NAB delays MLC Wealth divestiture
NAB has stretched out the timeline for the spinoff of its MLC Wealth business and has kept a trade sale on the table as an option. Tahn Sharpe reports.
February 14, 2019
Royal commission costs tick over $500 million for AMP
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.
February 14, 2019
Managed account conflicts of interest divide industry
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.
February 13, 2019
Gender lens in focus for Verve Super
Verve Super is taking a new approach to ethical investing by refusing to take a stake in companies that don’t have at least one woman board member and lobbying for others to follow.
February 12, 2019
‘Opex exemption’ loophole could remain open
Xplan subscription fees and sponsorship at conferences are among the common examples of opex payments product providers make to licensees, which may continue despite Hayne’s crackdown.
February 12, 2019
HNW clients think just like us: UK academic
Herman Brodie is conducting a study on whether the big five personality traits are as common in wealthy people as they are to the rest of us. He hopes – and suspects – the answer is yes.
February 11, 2019
Crackdown on grandfathering, fees to feed billions into super
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.
February 07, 2019
The truth about trust
To understand what the community expects of financial advisers, it's important to establish what key elements make up a trustful relationship.
February 07, 2019
Hayne throws doubt over AMP BoLRs
The Commissioner's view that client fees shouldn’t be seen as a tradable asset by advisers and wealth firms appears to undermine the BoLR-style of agreement.
February 06, 2019
Be gloomy, but not too gloomy: JP Morgan
An investment specialist has warned against “running for the hills”. Caution is the order of the day but a late cycle in the market isn’t necessarily a prelude to recession.
February 06, 2019
Hayne ignites adviser discipline bonfire
The commissioner’s proposed new disciplinary body could either make ASIC’s incoming code-monitoring bodies redundant or grant them much stronger powers over advisers.
February 05, 2019
Hatch a plan for post-Hayne prosperity
The recent release of the royal commission report makes a strong case for even deeper reflection than usual at this time of year.
February 05, 2019
