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Financial Planning

CBA wealth management FUA up 11%

MARK SMITH  |  WEDNESDAY, 11 FEB 2015
Commonwealth Bank's wealth management division contributed strongly to the bank's solid half-year result, increasing funds under administration by 11% and delivering outperformance from 85% of funds over three years.

AMP Capital joins retirement education portal

MARK SMITH  |  WEDNESDAY, 11 FEB 2015
AMP Capital has become the sixth asset manager to join the Lonsec Retire Industry Panel, an online portal designed to help planners give better retirement advice to their clients.

Decline in practice valuations bottoms out

MARK SMITH  |  TUESDAY, 10 FEB 2015
Financial planning business valuations have levelled off following a 20% decline over the last five years, according to a report from business broking services provider Centurion Market Makers.

NAB kick starts self-employed advice channel

LAURA MILLAN  |  TUESDAY, 10 FEB 2015
National Australia Bank (NAB) is offering its advisers the opportunity to become self-employed through a new channel.

Reconsider life insurance commission ban: ISA

LAURA MILLAN  |  TUESDAY, 10 FEB 2015
Life insurance status quo must change and the Life Insurance and Advice Working Group should reconsider banning commissions from risk advice, Industry Superannuation Australia (ISA) said in its submission to the inquiry.

DeVere expands Australian operations

ALEX BURKE  |  TUESDAY, 10 FEB 2015
DeVere Group, one of the largest financial advice organisations in the world, has launched its second Australian office and named its management team.

St George head of advice joins Anne Street

LAURA MILLAN  |  MONDAY, 9 FEB 2015
Westpac's head of St George, Bank of Melbourne and Bank SA Financial Planning has left the business and joined Anne Street Partners as head of strategy and advice.

ASIC to face legal action over Storm Financial

LAURA MILLAN  |  THURSDAY, 5 FEB 2015
ASIC is facing a class action for its alleged delay in taking action against Storm Financial and for allegedly acting to protect the interests of major banks, particularly the Commonwealth Bank, rather than customers.

MDS Financial Group to purchase Sequoia Wealth Group

ALEX BURKE  |  THURSDAY, 5 FEB 2015
Back-office software provider and broker MDS Financial Group (MDS) has signed a non-binding term sheet to acquire specialist financial advice firm Sequoia Wealth Group (SWG), it announced today.

Succession planning major issue for advisers

ALEX BURKE  |  WEDNESDAY, 4 FEB 2015
A significant amount of financial advice practices have no effective succession plan in place, according to the Rubik Wealth/Business Health Future Ready VI report.