NAB to exit wealth and MLC
National Australia Bank has confirmed its intention of exiting its wealth management business in Australia, excluding JB Were and nabtrade.
The big banking group confirmed its intention while releasing its half-year results to the Australian Securities Exchange today declaring it intended to focus on its core strengths and to move to a simpler wealth offering.
“We intend to exit our other wealth management businesses including MLC,” it said.
Recommended for you
ASIC has banned a former AFSL director after he failed to adequately address fees-for-no-service conduct by one of his firm’s representatives.
The Financial Advice Association Australia has appointed two new board members following two weeks of voting, as well as one re-elected member.
Advice licensee Bombora has introduced a board of six financial advisers from its national network to ensure industry voices are heard collectively on future decisions.
Technology firm Iress and investment manager Challenger have formed a strategic partnership to launch an adviser solution to better serve their retiring clients.
