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Financial Planning

ASIC drags former adviser to court

HARRISON WORLEY  |  THURSDAY, 17 OCT 2019
A former financial adviser with a 25-year ban from the profession is facing court for allegedly using almost $2 million in client funds for his own benefit.

ASIC grants compliance scheme relief

HARRISON WORLEY  |  WEDNESDAY, 16 OCT 2019
ASIC will grant AFS licensees with relief from the obligation to ensure their financial advisers are covered by a compliance scheme.

ASIC using intimidation tactics on grandfathering: AIOFP

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
ASIC is using intimidation tactics to get product providers to shut down grandfathered commissions early, according to the Association of Independently Owned Financial Professionals (AIOFP).

Stanford Brown eyes expansion

KANIKA SOOD  |  TUESDAY, 15 OCT 2019
The private wealth firm is gearing up to add to its offering, chief executive Jonathan Hoyle says.

Grandfathered commissions ban passes

ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
The legislation that will end grandfathered commissions has passed both houses of federal parliament. Under the reforms, the benefit of any conflicted remuneration payable under a contract must be passed on to the client.

AMPFPA selects law firm

JAMIE WILLIAMSON  |  TUESDAY, 15 OCT 2019
The AMP Financial Planners Association has appointed a high-profile law firm to explore legal options available to its members following AMP's decision to alter its Buyer of Last Resort policy.

Code monitoring move disappoints industry

ELIZABETH MCARTHUR  |  MONDAY, 14 OCT 2019
Treasurer Josh Frydenberg and Assistant Minister Jane Hume announced the government will accelerate its implementation of the Royal Commission's recommendation to establish a single disciplinary body for financial advisers.

AMP combines business units, appoints new boss

KANIKA SOOD  |  THURSDAY, 10 OCT 2019
AMP Limited has announced it is combining its Australian wealth management business with banking into a new entity named AMP Australia, and has shuffled its C-suite lineup.

FASEA exam dates revealed

ELIZABETH MCARTHUR  |  WEDNESDAY, 9 OCT 2019
The Financial Adviser Standards and Ethics Authority provided an update on the exam all financial advisers must sit.

Former NAB adviser sentenced

HARRISON WORLEY  |  TUESDAY, 8 OCT 2019
A former NAB financial adviser has been sentenced for withdrawing funds from the accounts of clients without their knowledge, but will avoid jail time.