Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 51 - 60 of 100+ results for "AFSL"

AMP adviser numbers shrivel

ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... The number of financial advisers licensed by AMP dropped dramatically in 2020, with the institution no longer the largest AFSL in the country by number of advisers. The largest AFSL is now the SMSF Adviser Network which had 839 advisers as at 31 December ...

Missing Caddick's mansion on the line

ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
... provisional liquidators to her business Maliver. ASIC has concerns that Maliver was providing financial services without an AFSL and that the AFSL of another company may have been used without authorisation. The regulator also alleges that investor funds ...

Almost 3000 advisers gone in 2020

ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
... joining, according to Rainmaker analysis of the Financial Adviser Register. AMP Financial Planning lost the most advisers of any AFSL this year, with 323 departing between January and December. The Advisers' Association Neil Macdonald said there are ...

ASIC takes action on Union Standard

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
... undertaking to the court to keep specified monetary amounts in a separate bank account. In July, ASIC suspended Union Standard's AFSL and two months later cancelled it. In the same month, BRI Ferrier was appointed as administrator. Liquidators were appointed ...

Director charged with dishonest conduct

ANNABELLE DICKSON  |  FRIDAY, 4 DEC 2020
... the Corporations Act by operating a financial services business without holding an Australian financial services licence (AFSL). The matter is being prosecuted by the Commonwealth Director of Public Prosecutions with each offence carrying a maximum penalty ...

AAT refuses Allegra AFSL

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
... financial services licence to Allegra Financial Services after it was initially rejected by ASIC. Allegra applied to ASIC for an AFSL in 2018 to provide personal financial product advice to retail and wholesale clients, with Lachlan Schonfelder as its ...

Dealer service provider adds former MLC advice firm

KANIKA SOOD  |  WEDNESDAY, 2 DEC 2020
... Financial Planning and Parish Financial. It says three more former bank-aligned practices are set to join by year-end, with their AFSL-applications in progress. "Some institutions have voluntarily closed their dealer group businesses and, at the same ...

IOOF ups costs for self-employed advisers

ELIZA BAVIN  |  TUESDAY, 1 DEC 2020
... operated, break-even AFSLs and those who are self-licensed. Whereat said there are around 1000 advisers in the break-even AFSL space, which is set to increase to around 1300 with the addition of TenFifty. "We are going to make sure that our technology ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 30 NOV 2020
... the competence or resources to provide financial services as required under its licence. ASIC said under the terms of its AFSL, Jels was required to have a 'key person'. Following the death of its key person, Jels failed to appoint a new key person. ...

ASIC takes action against missing woman

ELIZABETH MCARTHUR  |  FRIDAY, 27 NOV 2020
... from leaving Australia. ASIC is investigating concerns that Maliver may have been providing financial services without an AFSL or may have used the AFSL of another company without authorisation. The regulator is also concerned investor funds may have ...