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CBA
Financial planning
In 2017 the bank had underpaid staff in pay and entitlements in relation to super due to ‘excessively complex individual employment arrangements’, according to the Financ...
People & Products
The Commonwealth Bank chief executive will have Marnie Baker, Bendigo and Adelaide bank chief executive, as deputy chair....
Funds management
In the wake of its money-laundering scandal, most funds that had a high allocation towards the bank managed to recover losses indicating the resilience of big banks....
Financial planning
Fitch Ratings has said that the AUSTRAC proceedings brought against Westpac were credit negative, but will not have an immediate impact on its ratings....
Life/Risk
CommInsure will refund $12 million for unfair life insurance telephone sales to around 30,000 customers....
Financial planning
Just like the big industry superannuation funds, the banks are embracing salaried planners as integral to retaining a foothold in wealth management....
Financial planning
The Commonwealth Bank has confirmed a round of redundancies is underway within Commonwealth Financial Planning....
Financial planning
The Commonwealth Bank intends staying in the advice market despite its recent close-down of aligned advice and the sale of Count Financial, according to its chief executi...
Financial planning
The Commonwealth Bank has provided a broadly positive first quarter trading update including the costs so far associated with advice remediation....
Life/Risk
AIA and the Commonwealth Bank have translated the CommInsure acquisition into a 25-year distribution arrangement....
Superannuation
The Commonwealth Bank of Australia has acknowledged the two class actions against Colonial First State that were filed last week....
Superannuation
Former Colonial First State executive director, Linda Elkins may have left the company and become a partner at KPMG but she has been named in a class action filing....
Life/Risk
CommInsure has been charged by the Australian Securities and Investments Commission for offering to sell life insurance products via non-compliant unsolicited phone calls...
Funds management
Colonial First State Global Asset Management has been rebranded to First Sentier Investors as it completes its sale from the Commonwealth Bank....
Financial planning
With the Commonwealth Bank’s planned exit from Financial Wisdom and the sale of Count Financial, all eyes have turned to the future of Colonial First State....
MARKET INSIGHTS
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Podcast
My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...
Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...
How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...