AMP issued $24m penalty for billing deceased clients

AMP-Life/amp-financial-planning/ASIC/

| By Rhea Nath |

AMP Life and AMP Financial Planning have been issued a $24 million penalty by the Federal Court in relation to charging deceased clients for insurance and financial advice.

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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MLC Life fined $10m for misleading customers

ASIC/MLC-Life/

| By Rhea Nath |

Financial planning

The Federal Court has ordered MLC Limited pay a $10 million penalty for misleading customers and failing to pay promised benefits.

AUTHOR

Rhea Nath

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Vanguard bolsters retail team amid restucture

vanguard/financial-advice/Superannuation/

| By Rhea Nath |

People & Products

The investment manager has announced the creation of two new divisions and outlined a new structure bringing together its superannuation and non-superannuation businesses.

AUTHOR

Rhea Nath

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Tax deductible advice ‘a step in the right direction’

FPA/tax-deductable-advice/ATO/

| By Jasmine Siljic |

Financial planning

With an ATO review underway to make financial advice tax deductible, Tangelo Advice Consulting’s Conrad Travers has reiterated why this would be a positive step forward for the industry.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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Younger investors lean into buy-and-hold strategies

OpenMarkets/online-trading/ETFs/young-investors/

| By Rhea Nath |

Funds management

Despite market volatility, Gen Y and Z investors are resisting selling pressures and opting for buy-and-hold strategies to build wealth, according to new data.

AUTHOR

Rhea Nath

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Insignia Financial expands executive team

insignia-financial/Superannuation/

| By Rhea Nath |

People & Products

Insignia Financial has announced the appointment of a new chief risk officer (CRO) and chief member offi

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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Investors at risk of making ‘costly mistakes’ amid advice access constraints

Policy-&-Regulation/

| By Charbel Kadib |
Financial planning

Removing regulators burdens and improving access to financial advice could prevent investors from making poor financial decisions amid mounting market uncertainty, according to the direct CEO of a major asset manager.

AUTHOR

Charbel Kadib

Charbel is an experienced financial services journalist, previously serving as news editor of The Adviser and Mortgage Business. Prior to joining Money Management, he also covered defence and national security developments as news editor of Defence Connect, Cyber Security Connect, and Space Connect. Charbel graduated from the University of Notre Dame with a double major in politics and journalism.

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Twitter

Relative Return: Welcome to a new era of structural inflation

Podcast/Relative-Return/

| By James Mitchell |
Editorial

In this episode of Relative Return, host James Mitchell catches up with Milford Asset Management’s Will Curtayne to find out why he believes property price growth will track wage growth over the next decade.

AUTHOR

James Mitchell

James Mitchell is a senior financial services reporter with over ten years experience. He has covered the Murray Inquiry, the Hayne royal commission and the evolution of Australia's financial intermediary sectors since 2011, with a focus on banking, superannuation, mortgages and wealth management.

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Former RBA boss Glenn Stevens knows inflation is deadly

inflation/RBA/australian-economy/

| By James Mitchell |
Funds management

Glenn Stevens knows all too well how long inflation can hang around for. This week, he warned Australians of the difficult road ahead.

AUTHOR

James Mitchell

James Mitchell is a senior financial services reporter with over ten years experience. He has covered the Murray Inquiry, the Hayne royal commission and the evolution of Australia's financial intermediary sectors since 2011, with a focus on banking, superannuation, mortgages and wealth management.

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FSCP fully operational and will address ‘less serious’ misconduct: ASIC

ASIC/misconduct/FSCP/

| By Rhea Nath |
Policy & Regulation

Leah Sciacca, ASIC senior executive for financial advisers, has outlined some of the activities of the Financial Services and Credit Panel, which commenced operations last year.

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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AMP issued $24m penalty for billing deceased clients

AUTHOR

Rhea Nath

Rhea 's social profiles:

MLC Life fined $10m for misleading customers

AUTHOR

Rhea Nath

Rhea 's social profiles:

Vanguard bolsters retail team amid restucture

AUTHOR

Rhea Nath

Rhea 's social profiles:

Tax deductible advice ‘a step in the right direction’

AUTHOR

Jasmine Siljic

Jasmine 's social profiles:

Younger investors lean into buy-and-hold strategies

AUTHOR

Rhea Nath

Rhea 's social profiles:

Insignia Financial expands executive team

AUTHOR

Rhea Nath

Rhea 's social profiles:

Investors at risk of making ‘costly mistakes’ amid advice access constraints

AUTHOR

Charbel Kadib

Charbel 's social profiles:

Relative Return: Welcome to a new era of structural inflation

AUTHOR

James Mitchell

James 's social profiles:

Former RBA boss Glenn Stevens knows inflation is deadly

AUTHOR

James Mitchell

James 's social profiles:

FSCP fully operational and will address ‘less serious’ misconduct: ASIC

AUTHOR

Rhea Nath

Rhea 's social profiles:

Never miss the latest news and developments in wealth management industry

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