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Financial Planning

AMP's buyer of last resort measures scrutinised

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
AMP has admitted that its Buyer of Last Resort measures, up until June 2017, were designed to incentivise financial advisers to show preference for its in-house platforms.

AMP executive 'apologises' for advice failings

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
AMP's group executive, advice and New Zealand used his appearance at the Royal Commission public hearing to apologise on behalf of the group for failings in the provision of financial advice.

Commonwealth Bank refunding millions in fees for no service

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
In its three submissions to the Royal Commission, Commonwealth Bank has admitted to at least $118.5 million of fee for no service misconduct.

ANZ issues last minute RC submission correction

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
ANZ issued a correction to its submissions to the Royal Commission over the weekend ahead of the next fortnight's hearings on financial advice.

ASIC lifts licence conditions on CountPlus subsidiary

KANIKA SOOD  |  MONDAY, 16 APR 2018
ASIC has lifted the licence conditions it imposed on a CountPlus subsidiary after it paid $2.5 million in remediation to its clients following a compliance issue in 2015.

Alternative finance the option for millennials

DARREN SNYDER  |  MONDAY, 16 APR 2018
Financial advisers managing millennial money must plan for larger exposure to alternative finance options as the generation tops Australia's user list of online lending products.

AMP admits to serious misconduct in RC submissions

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
AMP has acknowledged hundreds of instances of misconduct in relation to the provision of financial advice between 1 January 2008 and 30 June 2015.

Advisers no longer standing still on social media

DARREN SNYDER  |  MONDAY, 16 APR 2018
Financial advisers are no longer sitting on their hands when it comes to social media, using various platforms to have the most meaningful conversations with clients.

Netwealth sells Pathway

JAMIE WILLIAMSON  |  FRIDAY, 13 APR 2018
Netwealth has offloaded its Pathway subsidiary to a large financial services technology provider.

CBA advice failures unacceptable: Comyn

DARREN SNYDER  |  FRIDAY, 13 APR 2018
Commonwealth Bank chief executive Matt Comyn apologised for the group's financial advice failures as two CBA planning subsidiaries entered an enforceable undertaking with ASIC - all before the financial services Royal Commission tackles advice on Monday.