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Affected clients of Mercer Financial Advice paid over $14 million in inappropriate ongoing fees, as court documents show ASIC pushed for a penalty of $20 million....
INDUSTRY NEWS
The decision by AMP to pay $100 million in settlement to members of the Buyer of Last Resort class action has been welcomed as providing closure, but one adviser told Mon...
INDUSTRY NEWS
WT Financial Group managing director, Keith Cullen, believes the current M&A activity in financial advice is long overdue, having been accused of “running into a burning ...
INDUSTRY NEWS
Macquarie Group’s releasing of nine financial advisers has driven double-digit losses for the industry this week, Wealth Data finds. ...
INDUSTRY NEWS
Netwealth CEO, Matt Heine, has identified financial advice as one of six areas he believes will be beneficiaries of the growth in artificial intelligence....
INDUSTRY NEWS
Mercer Financial Advice has been ordered to pay a $12 million penalty for fees for no service and failures in its fee disclosure obligations. ...
INDUSTRY NEWS
AMP has announced it has reached a settlement decision in its Buyer of Last Resort class action proceedings, confirming how much it will pay advisers. ...
INDUSTRY NEWS
The regulator has updated on the status of a former Sydney financial adviser alleged to have faked client signatures to illegally obtain around $750,000. ...
INDUSTRY NEWS
ESG and responsible investing is yet another sector set to benefit from opportunities offered by artificial intelligence, says an associate director, but it also brings i...
INDUSTRY NEWS
The former director of a financial advice group has been disqualified from managing corporations after ASIC found he put investor funds at risk and made misleading and de...
INDUSTRY NEWS
Minister for financial services Stephen Jones believes super funds can be the source for boosting financial adviser numbers and hints at a new educational pathway for sup...
INDUSTRY NEWS
Financial advisers receive the second-highest expenditure in ASIC’s financial services and wealth division, according to documents, ahead of investment managers and super...
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