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Showing 81 - 90 of 219 results for "Advice fees"

ASIC takes action against BTFM, Asgard, StatePlus

JAMIE WILLIAMSON  |  THURSDAY, 20 AUG 2020
... providing advice. It also said that BT, as trustee of superannuation products, issued account statements that purported no advice fees were being charged. The 'adviser fee' line was removed but an amount equal to the fee was added to overall ...

Macquarie to transfer legacy pension product

KANIKA SOOD  |  MONDAY, 10 AUG 2020
... commission currently paid will no longer be paid. Members with advisers will be able to authorise relationships to pay advice fees. Any current, valid death benefit nominations will be transferred over to the Pension Manager, where the nomination type ...

ASIC appeal upheld

ALLY SELBY  |  MONDAY, 20 JUL 2020
... financial product or service is sufficient for the prohibitions to apply". The conduct included double charging clients advice fees, as well as receiving payments for advice directly into his bank account when Hutchison knew he was obliged to pay them ...

VicSuper disputes fee hike claim

HARRISON WORLEY  |  WEDNESDAY, 10 JUN 2020
The $23 billion industry superannuation fund has responded to a claim its members will face increased financial advice fees upon its mega-fund merger with First State Super. Following reports in the Australian Financial Review that internal documents ...

Advisers involved in ERS scams: ASIC

ELIZABETH MCARTHUR  |  WEDNESDAY, 20 MAY 2020
... schemes are far from free," she said. "They typically erode a member's superannuation balance by $500 to $1000 in advice fees that are deducted directly from their account. We have also seen advisers charge a 4% fee based on the consolidation amount." ...

IOOF, CountPlus, Iress want better path to fee consent

ELIZABETH MCARTHUR  |  FRIDAY, 24 APR 2020
... superannuation trustees to be satisfied that consent for ongoing service has been given to the adviser before deducting advice fees via a platform. There have been concerns in the financial advice industry that the legislation will create much more administrative ...

Seek financial advice: Hume

ELIZABETH MCARTHUR  |  WEDNESDAY, 22 APR 2020
... relief will allow advisers to give clients guidance on early release of super without doing a statement of advice but advice fees on the stimulus measures will be capped at $300. The early release of super for those who are suffering financially as a ...

MLC changes super fees, adds menu

KANIKA SOOD  |  WEDNESDAY, 11 MAR 2020
... Stevens said. During the Royal Commission, it was revealed that MLC's Master had charged $67 million in general advice fees to MLC's MasterKey Personal Super products, despite the fact not all members were told clearly they could opt out of the ...

Lack of independence must be made clear: ASIC

ELIZA BAVIN  |  TUESDAY, 10 MAR 2020
... explaining "simply and concisely" why they are not independent, impartial and unbiased; if ASIC's draft recommendations for advice fees are adopted. The purpose, ASIC said, is to ensure financial advisers' lack of independence is brought to the clients ...

Advice groups criticise rushed legislation

ELIZABETH MCARTHUR  |  WEDNESDAY, 4 MAR 2020
... Australians. The AFA released its submissions to Treasury on ongoing fee arrangements and disclosure of lack of independence, advice fees in super and strengthening breach reporting. "The AFA is concerned that what has been proposed with annual renewal ...