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Showing 701 - 710 of 2952 results for "August 2015"

Chief economist update: Inflation scare

BENJAMIN ONG  |  THURSDAY, 13 MAY 2021
Wall Street's down! All four US benchmark equity indices dropped overnight - the Dow by 1.99; the S&P 500 by 2.1%; the Nasdaq composite by 2.7%; and the Russell 2000 by 3.3%. The yield on 10-year US bonds increased to 1.70% from 1.62% the day before. ...

CBA adds $32m to advice remediation bill

KARREN VERGARA  |  WEDNESDAY, 12 MAY 2021
The Commonwealth Bank has upped its indemnity bill to $252 million for dodgy financial advisers who were part of its former subsidiary Count Financial. CBA sold off Count Financial to CountPlus in mid-2019. At the time, CBA provided $200 million in ...

APRA approves MLC super takeover

ELIZABETH MCARTHUR  |  FRIDAY, 7 MAY 2021
APRA has given IOOF the go-ahead to take over MLC's superannuation business. Yesterday, the regulator approved IOOF's application to hold a controlling stake in NULIS Nominees, the trustee for MLC Super. On 31 August 2020, IOOF entered into an agreement ...

AMP trims platform fees

KANIKA SOOD  |  THURSDAY, 6 MAY 2021
AMP Australia is reducing fees on its platforms, in a bid to attract more clients. Its flagship MyNorth wrap reduced administration fees by up to 22% effective May 1 for balances above $250,000. Administration fee caps for individuals are reducing by ...

AMP chair faces shareholder ire

KARREN VERGARA  |  FRIDAY, 30 APR 2021
AMP chair Deborah Hazelton has dodged heavy-hitting questions from shareholders who demanded transparency on the firm's failure to reign in chaotic leadership changes and why they are the last to know about significant announcements. Shareholders ...

Outflows continue at IOOF

KANIKA SOOD  |  THURSDAY, 29 APR 2021
IOOF ended March quarter with $203.9 billion in funds under management and administration, after significant outflows from advice and pensions business. The March end FUM was $1.5 billion higher than the previous quarter, and primarily driven by a $5.4 ...

CountPlus member firm to make acquisition

ANNABELLE DICKSON  |  TUESDAY, 27 APR 2021
The ASX-listed advice and accounting group has announced its member firm Kidmans Partners Wealth is acquiring the financial advice services of another member firm. Kidmans will pay $290,000 to Colgin Financial Services with $150,000 paid on completion ...

IOOF licensees to take remedial action

JAMIE WILLIAMSON  |  MONDAY, 26 APR 2021
IOOF will take remedial action to address deficiencies identified by ASIC within Bridges Financial Services and RI Advice Group. During surveillance in December 2020, ASIC found 15% of client files from Bridges and 17% of files from RI Advice contained ...

Former adviser pleads guilty over million-dollar super theft

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
Victorian-based Ahmed Saad has pleaded guilty after previously being charged with dishonestly obtaining financial advantage by deception for his role in an illegal retail superannuation scheme. ASIC alleges that Saad, while working as an authorised ...

Chief economist update: Australians all let us rejoice

BENJAMIN ONG  |  FRIDAY, 16 APR 2021
Australia is back! Back on track after its economy was cruelly interrupted by the COVID-19 pandemic. This space had been ranting about the virtuous cycle that had been circling around the nation since activity and business and consumer sentiment indicators ...