Meanwhile the government says it wants to lower the cost of advice. The governments regulator is ballooning how much t...
If an adult signs a form stipulating a payment to occur, that should be the end of the matter - no need for the governme...
Commissioner Hayne recommended Consent Forms to stop Bank Executives [not Advisers] illegally taking fees out of consume...
AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....
A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...
The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....
AMP were also ramping up their internal divisions to look after the clients acquired from their exiting planners, and evidence provided in court showed that they expected to make a profit on managing those clients internally (rather than leave them in the hands of non-employed planners). Even if Damien Byrne had his eye rightfully on mitigating risk, Akers et al then tried to turn it into a profit play. Risk mitigation could have been discussed reasonably with the advisers and the agents association: robbing the planners was not a strategy that could be 'consulted' on. Hence the court decision. Now executives have to explain to shareholders how they got this so so wrong, and how many millions of dollars their arrogant mistake will cost them. Its a shame that the CEO hightailed it overseas before the judgement. I wonder if anyone will have the nerve to question David Murray about masterminding this diabolical plan????