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Showing 41 - 50 of 55 results for "Buyer of Last Resort"

Fees for no service an old issue: AMP

DARREN SNYDER  |  FRIDAY, 4 MAY 2018
... "the 90-day exception". "Between 2010 and 2016, of the 2417 register transactions that took place, 39 were Buyer Of Last Resort (BOLR) transactions which involved application of the 90-day exception," the AMP submission said. "We have apologised to and ...

ASIC totally unprepared for advice reforms: Tynan

ALEX BURKE  |  THURSDAY, 19 APR 2018
... financial institutions and consultants were also part of said club. "The reality is the 90-day exception, buyer of last resort stuff - this has been going on for 30 years. ASIC knows this. It's not just AMP. It's what the entire industry was built on," ...

RECAP: Advice in the Royal Commission spotlight (Days 1 - 3)

KANIKA SOOD  |  THURSDAY, 19 APR 2018
... misconduct in its three RC submissions. Testifying for AMP, head of advice Anthony 'Jack' Regan admitted the Buyer of Last Resort (BOLR) measures were designed to incentivise financial advisers to show preference for its in-house platforms, up until ...

NAB details serious compliance concerns in RC advice submission

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... service fees. Follow Financial Standard for ongoing coverage of the financial services Royal Commission: AMP's buyer of last resort measures scrutinised AMP executive apologises for advice failings Commonwealth Bank refunding millions in fees for no ...

AMP's buyer of last resort measures scrutinised

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
AMP has admitted that its Buyer of Last Resort measures, up until June 2017, were designed to incentivise financial advisers to show preference for its in-house platforms. Giving evidence on the first day of the Royal Commission's inquiry into financial ...

AMP executive 'apologises' for advice failings

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... apology." Follow Financial Standard for ongoing coverage of the financial services Royal Commission: AMP's buyer of last resort measures scrutinised NAB details serious compliance concerns in RC advice submission Commonwealth Bank refunding millions ...

ANZ issues last minute RC submission correction

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... compliance concerns in RC advice submission Commonwealth Bank refunding millions in fees for no service AMP's buyer of last resort measures scrutinised Royal Commission must cast net wider

Succession planning ensures quality customer service

JAMIE WILLIAMSON  |  WEDNESDAY, 4 OCT 2017
... end-to-end commitment that mirrors the lifelong journey of the advice process and offloading a practice via Buyer of Last Resort (BoLR) arrangements is a damning reflection of both an adviser and the advice industry. BoLR provisions allow the purchase ...

ANZ wealth sale marks end of an advice era

ALEX BURKE  |  FRIDAY, 4 NOV 2016
... ripples through the succession plans of many advice businesses now that banks can no longer be considered a "buyer of last resort." During a media briefing discussing the bank's full-year results to September 30, ANZ chief executive Shayne Elliott said ...

Planning firms mispriced on knowledge blacks spots

MARK SMITH  |  MONDAY, 3 JUN 2013
... are most important to them. This list includes factors such as the AFSL of the vendor, whether there is a buyer of last resort, access to bank funding, client exposure to failed products, business mix, service proposition and pricing, revenue per client ...