OnePath

Financial planning

Insignia ups legacy advice remediation in Q4 update

Insignia has announced it has completed the separation of Rhombus Advisory but flagged it needs to increase its remediation provision by an estimated $135 million relatin...

Superannuation

OnePath Custodians receives $5m penalty for fees for no service

Super trustee OnePath Custodians has been ordered to pay $5 million for fees for no service misconduct, less than six months after being fined $1.4 million by APRA....

Superannuation

OnePath Custodians receives $1.4m fine from APRA

OnePath Custodians has been fined $1.46 million for failing to direct 125 member contributions to a MySuper product....

Financial planning

ASIC sues OnePath for fee-for-no-service

The corporate regulator has alleged OnePath incorrectly charged over $4 million in fees to more than 18,000 fund members when it was not entitled to do so....

Funds management

IOOF partners with Invesco for passive mandates

The partnership will see Invesco manage over $23 billion in index investments with the ANZ pensions and investments business that was acquired by IOOF....

Superannuation

The super funds which took the biggest early release hits

Ten superannuation funds experienced outflows in excess of a billion dollars as a result of the Government’s COVID-19 hardship superannuation early release regime, with i...

Superannuation

Did 5% of super early release applicants empty their accounts?

New data has emerged suggesting as many as 5% of early release superannuation applicants entirely emptied their accounts while just 10 superannuation funds paid around 68...

Superannuation

Early release headed towards $38 billion

When the Government’s early release superannuation scheme comes to an end, 10 funds will have made over 60% of the payments, most of them being industry funds....

Financial planning

OnePath switches off ASFs on Integra Super and Personal accounts

OnePath has told advisers to prepare for the switch-off of adviser service fees on Integra Super and Personal Accounts from 31 December while pointing to their ability to...

Financial planning

AMP extends life insurance APL across all licensees

AMP Limited has expanded its life insurance approved product list and extended it across all its planning licensees....

Funds management

Small global equity funds outshine large funds

The top-performing fund when comparing the smallest and largest active global equity funds was a $1.2 million sized fund returning 44.35% since the start of 2020, accordi...

Funds management

No asset class spared from poor performance

Equity, bond and multi-asset sectors all saw high volumes of 1 Crown-rated funds in the latest FE fundinfo Crown Ratings rebalance. ...

Life/Risk

Under pressure OnePath increases IP and TPD premiums for existing customers

An under pressure OnePath has stepped up its efforts to cut its losses on income protection insurance by announcing a 25% increase in premiums for existing customers as w...