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Showing 1 - 10 of 54 results for "NAB Financial Planning"

NAB tops bad advice compensation bill

KARREN VERGARA  |  TUESDAY, 15 FEB 2022
... bill has hit more than $1.2 billion - the highest liability among the major financial institutions. While NAB Financial Planning and NAB Private Wealth have remediated most of this amount with respect to fees for no service misconduct, NAB's former ...

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
... impacted. "To address this issue, NAB stopped charging ongoing service fees to customers of its former NAB Financial Planning business in 2019. In 2020, we established a remediation program which has to date paid approximately $31 million to more than ...

NAB adds to wealth client remediation

ANNABELLE DICKSON  |  FRIDAY, 23 OCT 2020
... wealth remediation is a result of non-compliant advice given to customers, adviser service fees charged by NAB Financial Planning, ongoing liabilities NAB has responsibility for following the sale of MLC Wealth and remediation for MLC Life. The bank ...

MLC launches new advice business

JAMIE WILLIAMSON  |  MONDAY, 25 MAY 2020
... GWM Adviser Services. It will stand alongside Godfrey Pembroke, MLC Connect and salaried adviser business NAB Financial Planning, which will soon be rebranded to MLC Advice. According to an MLC spokesperson, there is currently 81 advisers attached to ...

Former licensee head in new role

JAMIE WILLIAMSON  |  WEDNESDAY, 6 MAY 2020
... working across Westpac and BT Financial Group. He has also previously held roles with Macquarie, AMP, AXA and NAB Financial Planning. MLC also confirmed the appointment of Cristian Zanetti as head of advice experience centre, Sydney and central advice. ...

NAB remediation bill grows

ELIZABETH MCARTHUR  |  MONDAY, 20 APR 2020
... relates to additional provisions required for existing remediation matters. Adviser service fees charged by NAB Financial Planning salaried advisers were highlighted by the bank as a driver of remediation costs. The assumed refund rate for these customers ...

MLC transforms advice business

KARREN VERGARA  |  THURSDAY, 15 AUG 2019
... Apogee and Meritum brands. The group will exit the self-employed franchise models of MLC Advice Stores and NAB Financial Planning. A simpler pricing model between MLC and advice business owners will be introduced, Lloyd said, which provides more optionality ...

MLC Wealth shuffles leadership

HARRISON WORLEY  |  THURSDAY, 25 JUL 2019
... growth in funds under management from about $70 billion to over $200 billion. Current general manager of NAB Financial Planning and NAB Direct Advice Tim Steele has also been promoted, and will assume the role of group executive, retirement and investment ...

NAB remediation bill hits $1.1bn

JAMIE WILLIAMSON  |  THURSDAY, 18 APR 2019
... provisions include non-compliant advice provided to its wealth customers; adviser service fees charged by NAB Financial Planning salaried advisers; and adviser service fees charged by NAB Advice Partnerships advisers. In fact, misconduct within its wealth ...

Banks, ASIC still at war over fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
... of Count Financial, Financial Wisdom and the Pathways division of CFPL would continue. NAB's review of NAB Financial Planning and its associated remediation payments are due for completion by the end of this year, while the review and remediation programs ...
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