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Showing 71 - 80 of 273 results for "Statement of Advice"

Super scammer permanently banned

ELIZABETH MCARTHUR  |  MONDAY, 15 FEB 2021
... from bank accounts holding client funds. ASIC alleged that he directed an employee to construct a back-dated statement of advice in response to an investigation being conducted following a complaint. McSweeny was found unfit to stand trial on 11 February ...

The barriers to limited advice: Licensees

ANNABELLE DICKSON  |  MONDAY, 11 JAN 2021
... "But any guidance that would give an adviser and the licensee more confidence that they can speak freely in a statement of advice, record of advice or a document, that's actually a separate issue," Dummett added. Lifespan chief executive Eugene Ardino ...

Challenger to buy industry-fund-owned bank

KANIKA SOOD  |  WEDNESDAY, 23 DEC 2020
... demand could be high..." "When an adviser sells a term deposit (or rolls it over), they can do so without a statement of advice (SOA), that is it can be execution only. Whereas with an annuity an SOA is needed for new sale and rollover. This removes ...

Praemium improves on-boarding

KARREN VERGARA  |  WEDNESDAY, 18 NOV 2020
... means the double entry of client information has been removed, and the time it takes advisers to complete a Statement of Advice and application form have been reduced. Praemium chief commercial officer Mat Walker commented: "Praemium is continually looking ...

Cost of advice soars as red tape grows

ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
With research showing the average cost for a Statement of Advice has increased 10% in 12 months, the Financial Planning Association of Australia (FPA) is warning of the detrimental impact ongoing reform is having on financial advisers and consumers. ...

Sam Henderson sentenced

ELIZABETH MCARTHUR  |  TUESDAY, 20 OCT 2020
... employees impersonating a client to a superannuation fund. The commission found that same client was given a statement of advice by Henderson which contained a recommendation that she leave her super fund and establish an SMSF - the recommendation would ...

ASIC extends advice, capital raising provisions

ANNABELLE DICKSON  |  THURSDAY, 24 SEP 2020
... advice fees regarding ERS at $300, allowing advisers to provide a record of advice rather than a comprehensive statement of advice in this circumstance until 15 April 2021 rather than October 15. In addition, ASIC has extended its 'no-action' position ...

Sam Henderson pleads guilty

ELIZABETH MCARTHUR  |  TUESDAY, 25 AUG 2020
... employees impersonating a client to a superannuation fund. The commission found that same client was given a statement of advice by Henderson which contained a recommendation that she leave her super fund and establish an SMSF - the recommendation would ...

Super for women under scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 2 JUL 2020
... least if a consumer went to a bank or AMP-aligned financial planner pre-Royal Commission they would receive a Statement of Advice." Lusher is concerned that coaches may not have the same level of accountability as professional financial advisers when ...

FPA accuses ASIC of price gouging

ELIZA BAVIN  |  MONDAY, 15 JUN 2020
... the period for giving Statements of Advice and relief to allow a Record of Advice to be given instead of a Statement of Advice in certain circumstances. De Gori said the industry was not consulted on the decision, and had been a big help for Australians ...