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The bank’s annual results also revealed net cash outflow of $3.968 billion from Australian wealth management, compared with $931 million net cash inflows the previous year.
Matthew Smith and Tahn SharpeFebruary 14, 2019
Hayne’s benign take on the separation of product and advice left the door open for conflicts of interest in managed accounts to continue. Not everyone is convinced that this is a problem.
Tahn SharpeFebruary 13, 2019
Hayne’s recommendation to end pre-FoFA commissions and fees-for-no-service could generate $3.7 billion in remediation and send $1.1 billion a year flowing back into super balances.
Tahn SharpeFebruary 7, 2019