CBA puts demerger on hold
The Commonwealth Bank has decided to delay the demerger of its wealth management business to allow it time to complete its client remediation obligations.
The bank announced to the Australian Securities Exchange (ASX) today that it was prioritising the recommendations of the Royal Commission and had therefore suspended preparations for the demerger.
The big banking group reaffirmed the amount of $1,460 million provisioned to address the remediation issues
Recommended for you
TAL has introduced four new courses to its Risk Academy focused on ethical dilemmas as part of Ethics Month to help advisers meet their CPD requirements.
Unadvised Australians believe they need $2 million to retire comfortably, according to Colonial First State, a wide variance compared to advised individuals which estimate $1.3 million.
Financial advisers can now access Vanguard’s diversified managed account strategies on HUB24 and Netwealth, marking a “significant expansion” through new distribution channels.
The heads of two financial advice licensees have joined the board of the Financial Services Council as it looks to deepen its engagement with the space and strengthen its representation.