will launch its own investigation into why three of its members entered into enforceable undertakings with ASIC in as many days. While AFA chief executive Phil Kewin said he would not discuss the ...