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Advice group convicted of hawking

JAMIE WILLIAMSON  |  WEDNESDAY, 22 FEB 2023
National Advice Solutions was convicted in a Queensland court for cold-calling consumers and trying to convince them to switch their super fund, copping a $70,000 fine. National Advice Solutions' AFSL was cancelled in December and its two responsible ...

MAX Awards 2023: Nominations open

CASSANDRA BALDINI  |  TUESDAY, 21 FEB 2023
... Now in their 29th year, the Financial Standard MAX Awards recognise the individuals, teams and organisations that are at the top of their game across marketing, advertising and sales in the financial services industry. Those working in financial services ...

Adviser pay, incentives disparity revealed

KARREN VERGARA  |  FRIDAY, 17 FEB 2023
... more years of experience and living in New South Wales ($153,668), Victoria ($150,333) and Queensland ($153,774) sit in the top bracket. The report, Swimming at the end of the talent pool, reveals their counterparts in South Australia, Western Australia ...

ASIC dodges PGPA investigation questioning

CASSANDRA BALDINI  |  THURSDAY, 16 FEB 2023
... past two years?" Longo then directed the question to general counsel Chris Savundra who said he couldn't be sure "off the top of his head." "It's a large Act, I want to make sure they answer correctly," Savundra explained. Bragg wasn't convinced ...

Former Big Un chief charged with insider trading

CASSANDRA BALDINI  |  WEDNESDAY, 15 FEB 2023
... First Class Capital, which allowed customers to make this purchase on deferred payment terms. In 2017, Big Un was one of the top-performing shares listed but it publicly unravelled when information about its funding arrangement with First Class Capital ...

Netwealth reports significant growth

ANDREW MCKEAN  |  WEDNESDAY, 15 FEB 2023
... notifications, like minimum cash balances, Netwealth said. Netwealth managing director Matt Heine commented: "For advisers, staying on top of clients' super and investment accounts is a critical part of their daily activities." "From monitoring corporate ...

Cboe Australia chief exits, successor named

KARREN VERGARA  |  WEDNESDAY, 15 FEB 2023
... Cboe Australia appointed a new chief executive, with the incumbent stepping down at the end March. Vic Jokovic vacates the top job on 31 March 2023 and will be succeeded by AllianceBernstein executive Emma Quinn, who will assume the title of Cboe Australia ...

Lazard Asset Management slashes fund fees

CHLOE WALKER  |  MONDAY, 13 FEB 2023
... class reduced from 0.75% p.a. to 0.70% p.a. "These two funds, alongside the Lazard defensive Australian Equity Fund where the top three performing Australian equity funds over 2022, according to third party data," Lazard Asset Management said. "All three ...

Things to watch this reporting season: Morningstar

ANDREW MCKEAN  |  MONDAY, 13 FEB 2023
... won't fully reflect in our economy before early 2024," Faul said. Accordingly, there are two overarching themes worth keeping top of mind during reporting season: the shifting demand-supply dynamics and the momentum of cost inflation. With these metrics ...

Inflation expected to have peaked: RBA

ANDREW MCKEAN  |  FRIDAY, 10 FEB 2023
... market conditions are expected to reduce domestic inflationary pressures. As such, inflation is forecast to decline to the top of the 2-3% target band over coming years, the RBA said. Meanwhile, the RBA forecast that economic growth is expected to slow ...