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Showing 931 - 940 of 2942 results for "L1 Group"

iProsperity accused of being a Ponzi scheme

ELIZABETH MCARTHUR  |  FRIDAY, 14 AUG 2020
The administrator appointed to embattled investment group iProsperity, Cor Cordis, has released a damning creditors' report which includes accusations of Ponzi scheme style payments. The report suggests investor money was misappropriated by iProsperity ...

Magellan readies lower-cost funds

KANIKA SOOD  |  WEDNESDAY, 12 AUG 2020
Magellan is readying a new low-cost lineup of its strategies for retail investors, as it reports 5% higher net profit after tax of $395.2 million for FY20. The Magellan Core series will kick off as open-ended funds on Chi-X (so far its ETFs use ASX ...

AMP, CBA, Westpac face potential class action

ELIZA BAVIN  |  TUESDAY, 11 AUG 2020
The financial advice arms of AMP, Commonwealth and Westpac are all facing a potential class action from law firm Piper Alderman. The law firm is calling on any customers who have acquired, renewed or continue to hold a financial product on recommendation ...

Advice firm awarded international certification

ELIZABETH MCARTHUR  |  MONDAY, 10 AUG 2020
Shadforth Financial Group has achieved the international fiduciary certification following an assessment by the Centre for Fiduciary Excellence. Shadforth is now one of just seven Australian advice firms to have the certification. "Advice relationships ...

OneVue to take Taiping to court

KANIKA SOOD  |  THURSDAY, 6 AUG 2020
OneVue will file court proceedings against Taiping Trustees to assert its right to about $9.4 million sale proceeds of Madison Financial Group and Sequoia shares. The ASX-listed company said its preference is still to resolve the matter out of courts ...

AFCA creates new role

ANNABELLE DICKSON  |  TUESDAY, 4 AUG 2020
The Australian Financial Complaints Authority (AFCA) has appointed Campbell Daff to the newly created position of head of membership services. Daff has significant experience in the design and delivery of membership value and service propositions and ...

Magellan to restructure retail global equities funds

KANIKA SOOD  |  MONDAY, 3 AUG 2020
Magellan is seeking unitholder approval to create a mega fund of $15 billion that would combine the investment pools of the unlisted, ETF and LIT versions of the Magellan Global Fund. Magellan will create a single trust and issue two unit classes - ...

Hobart adviser cops ban

ALLY SELBY  |  WEDNESDAY, 29 JUL 2020
ASIC has banned a Hobart-based financial adviser from providing financial services for five years after he encouraged clients to inappropriately double gear their investments. Meritum Financial Group authorised representative David Horton has been banned ...

Life insurance needs to prove value

ANNABELLE DICKSON  |  WEDNESDAY, 29 JUL 2020
Life insurance claims paid out billions of dollars to Australians last year. However, the industry needs to focus on creating awareness for its members as it is faced with negative sentiment, specifically around group insurance, the FSC Life Insurance ...

Fund manager outflows spread into June quarter

KANIKA SOOD  |  THURSDAY, 23 JUL 2020
Outflows at ASX-listed funds management businesses like Pendal, Platinum and Perpetual slowed in June quarter but continued, with Magellan the only one in net inflows. Pendal Group reported net outflows of $2.5 billion in June quarter, followed by $723 ...