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Showing 611 - 620 of 1277 results for "AFS"

ClearView defends risk advice commissions

KARREN VERGARA  |  TUESDAY, 26 MAR 2019
ClearView is countering Commissioner Kenneth Hayne's recommendation to reduce or eliminate commissions financial advisers earn from life insurance products. It is "way too early," ClearView wrote in an email to advisers, to consider tinkering with ...

Federal Court shuts down Linchpin and Endeavour Securities

KARREN VERGARA  |  TUESDAY, 26 MAR 2019
ASIC has helped put Endeavour Securities and Linchpin Capital Group into liquidation. The Federal Court also ordered the registered scheme operated by Endeavour and the unregistered scheme operated by Linchpin - both called the Investport Income Opportunity ...

Banks move to derisk, workforces shrink

KANIKA SOOD  |  MONDAY, 25 MAR 2019
Australian employment figures and economic outlook could take a hit as major banks move to derisk their businesses by hiving off wealth and financial advice businesses. Westpac has announced it is exiting personal financial advice. Commonwealth Bank ...

Westpac exits personal advice, restructures leadership

JAMIE WILLIAMSON  |  TUESDAY, 19 MAR 2019
Westpac is realigning its wealth strategy and BT Financial Group will cease as a standalone division. The group has also agreed to sell a number of advisers to Viridian Advisory. BT Financial Group will cease to be a standalone division of Westpac Group. ...

Liquidation likely for Halifax

HARRISON WORLEY  |  FRIDAY, 15 MAR 2019
Halifax administrators updated investors on the future of the beleaguered online stockbroking firm, with signs pointing to liquidation. The firm - whose AFSL was suspended shortly after it went into voluntary administration in November 2018 - was found ...

ASIC scolds banks over fee-for-no-service delays

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
... from the 2017 ASIC Enforcement Review Taskforce Report, which includes a directions power. This would allow ASIC to direct AFS licensees to establish suitable customer review and compensation programs." ASIC said the delays boiled down to a variety of ...

New retirement loan launches

KARREN VERGARA  |  WEDNESDAY, 6 MAR 2019
A new debt product that facilitates funding needs for financial advisers' retiree clients has launched. Household Loan, backed by specialist retirement funding provider Household Capital, enables retirees to draw equity from the family home to fund ...

Consultation opens for claim handling changes

HARRISON WORLEY  |  MONDAY, 4 MAR 2019
The Federal Government has opened consultation on a proposal to remove the exclusion of insurance claims handling from the definition of financial service. Industry stakeholders were worried about the unintended consequences of removing the exclusion ...

ASIC releases AFSL approval data

JAMIE WILLIAMSON  |  FRIDAY, 1 MAR 2019
Of the 1728 new Australian Financial Services Licence applications ASIC considered last financial year, 758 were approved. Close to 200 AFSLs were cancelled in the same period. Latest statistics from ASIC show that of the 758 approvals, 303 comprised ...

ClearView posts first half profit dip

KANIKA SOOD  |  WEDNESDAY, 27 FEB 2019
ClearView posted a 13% dip in its underlying NPAT in the first half as it repositions pricing of its life insurance and wealth management products. The ASX-listed diversified financials has three main businesses: life insurance, wealth management and ...