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Showing 41 - 50 of 112 results for "mortgage broking"

Former NAB adviser charged

JAMIE WILLIAMSON  |  TUESDAY, 23 APR 2019
... access to funds in the fake accounts. ASIC said Eung also incorporated a company for the purpose of operating a mortgage broking business, becoming a credit representative to provide credit assistance within that business. The regulator determined Eung ...

Commonwealth Bank delays wealth demerger

JAMIE WILLIAMSON  |  THURSDAY, 14 MAR 2019
Commonwealth Bank is delaying its demerger plans for its wealth management and mortgage broking businesses. Announced today, the group said it is prioritising the implementation of the Royal Commission's recommendations, refunding customers and ...

Mortgage broker trail commissions to stay

KANIKA SOOD  |  WEDNESDAY, 13 MAR 2019
... whether upfront commissions should be continued. He said the decision was made following consultation with the mortgage broking industry and small lenders. Almost 60% of residential mortgages in Australia are settled through 16,000 brokers, Frydenberg ...

Royal Commission to disrupt product distribution: Roy Morgan

JAMIE WILLIAMSON  |  WEDNESDAY, 13 FEB 2019
... interests of the customer and the need to provide service for any fee involved," the research house said. Those in mortgage broking will also be impacted, with about 39% of existing home loan balances attributable to this sector. The greatest use of ...

CBA stashes cash for compliance

DARREN SNYDER  |  WEDNESDAY, 12 DEC 2018
... charged by aligned advisers in the wealth management group. NewCo is CBA's newly-branded wealth management and mortgage broking company preparing to demerge in 2019. A further $100 million will be set aside to cover the higher than expected costs of ...

CBA sells CFSGAM, new wealth business chief executive appointed

KANIKA SOOD  |  WEDNESDAY, 31 OCT 2018
... MUTB approached Commonwealth Bank (CBA) after the bank announced its intention to demerge its asset management, mortgage broking and wealth businesses in June. CBA clarified that CFSGAM will now be excluded from the demerger of the bank's wealth ...

CFSGAM chief executive departs

JAMIE WILLIAMSON  |  FRIDAY, 21 SEP 2018
... announced plans to demerge CFSGAM alongside Colonial First State, its third-party financial advice businesses and its mortgage broking business. This process is expected to be complete in 2019 with the businesses to be collectively known as CFS Group. ...

CBA readies wealth demerger, records $9.2bn cash profit

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
... than $500 million for the past two years. NewCo, or Commonwealth Bank's newly-branded wealth management and mortgage broking company preparing to demerge in 2019, contributed more than 6% to CBA's overall cash after-tax profit of $9.2 billion. ...

CBA to demerge CFS, mulls further CommInsure sell-off

JAMIE WILLIAMSON  |  MONDAY, 25 JUN 2018
... that they can participate in the performance of the CFS Group," he said. He added that the wealth management and mortgage broking businesses are each high-quality franchises. "With innovation and disruption in wealth management increasingly favouring ...

Former NAB adviser permanently banned

HARRISON WORLEY  |  FRIDAY, 8 JUN 2018
... at NAB, focusing on the period between March and December 2016. However, the investigation expanded to probe a mortgage broking business Eung incorporated after his time at NAB. The regulator added Eung became a credit representative to provide credit ...