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Showing 51 - 60 of 213 results for "Advice fees"

Former Dover adviser banned

ANNABELLE DICKSON  |  THURSDAY, 21 OCT 2021
... in need of cash to replace their existing insurance and superannuation products with new ones so he could receive advice fees and insurance commissions. He then used some of the fees and commissions he received to make cash payments to these clients. ...

Conflicts of interest risk in funds management still high: ASIC

ANNABELLE DICKSON  |  FRIDAY, 24 SEP 2021
... as fund managers lack control over intermediaries and the flow on effect to retail investors. Investor fees include advice fees, platform fees and fund management fees but the management fee is just half of the total fee paid by investors. "Fund managers ...

AMP reduces super fees

JAMIE WILLIAMSON  |  MONDAY, 20 SEP 2021
... super accounts between 2015 and 2019. It is alleged the misconduct saw AMP pocket more than $600,000 in financial advice fees from 1540 customers despite having been notified that those customers had left their employer-sponsored super accounts and therefore ...

Super, ASIC beneficiaries of advice challenges: Hearing

JAMIE WILLIAMSON  |  FRIDAY, 30 JUL 2021
... Jacobsen responded. "There's an incentive for an accountant on an hourly rate to do more work." Wilson then asked how advice fees are aligned to clients' best interests, with Jacobsen saying the law is very clear on fee for service being the ...

AMP sued over corporate super misconduct

JAMIE WILLIAMSON  |  FRIDAY, 30 JUL 2021
... Planning and Hillross Financial Services. It is alleged the misconduct saw AMP pocket more than $600,000 in financial advice fees from 1540 customers despite having been notified that those customers had left their employer-sponsored super accounts and ...

AFA slams new SOA measures

KARREN VERGARA  |  WEDNESDAY, 7 JUL 2021
... association points to the regulators' joint letter dated June 30, which advised trustees to review SOAs with respect to new advice fees charged to members' superannuation accounts. AFA acting chief executive Phil Anderson argued that SOAs are an agreement ...

How likely is a super fund to fail YFYS test?

JAMIE WILLIAMSON  |  WEDNESDAY, 7 JUL 2021
... initial findings over an eight-year period looked at current strategic asset allocations and assumed administration and advice fees in line with the MySuper median fee.

Regulators warn trustees of super advice fee obligations

KARREN VERGARA  |  THURSDAY, 1 JUL 2021
... financial advisers must have the proper processes and systems in place to meet the new regulation. On 2 March 2021, the Advice Fees and Independence Act received Royal Assent, limiting the advice fee deductions from superannuation accounts as recommended ...

AAT dismisses adviser ban appeal

KARREN VERGARA  |  THURSDAY, 17 JUN 2021
... Hutchison was permanently banned from the industry in 2017 after an ASIC investigation found that he funneled clients' advice fees into his personal bank account and then deducted platform and financial product fees to repay RI Advice. The Administrative ...

AMP sued for charging dead clients

JAMIE WILLIAMSON  |  THURSDAY, 27 MAY 2021
... Federal Court action against AMP for allegedly charging more than 2000 deceased clients insurance premiums and financial advice fees after being notified of their death. The action relates to five companies that are or were subsidiaries of AMP between ...