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Showing 5891 - 5900 of 18266 results for "Plan"

We have won the battle, not the war: AustralianSuper CEO

HARRISON WORLEY  |  THURSDAY, 9 AUG 2018
... today the commission heard NULIS struggled to manage conflicts of interest between itself and NAB Wealth, in dealing with the plan service fee issue. Counsel assisting Michael Hodge suggested to former NULIS chair Nicole Smith the trustee "simply couldn't ...

Conflict of interest too great for NULIS: Royal Commission

HARRISON WORLEY  |  THURSDAY, 9 AUG 2018
... NULIS chair Nicole Smith the trustee "simply couldn't manage the conflicts" between itself and other related parties in the plan service fee issue which has now plagued NAB during the first week of superannuation hearings. Returning to the witness stand ...

Former advice specialist hired as Zenith analyst

KANIKA SOOD  |  THURSDAY, 9 AUG 2018
Zenith Investment Partners has hired a former associate financial adviser as an investment analyst, continuing a hiring trend it started earlier this year. James Damicoucas spent two-and-a-half years as an associate financial adviser at Perpetual Private ...

GROW Super co-founder sells advice business

JAMIE WILLIAMSON  |  THURSDAY, 9 AUG 2018
A privately-owned AFSL has acquired the financial advice business of a GROW Super co-founder. Profile Financial Services confirmed it has bought the client book of Churpa Wealth, the advice firm established by GROW Super co-founder Mathew Keeley in ...

AMP wealth arm leaked $873 million in first half

KANIKA SOOD  |  WEDNESDAY, 8 AUG 2018
AMP's wealth management arm, which includes its superannuation and platform products, saw net outflows of $873 million in the first half of 2018. By comparison, it had recorded net inflows of more than $1 billion in first half of last year. AMP's North ...

NAB compensation delays hopelessly conflicted: Royal Commission

KARREN VERGARA  |  WEDNESDAY, 8 AUG 2018
NAB found itself in a "hopelessly conflicted" situation by delaying the process of compensating members charged fees for no service in order to maintain profit levels, the third day of the Royal Commission's inquiry into superannuation heard. This ...

Fees for no service remediation passes $250 million

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
... superannuation industry, Commissioner Kenneth Hayne has been quizzing former NAB and MLC executives about the charging of plan service fees to super members and whether these fees constituted fees for no service. In May, ASIC chair James Shipton said ...

Boutique fund manager eyes second LIC

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
A Sydney-based international equities manager will soon launch its second listed investment company (LIC) with plans to raise upwards of $300 million for the new venture. Cadence Capital confirmed it will launch an initial public offering (IPO) for ...

Former NULIS chair faces Royal Commission

KANIKA SOOD  |  TUESDAY, 7 AUG 2018
... recall the looming FoFA changes as a primary or in-part motivation for the new fee structure. Two key fees under the new plan were: an adviser contribution fee (which was a name for contribution fee) and a planned service fee. The contribution fee referred ...

Plan service fees did not constitute fee for no service: NAB

HARRISON WORLEY  |  TUESDAY, 7 AUG 2018
... a 2016 ASIC draft report looking into fees for no service, on the basis it did not agree with the characterisation of the plan service fees issue as fees for no service, contesting the original disclosure to customers was inaccurate. According to Carter ...