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Showing 581 - 590 of 1613 results for "Recommended"

Royal Commission grills professional associations

KARREN VERGARA  |  THURSDAY, 26 APR 2018
... over imposing immediate sanctions. The negotiations with Henderson dragged well into 2018. Until recently, the FPA recommended Henderson is admonished for breaching the codes of practice; pay all outstanding membership and levies to the FPA; take corrective ...

High profile adviser under fire

JAMIE WILLIAMSON  |  THURSDAY, 26 APR 2018
... made by Henderson Maxwell to the super fund - more than a month before the SoA was presented to McKenna. The SoA also recommended McKenna deposit any "extra cash" to Henderson Maxwell on a monthly basis and make an in specie transfer of Medibank shares ...

Robo-adviser partners with private wealth firm

KARREN VERGARA  |  TUESDAY, 24 APR 2018
... service is appropriate on a case-by-case basis. "Where an MDA service is deemed appropriate, each user will receive a recommended investment program, documented within a Statement of Advice," Kaura said. Each investment program will contain a diversified ...

AMP kept unsuspecting clients in the dark: RC

KARREN VERGARA  |  TUESDAY, 24 APR 2018
... service mounted $16,000 of exit fees and the adviser charged the husband's account, slashing his balance by 25%. He then recommended the wife switch super providers from Vision Super to MyNorth for her $46,000 nest egg. Mr E didn't attempt to compare ...

US regulator to extend fiduciary rule

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
... must put their clients' interests ahead of their own. However, brokers are merely required to ensure any investment recommended is appropriate. Under the new proposals, brokers would also be required to act in the best interest of a retail client when ...

RC questions adviser sales tactics

KARREN VERGARA  |  FRIDAY, 20 APR 2018
... advisers simply providing genuine advice whereby nothing else needed to be done or no other products needed to be recommended to clients' portfolios. Wright conceded that he and senior management haven't done enough in this area. But in terms of grandfathering ...

Blue Sky funds downgraded after profit revisions

ALEX BURKE  |  FRIDAY, 20 APR 2018
... had fallen short of shareholder expectations. Blue Sky's Alternatives Access Fund was downgraded to 3.25 stars and recommended as unsuitable for most approved product lists. SQM justified this by saying performance has been "significantly under benchmark ...

Royal Commission case study: advice put retirement in ruins

JAMIE WILLIAMSON  |  THURSDAY, 19 APR 2018
... final offer - was declined on the same grounds. A complaint was then made to the Financial Ombudsman Service which recommended in February 2017 that Westpac pay $79,322. It was also rejected. In August 2017, FOS re-determined that Westpac should pay ...

Dead advice clients slugged ongoing service fees

JAMIE WILLIAMSON  |  THURSDAY, 19 APR 2018
... widow until 2013, with still no action taken. According to the document, the risk and compliance committee simply recommended a formal warning be issued to the adviser. On another occasion, "a different adviser provided advice in 2003 to a client who ...

RC findings bring shame on advice industry: social media

ALEX BURKE  |  TUESDAY, 17 APR 2018
... criticised the industry's evasive responses to questions. Watching the Banking Royal commission, I'm reminded of what we recommended to the Joint Parliamentary Committee 9 years ago regarding fee for no service in financial planning. 9. Years. Ago. #BankingRC ...