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ONEPATH
Financial planning
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
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 has been fined $1.46 million for failing to direct 125 member contributions to a MySuper product....
Financial planning
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
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
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
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
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 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 Limited has expanded its life insurance approved product list and extended it across all its planning licensees....
Funds management
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
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
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...
Superannuation
Seven super funds have been classifying new members as ‘smokers’ by default and over 5,000 members will receive $3.6 million in compensation....
Life/Risk
Life insurers have responded to a call to arms from Synchron to demonstrate how they are protecting customers during the COVID-19 pandemic. ...
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MARKET INSIGHTS
Podcast
The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...