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Showing 941 - 950 of 6073 results for "Commission"

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 ...

Aged care expenditure to jump 37%

ALEX DUNNIN  |  TUESDAY, 11 MAY 2021
The aged care sector is set for a major boost to address problems raised in the Royal Commission and prepare for the coming wave of aging retirees. Aged care expenditure will increase 7% during 2021-22 to $24.3 billion and by 37% over the next four ...

Super gender gap widens for NSW women: ISA

KARREN VERGARA  |  TUESDAY, 11 MAY 2021
Women living in New South Wales will retire with $60,000 less superannuation than men. This is according to Industry Super Australia, which found that median balance for women in NSW sits at $48,700, falling behind the national median of $49,300 for ...

APRA approves MLC super takeover

ELIZABETH MCARTHUR  |  FRIDAY, 7 MAY 2021
... the regulator found concerns it was not always considering members' best interests as the highest priority. The Royal Commission formed the view that NULIS' decisions in regard to moving certain groups of members into MySuper products, grandfathering ...

Super fund advice not useful: Research

JAMIE WILLIAMSON  |  THURSDAY, 6 MAY 2021
While 50% of Australians expect superannuation funds to advise them on retirement, only 16% of those who have sought advice from their fund believe it was useful. That's a key finding of UK fintech Smart's The future of global retirement report, looking ...

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 ...

ASIC not recommending general advice change

JAMIE WILLIAMSON  |  WEDNESDAY, 5 MAY 2021
... move is unlikely to prevent consumer confusion. Both the Financial System Inquiry's final report and Productivity Commission Inquiry Report into Competition in the Australian Financial System recommended the re-labelling of general advice to prevent ...

Chief economist update: COVID-19 causes double-dip

BENJAMIN ONG  |  MONDAY, 3 MAY 2021
... average of €120B in the five years pre pandemic". And why shouldn't they be? There's money from the European Commission (EC). It has approved the "NextGenerationEU" package - worth €750 million - "to help repair the economic and social damage ...

Former Australian Unity adviser banned

JAMIE WILLIAMSON  |  THURSDAY, 29 APR 2021
A former authorised representative of Australian Unity Personal Financial Services was handed a five-year ban for telling clients MySuper options are more expensive and to opt out of the products. Christopher Chan will serve a five-year ban for writing ...

Deborah Ralston to advise Allianz Retire+

KANIKA SOOD  |  THURSDAY, 29 APR 2021
Retirement Income Review panel member Deborah Ralston has joined an advisory panel set up by Allianz Retire+, which will also include Nicolette Rubinsztein. Allianz Retire+ has offered its retirement income products, Future Safe to the retail market ...