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

Search Results

Showing 571 - 580 of 1277 results for "AFS"

Publisher slammed for Future Fund claim

HARRISON WORLEY  |  MONDAY, 2 SEP 2019
A publishing house that claimed investors could mimic the performance of the Future Fund has been slapped with a $600,000 fine by the Federal Court. Online publishing company Port Phillip Publishing (PPP) has been ordered to pay a $600,000 penalty by ...

Beware adviser conflicts of interest: Lonsec

ELIZABETH MCARTHUR  |  WEDNESDAY, 28 AUG 2019
... expects advisers to be able to prove how an MDA is in the best interest of their clients. "ASIC also expects advisers and AFS licensees to monitor the performance and ongoing appropriateness of the MDA service for their clients," the spokesperson sai ...

ASIC bans adviser again

HARRISON WORLEY  |  FRIDAY, 16 AUG 2019
A financial adviser previously banned by ASIC has found himself in hot water again. Tarandeep Aujla has been banned from providing financial services for three years by the corporate regulator for failing to act in the best interests of his clients. ...

Sequoia acquires dealer group

JAMIE WILLIAMSON  |  TUESDAY, 6 AUG 2019
Sequoia Financial Group has acquired a national dealer group, home to 68 authorised representatives. Sequoia acquired Sydney-based Libertas Financial Planning, a national licensee with 68 authorized representatives as at August 1, 60 of which are active ...

Adviser stole $200k from SMSFs

ELIZABETH MCARTHUR  |  TUESDAY, 6 AUG 2019
... September 2016 so that Marigold Falconer could lodge an application for licence variation. In August 2016, ASIC cancelled the AFS licence of Marigold Falconer because it was unable to satisfy the regulator that it could obtain the appropriate insurance. ...

AMP MDA constraints frustrate advisers

ELIZABETH MCARTHUR  |  MONDAY, 5 AUG 2019
... industry, and the imposition of additional licence conditions is part of ongoing efforts to make our expectations clear to AFS licensees." She added that new licence applicants and licensees seeking variations can expect ASIC to tailor licence conditions ...

Advice resilient under pressure: Research

ELIZABETH MCARTHUR  |  THURSDAY, 1 AUG 2019
Just 11% of financial advisers plan to leave the industry if the full recommendations from the Royal Commission are implemented. However, data shows the industry's outlook as a whole remains positive. This is a key finding from Investment Trends' 2019 ...

Managed accounts hit milestone

ELIZABETH MCARTHUR  |  WEDNESDAY, 31 JUL 2019
Managed accounts have reached a growth milestone, now making up 29% of the investment market in Australia. Managed accounts funds under administration grew by 17% to $51 billion in the 12 months to March, according to Rainmaker data. Platform funds ...

Spectrum Wealth representatives find new homes

ELIZABETH MCARTHUR  |  MONDAY, 29 JUL 2019
... Spectrum who wish to find a new adviser have been advised by ASIC to make sure they are dealing with an adviser authorised by an AFS licensee. The decision by Spectrum to voluntarily cancel its licence comes after the departures of some key personnel. ...

Sam Henderson cops ASIC ban

KANIKA SOOD, JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
... demonstrate how their clients' interests are being prioritised, especially if in-house products have higher ongoing fees. AFS licensees are responsible for ensuring that they disclose any associations that could potentially influence the financial ...