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Showing 51 - 60 of 137 results for "Advice licensee"

IOOF advice outflows soar

ANNABELLE DICKSON  |  THURSDAY, 29 JUL 2021
The wealth manager recorded significant outflows in its financial advice business as advisers departed following its transformation strategy. Financial advice recorded $2.2 billion in outflows from 33 advisers departing from IOOF's self-employed advice ...

AFA slams new SOA measures

KARREN VERGARA  |  WEDNESDAY, 7 JUL 2021
The Association of Financial Advisers has hit back at ASIC and APRA for causing "confusion" and "interfering" with financial advice as they look to introduce new changes to Statements of Advice. The association points to the regulators' joint letter ...

AMP trims platform fees

KANIKA SOOD  |  THURSDAY, 6 MAY 2021
... colleague. "These are highly competitive and transparent fees, which we have introduced as a response to the use of advice licensee or advice practice rate cards by many in the industry, which we see as distorting the system and creating member equity ...

Adviser numbers at five-year low

KARREN VERGARA  |  FRIDAY, 23 APR 2021
... the number of advisers dropped 11% at the end of March 2021. The SMSF Advisers Network is currently the largest advice licensee, followed by AMP Financial Planning, Morgans, Synchron and Charter. Over the course of 12 months, GWM Adviser Services welcomed ...

Banks should pay advice exit levy: TAA

ANNABELLE DICKSON  |  THURSDAY, 18 MAR 2021
... increase by the equivalent of 160% over two years. A sole practitioner will be required to pay $3926 while a retail advice licensee will be charged $1500 per licence and an additional $2426 per authorised representative. TAA is pushing for the government ...

MLC Life appoints retail general manager

KANIKA SOOD  |  MONDAY, 8 MAR 2021
MLC Life Insurance has appointed a general manager for retail distribution partnerships, as the incumbent leaves. Michael Downey is moving into the role that reports directly to MLC Life Insurance chief executive Michael Rogers effective March 22. The ...

IOOF to spend big on BOLR

KANIKA SOOD  |  THURSDAY, 25 FEB 2021
IOOF expects to spend up to $32 million on paying out Buyer of Last Resort arrangements with financial advisers leaving its network, primarily from Bridges Financial Services. At its half year results yesterday, IOOF reported an expected BOLR spend ...

HUB24 lifts inflows, profit flat

ANNABELLE DICKSON  |  TUESDAY, 23 FEB 2021
... March 2021. In addition, HUB24 anticipates a proportional takeover of Easton and the divestment of its financial advice licensee, Paragem, to be completed in the second half. As a result of the activity, HUB24 has increased the platform FUA target. "Given ...

ASIC consults on consumer remediation

ELIZABETH MCARTHUR  |  THURSDAY, 3 DEC 2020
ASIC has released a consultation paper to update the regulatory guide on client review and remediation conducted by financial advice licensees. Regulatory Guide 256: Client review and remediation conducted by advice licensees will be clarified through ...

Dealer group chief executive departs

ELIZABETH MCARTHUR  |  TUESDAY, 24 NOV 2020
The chief executive of an IOOF dealer group has departed as part of the group's restructure after it acquired MLC Wealth. Geoff Kellett has departed Financial Services Partners after two years as chief executive, with IOOF moving towards shuttering ...