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Showing 1 - 10 of 140 results for %22CBA business clients%22

Super, advice class actions dampen CBA results

KARREN VERGARA  |  WEDNESDAY, 15 FEB 2023
... rates well below the market so that for CFSIL could retain the margins for its own benefit. As ordered by the Federal Court, CBA will need to mediate this issue by 13 October 2023. The second class action relates to fees charged by the FirstChoice Fund. ...

Court dismisses CBA, CFS conflicted remuneration case

JAMIE WILLIAMSON  |  THURSDAY, 29 SEP 2022
... dismissed ASIC's case against Commonwealth Bank and Colonial First State in relation to the distribution of Essential Super. CBA staff signed up over 390,000 people to CFS's Essential Super between July 2013 and June 2019. Under an agreement ...

CFS targets adviser market

KARREN VERGARA  |  THURSDAY, 2 DEC 2021
... MySuper products. They're approximately 10% of our superannuation business," Bryce said. Commenting on the divestment, CBA chief executive Matt Comyn said: "The sale completion represents an important milestone in CBA's strategy to focus on its ...

Commonwealth Financial Planning to shutter

ELIZABETH MCARTHUR  |  TUESDAY, 26 OCT 2021
... Existing advisers and clients will have until November 30 to work out next steps, before Commonwealth FP shutters for good. CBA said the move is part of its partnership with AIA, following the sale of part of Commonwealth FP and 100% of CommInsure Life ...

New AIA advice unit names chief executive

KARREN VERGARA  |  FRIDAY, 30 JUL 2021
... Wisdom. AIA Financial Wellbeing will operate under a separate AFSL to AIA Australia, offering personal advice to customers of CBA with life insurance and wealth needs. Advice will be provided by salaried advisers and AIA will extend employment offers ...

Yarra Capital appoints managing director

ELIZABETH MCARTHUR  |  FRIDAY, 23 JUL 2021
... in the managing director role, based in Melbourne. Eason was most recently chief financial officer, enterprise services, at CBA where he had financial accountability for the Group's digital, technology and operations functions. Since 2017, Eason was ...

Court orders new group definition in CBA advice class action

KANIKA SOOD  |  WEDNESDAY, 23 JUN 2021
... Commonwealth Financial Planning and Financial Wisdom recommended their clients take out life insurance policies through former CBA subsidiary Commonwealth Mutual Life Assurance (now owned by AIA), when cheaper premiums for similar policies were available. ...

CBA launches JV for institutional tool

ANNABELLE DICKSON  |  MONDAY, 10 MAY 2021
... deliver insights that will underpin products and support and potentially automate insittutions' decision-making processes. CBA group executive of institutional banking and markets Andrew Hinchcliff said CommBank iQ will assist institutions in driving ...

ASIC takes NAB to court

KANIKA SOOD  |  THURSDAY, 25 FEB 2021
... it charged customers higher interest on overdraft fees than was disclosed to them. This went on for four years and netted CBA $2.2 million in extra interest payments, ASIC alleged. The CBA case is set for an April 6 hearing for court to make orders on ...

Challenger to buy industry-fund-owned bank

KANIKA SOOD  |  WEDNESDAY, 23 DEC 2020
... specialised loan products such as reverse mortgages. "CGF's current one-year term annuity rate is 1.04%. This compares to CBA's current one-year term deposit rate of 0.55%, so we anticipate demand could be high..." "When an adviser sells a term deposit ...
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