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

Search Results

Showing 71 - 80 of 94 results for "Advice clients"

NAB upgrades advice compensation program

LAURA MILLAN  |  THURSDAY, 21 MAY 2015
... established." He also questioned the fact that NAB has not put in place a comprehensive compensation program for its advice clients, similar to the ones that Commonwealth Bank and Macquarie Group have undertaken, "I have no reason to not believe it when ...

NAB to take "leading role" in advice remediation

ALEX BURKE  |  WEDNESDAY, 22 APR 2015
... said that NAB would be "revisiting" Coulston's compensation, and would be lifting gag orders on other former NAB advice clients to encourage transparency. Thorburn agreed that NAB's financial advice arm was "accountable" for not meeting its "own standards" ...

ANZ sets up $30m compensation program for advice clients

LAURA MILLAN  |  THURSDAY, 16 APR 2015
ANZ will reimburse $30 million to clients of its financial planning business who did not get the annual reviews promised as part of the bank's advice and investment service. About 8,500 Prime Access clients will be reimbursed, ANZ confirmed in a statement. ...

Medcraft addresses ASIC's NAB response

ALEX BURKE  |  THURSDAY, 26 FEB 2015
... Legislation Committee, ASIC chair Greg Medcraft addressed the recent media coverage of NAB Wealth's compensation to its advice clients. "We have started our information gathering from NAB Wealth using our formal legal powers. And the bank has been cooperative. ...

NAB chief executive outlines misconduct policy changes

ALEX BURKE  |  TUESDAY, 24 FEB 2015
... Despite the recent revelation that NAB had paid between $10 million and $15 million in compensation to its financial advice clients, Thorburn noted that the bank had a "relatively low" 0.2% complaint ratio. He added that NAB was "the first to lead with ...

NAB denies failing advice clients

ALEX BURKE  |  MONDAY, 23 FEB 2015
NAB Wealth has responded to media allegations of professional misconduct. After Fairfax Media published reports suggesting "forgery" and "rogue advisers" were rife within NAB's financial advice arm, NAB Wealth group executive Andrew Hagger said in a ...

Law firm targets disgruntled advice clients using Twitter

LAURA MILLAN  |  FRIDAY, 20 FEB 2015
Legal firm Slater and Gordon is using Twitter to ask financial planning clients if they are satisfied with the advice that they have received, and encouraging them to "do something about it." "Do you have concerns about the quality of financial advice ...

FEATURE: 2014 year in review

MARK SMITH, LAURA MILLAN, JAMES FERNYHOUGH  |  FRIDAY, 12 DEC 2014
... recommendations. Since then, CBA has started the Open Advice Review program to review the advice of all of its advice clients from 2003 to 2012. The bank has so far appointed a number of independent experts. But its most groundbreaking decision was to ...

FPA rejects FSC adviser regulation plans

ALICE URIBE, LAURA MILLAN  |  WEDNESDAY, 24 SEP 2014
... for more clarity about the funding of the body raising concerns that any additional costs could be passed onto advice clients. "We need more detail around funding. We need a clear explanation of the funding needs to ensure this won't be an obstacle for ...

Greens slam CBA executives pay rise

LAURA MILLAN  |  TUESDAY, 19 AUG 2014
... provision is for the compensation scheme," he said. The Open Advice Review program is open to all CBA financial advice clients from 2003 to 2012. The compensation process was set up following an exhaustive Senate inquiry into the Australian Securities ...