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Financial Planning

CBA looks for plaintiffs to assist in remediation process

LAURA MILLAN  |  MONDAY, 25 AUG 2014
Commonwealth Bank (CBA) is in advanced discussions with a number of plaintiff law firms that will act as independent consumer advocates in the Open Advice Review program to compensate victims of poor financial advice.

NAB gives advisers 3 years to meet tougher standards

LAURA MILLAN  |  MONDAY, 25 AUG 2014
National Australia Bank (NAB) and MLC financial planners have three years to meet the new education standards, which require advisers to hold tertiary qualifications.

FPA turns to social media on Financial Planning Week

STAFF WRITER  |  MONDAY, 25 AUG 2014
This year's Financial Planning Week by the Financial Planning Association (FPA) will turn to social media as a strategy to encourage Australians to seek advice.

Research group launches adviser rating app

LAURA MILLAN  |  THURSDAY, 21 AUG 2014
Consumers will be able to rate their financial planners through a mobile app, which includes an adviser register and is part of the broader Most Trusted Advisers network.

AMP lifts minimum adviser standards

LAURA MILLAN  |  THURSDAY, 21 AUG 2014
Australia's largest advice business AMP will require that all of its financial planners hold a post-graduate degree, a move that aims to increase trust in advisers.

Countplus misses profit guidance

ALICE URIBE  |  THURSDAY, 21 AUG 2014
Countplus failed to achieve its profit guidance, revealing a 1.7% drop in its net profit after tax (NPAT) due to the sale of a poor performing business and the restructure of another.

HUB24 acquires dealer group

LAURA MILLAN  |  THURSDAY, 21 AUG 2014
HUB24 has acquired an independent dealer group with 20 financial advice practices across Australia and more than $2.5 billion in funds under advice.

Adviser jailed for blowing client funds on fast cars

MARK SMITH  |  THURSDAY, 21 AUG 2014
An adviser who defrauded investors out of $1 million to rent sports cars and buy a house has been jailed for more than five years following an investigation by the Australian Securities and Investments Commission (ASIC).

Advisers to study for 200 hours under TASA

LAURA MILLAN  |  WEDNESDAY, 20 AUG 2014
Planners registered as tax financial advisers with the Tax Practitioners Board (TPB) will have to undertake at least 200 hours of study covering Australian taxation and commercial law.

Greens slam CBA executives pay rise

LAURA MILLAN  |  TUESDAY, 19 AUG 2014
Top Commonwealth Bank (CBA) executives should have frozen their salaries or even taken a pay cut while the compensation process for thousands of victims of poor financial advice remains ongoing, Greens Senator Peter Wish-Wilson said.