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Showing 41 - 50 of 103 results for "Advice licensee"

Results of ASIC MDA review imminent

ELIZABETH MCARTHUR  |  WEDNESDAY, 25 SEP 2019
... submission to ASIC: "One of the concerns about the development of managed account services, including those where the advice licensee is MDA provider or acts as portfolio manager in another form of managed account has been the extent to which they give ...

FASEA ethics pose risk to managed accounts

ELIZABETH MCARTHUR  |  MONDAY, 23 SEP 2019
The Institute of Managed Accounts Professionals (IMAP) has made a submission to the Financial Adviser Standards and Ethics Authority, questioning its consideration of conflicts of interest in the Code of Ethics. IMAP said Standard 3 in the FASEA Code ...

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 ...

Lonsec to acquire in-house managed account offerings

HARRISON WORLEY  |  TUESDAY, 7 MAY 2019
Lonsec is looking to help financial advisers transition away from conflicted advice models by acquiring their in-house managed portfolios. Lonsec is offering to purchase in-house managed portfolio solutions from advice licensees, allowing advisers to ...

Rush of advisers sign up before FASEA deadline

ELIZABETH MCARTHUR  |  FRIDAY, 26 APR 2019
... licensees. Over the same period, the number of advisers registered with ASIC increased by 7000. AMP is the largest advice licensee with 2577 advisers. However, its margin over the next largest licensee - CBA - has significantly reduced. At that point ...

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
Extra conditions have been placed on the AFSL of one of Australia's biggest financial advice licensees following an investigation sparked by phenomenal growth in adviser numbers in just six months. SMSF Advisers Network has had additional licence ...

Banks, ASIC still at war over fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
ASIC's fee-for-no-service report card shows the regulator and some financial advice licensees still have fundamentally different views on what constitutes a fee-worthy service. ASIC's fees-for-no-service further review report card has shone light on ...

Advice group appoints general manager

KANIKA SOOD  |  THURSDAY, 21 FEB 2019
An advice licensee owned by HUB24 hired from BT Financial Group to fill a newly-created general manager role. Sonya Choi La Rosa is joining Paragem after six years at BTFG. She has 20 years' leadership experience, including senior roles at Mercer ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
Financial advice licensees are not doing enough to communicate the background of advisers. As such, compliance with the Australian Banking Association's reference checking protocols should be mandatory for all advice licensees, the Royal Commission ...

ASIC cracks down on non-compliant AFSL

JAMIE WILLIAMSON  |  MONDAY, 21 JAN 2019
ASIC has slapped additional conditions on the AFSL of an advice practice operating on the New South Wales Central Coast. Surveillance by ASIC showed HNW Planning failed to adequately monitor and supervise its representatives. Its audit processes were ...