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Showing 61 - 70 of 237 results for "Magnitude"

APRA joins in on Westpac scrutiny

ELIZA BAVIN | TUESDAY, 17 DEC 2019

... Executive Accountability Regime (BEAR) - or contravened APRA's prudential standards," the regulator said. "Given the magnitude and nature of the issues alleged by AUSTRAC, APRA is aiming to ensure that fundamental deficiencies in Westpac's risk management ...

Adviser moves show industry upheaval

ELIZABETH MCARTHUR | TUESDAY, 5 NOV 2019

... spokesperson said advice services for members have remained unchanged. Former Westpac-aligned dealer groups Securitor and Magnitude ceased during the period, with advisers choosing to exit or move to other licences. In August, Financial Standard reported ...

Down but not out: Top advisers adapt

ELIZABETH MCARTHUR | MONDAY, 26 AUG 2019

... February - the most of any licensee. Securitor shed 146 advisers over the same period, bringing its total to just 85. Magnitude lost 79 advisers, going from 116 to just 37. Viridian picked up 76, after buying 90 advisers from Westpac. While Lifespan ...

Instos flex influence over investee companies

KARREN VERGARA | THURSDAY, 27 JUN 2019

... financially constrained, Monash professor of finance Chris Veld said. "A sizeable number of investors argue that the magnitude of their shareholdings in the firm determines their channel of influence," he said. While this is expected, larger shareholdings ...

Financial advice drags BTFG results

KARREN VERGARA | MONDAY, 6 MAY 2019

... its salaried financial planners. About 28% is estimated to be refunded. Authorised representatives from Securitor and Magnitude on the other hand received $966 million, but 31% will likely be refunded. A total of $200 million in compensation has been ...

Westpac reveals Magnitude, Securitor adviser remediation

HARRISON WORLEY | WEDNESDAY, 1 MAY 2019

Westpac is set to repay more than 30% of the ongoing advice service fees charged by authorised representatives of Magnitude and Securitor. Westpac announced it would take a $357 million hit to cash earnings in its first half result based on currently ...

Chief economist update: A question of when?

BENJAMIN ONG | THURSDAY, 28 MAR 2019

... Kaplan (nonvoter) told the WSJ the recent yield-curve inversion could be a signal to lower rates, but depends on its magnitude and duration (perhaps months) and "we're not there yet" certainly echoes what I penned only three days before Woe to the ...

Westpac exits personal advice, restructures leadership

JAMIE WILLIAMSON | TUESDAY, 19 MAR 2019

... authorised representatives attached to its AFSL. The sale is expected to be complete by June 30, and some Securitor and Magnitude authorised representatives may also move to a newly-established Viridian-owned AFSL. They have until September 30 to do ...

Banks, ASIC still at war over fees-for-no-service

HARRISON WORLEY | TUESDAY, 12 MAR 2019

... bank's offer was chided by the regulator for also failing to meet the RG256 guidance. Westpac licensees Securitor and Magnitude and NAB's JBWere also copped heat, with both institutions' report cards littered with instances where the three licensees ...

Chief economist update: Prepare for lift-off

BENJAMIN ONG | MONDAY, 11 MAR 2019

... growth. Thanks to its semi-peg (dirty float?) versus the US dollar, China's currency didn't suffer the similar magnitude of depreciation as its emerging market peers. But no thanks. Being a crosshair of Trump's trade rifle, China's economy ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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