The latest issue of Financial Standard now available as an e-newspaper
|Search Results||Showing 1 - 10 of 25 results for "BOLR"|
|... seen the value of their businesses decimated by the group's decision to no longer honour their Buyer of Last Resort (BOLR) agreements . ASIC currently has five investigations into AMP ongoing and has briefed the Commonwealth Director of Public Prosecutions ...|
|... relation to the institution's decision to slash Buyer of Last Resort valuations last year. Almost one year on from the news BOLR valuations would be cut from 4x recurring revenue to a maximum of 2.5x, Corrs Chambers Westgarth filed an open class ...|
|Senator Deborah O'Neil has revealed she was told by ASIC that AMP's Buyer of Last Resort (BOLR) agreements being altered and subsequently slashing the value of advice businesses was not a priority for the regulator. In a letter to the chair of the Parliamentary ...|
|... a Senator to look into AMP's treatment of financial advisers, including reducing the value of its Buyer of Last Resort (BOLR) agreements. Labor senator for NSW Deborah O'Neill has written to ASIC chair James Shipton, urging him to investigate the AMP ...|
|... Resort agreements De Ferrari chose not to get too specific. He confirmed about 260 practices are seeking to enact their BOLR agreement but did not say at what level those BOLR agreements would be honoured. "We are setting funds aside to meet our BOLR ...|
|... claims In early August AMP announced its plans to reshape its advice offering, including the highly contentious changes to BOLR terms (more detail below). Shortly after, the then-head of AMP's advice business, Alex Wade told Financial Standard AMP ...|
|... Following on from AMP's decision earlier this year to restructure its advice business and slash Buyer of Last Resort (BOLR) multiples, financial advisers who were given their notice by the institution have been given an additional month to consider ...|
|... Cook says that by November, 2016 she had become aware that AMP Group companies had charged fees to orphan customers in its BOLR pool fees without providing services to them. She also claims that as of that date, she was aware that companies in the AMP ...|
|... High Court action could assist the AMPFPA in its legal challenge, due to the impact the end of grandfathering will have on BOLR valuations particularly since AMP's policy changed in August. "BOLR changes are all based on grandfathered commissions ...|
|... battle with AMP Financial Planning over its decision to change its Master Terms in regards to business valuations under the BOLR policy without notice or consultation. Speaking to Financial Standard shortly after the announcement, AMP's then-group ...|
Schroders has hired from RBC to appoint a head of private debt for Australia, as it builds out a private assets offering for local investors.
The administrator appointed to embattled investment group iProsperity, Cor Cordis, has released a damning creditors' report which includes accusations of Ponzi scheme style payments.
Reserve Bank of Australia governor Philip Lowe said the legislated increase to the superannuation guarantee will impact wage growth and the government will need to weigh up the impacts of that.
National Australia Bank has reported a 7% fall in cash earnings to $1.55 billion for the third quarter, as the bank confirms it is still "actively exploring" options for the sale of its wealth management business.
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