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Showing 41 - 50 of 52 results for "Michael Hodge"

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... In the Royal Commission's fifth round, which kicked off in Melbourne this morning, Senior Counsel Assisting Michael Hodge said AMP, CBA, IOOF, ANZ and StatePlus Super have admitted to engaging in miscount or possible misconduct with respect to advice ...

ROYAL COMMISSION: Top stories

JAMIE WILLIAMSON  |  FRIDAY, 20 APR 2018
... deliberately misled ASIC over ongoing fees-for-no-service policies on multiple occasions. Senior Counsel Assisting Michael Hodge singled out AMP's 90-day exception rule, whereby the business would continue to charge clients fees while they had been transitioned ...

Dead advice clients slugged ongoing service fees

JAMIE WILLIAMSON  |  THURSDAY, 19 APR 2018
... Referring to a document from a December 2015 CBA risk and compliance committee meeting, Senior Counsel Assisting Michael Hodge told the Commission of an instance in which service fees were charged to a client that passed away in 2007 by a Count representative ...

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

KANIKA SOOD  |  THURSDAY, 19 APR 2018
... general manager of the private banking division, Marianne Perkovic, also began her testimony. Senior Counsel Assisting Michael Hodge pursued a line of questioning that revealed CBA slashed adviser numbers even as it grew its client base.The bank took ...

Royal Commission latest: CBA doing more with fewer advisers

KARREN VERGARA  |  WEDNESDAY, 18 APR 2018
... fronted the afternoon session of the financial services Royal Commission on Wednesday. Senior Counsel Assisting Michael Hodge referenced a memo sent to CBA senior staff dated 3 May 2012, detailing concerns about ongoing service obligations and how clients ...

AMP platform fees laid bare

KARREN VERGARA  |  WEDNESDAY, 18 APR 2018
... to call AMP's call centre, which would then be carried out by the operations team. When Senior Counsel Assisting Michael Hodge asked if there was any reason why AMP couldn't do more to facilitate the legislative rules and make it easier for clients to ...

Outgoing CEO name removed from critical AMP report draft

ALEX BURKE  |  TUESDAY, 17 APR 2018
... chief executive Craig Meller's name from a draft of a critical report about the business. Senior Counsel Assisting Michael Hodge referred to the Clayon Utz report prepared about misconduct in the advice business. He took AMP advice head Anthony Regan ...

RC findings bring shame on advice industry: social media

ALEX BURKE  |  TUESDAY, 17 APR 2018
... corporate version of "I can't recall"? Today's hearings produced some memorably squirm-worthy moments. Impressed by Michael Hodge too. #shockandorr. - Shaun Gath (@ShaunCGath) April 16, 2018 Narrabundah Partners principal Shaun Gath criticised the industry's ...

No view on ending adviser commissions: AMP

ALEX BURKE  |  TUESDAY, 17 APR 2018
... cessation of the commission-based adviser remuneration model, despite personal reservations. Senior Counsel Assisting Michael Hodge asked Regan whether AMP had formulated a view on whether it would be appropriate for planners to only charge fees-for-service ...

AMP deliberately misled ASIC over ongoing fees

ALEX BURKE  |  TUESDAY, 17 APR 2018
... deliberately misled ASIC over ongoing fees-for-no-service policies on multiple occasions. Senior Counsel Assisting Michael Hodge singled out AMP's 90-day exception rule, whereby the business would continue to charge clients fees while they had been transitioned ...