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

Search Results

Showing 81 - 90 of 769 results for "AFSL"

Advice group convicted of hawking

JAMIE WILLIAMSON  |  WEDNESDAY, 22 FEB 2023
... 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 managers, Gail Glasby and Paul Carcallas, were both banned by ASIC for 10 ...

Financial Circle director convicted, fined

CHLOE WALKER  |  TUESDAY, 21 FEB 2023
... involvement in two companies - FP Investment Partners and Equilibrium FS - that were both closed down. Financial Circle's AFSL and credit licences were cancelled by in November 2018 after it was fined $9 million. The fine followed the firm being ...

ACCC blitzes social media influencers

ANDREW MCKEAN  |  MONDAY, 30 JAN 2023
... chief executive and managing director Arian Neiron said: "Our conclusion is that investors want to see finfluencers with an AFSL." "They [investors] want assurance that product recommendations are coming from experts that have genuine understanding of ...

Adviser population dropped 17% in 2022

JAMIE WILLIAMSON  |  FRIDAY, 13 JAN 2023
... represent four of the 10 fastest growing AFSLs, with Count Financial topping the ranks on this front. The fastest contracting AFSL remains the SMSF Adviser Network, losing almost 400 advisers in 2022.

AAT upholds AFSL cancellation

CHLOE WALKER  |  THURSDAY, 12 JAN 2023
The Administrative Appeals Tribunal (AAT) has supported ASIC's decision to cancel the AFSL of Olive Financial Markets Pty Ltd (Olive). Between 2013 and 2018, Olive operated both a managed discretionary account (MDA) service and a superannuation rollover ...

Morningstar to introduce new rating system

JAMIE WILLIAMSON  |  WEDNESDAY, 11 JAN 2023
Morningstar Australasia is looking to scale its ratings universe, introducing the new Morningstar Medalist Rating. From May, the Medalist Rating will replace the Analyst Rating depicted by gold, silver and bronze medals. The aim, Morningstar says, is ...

ASIC confirms advisers can offer home equity access guidance

ANDREW MCKEAN  |  TUESDAY, 10 JAN 2023
... for clients. "Given the similarities between the HEAS and a reverse mortgage, many Australian Financial Service Licence (AFSL) holders had expressed caution about advising directly on the scheme, as it may have required an Australian Credit Licence (ACL) ...

ASIC abandons $500k SMSF threshold

ANDREW MCKEAN  |  FRIDAY, 9 DEC 2022
ASIC has updated guidance on SMSF advice, deciding to remove $500,000 as an indicator of the "appropriateness of advice" to establish a SMSF. ASIC hasn't opted to nominate a minimum threshold but said fund expenses are proportionality higher, and net ...

ASIC suspends, cancels AFSLs

CHLOE WALKER  |  WEDNESDAY, 7 DEC 2022
The corporate regulator suspended Quantum Funds Management Limited (QFML)'s AFSL and cancelled that of AFSL Group. The suspension of QFML follows the ban of its managing director Peter Gribble for failing to pay $2.5 million in Australian Financial ...

Financial advice among most qualified professions: Analysis

JAMIE WILLIAMSON  |  TUESDAY, 6 DEC 2022
... followed by the SMSF Advisers Network (75%) and Morgans Financial (70%). The median across all AFSLs was 57%. As for the AFSL with the most advisers who have attained specialist ethics qualifications, AMP Financial Planning comes out on top with 49%. ...