BT Protection Plans have been added to more than 100 approved product lists within dealer groups and the number of advisers the products have doubled since its launch in February 2011 to the independent financial advice market. According to BT Insurance, more than half the applications have been underwritten, and submitted online and over 25% of income [...]
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Licensee Select has appointed Simon Dutton to the role of Manager, Operations and Service Delivery. David Hunt, National Manager Licensee Select, welcomed Simon to the role and said the appointment came as the business continues to experience unprecedented growth. “Simon will focus on working closely with our key stakeholders to support the continued growth of [...]
continue readingASIC has obtained orders in the Federal Court of Australia to wind up York Capital Limited (York) following the company’s failure to lodge its financial reports and hold annual general meetings for the past three years. On 29 June 2011, the Federal Court of Australia ordered that York be wound up and appointed Mr Paul [...]
continue readingBendigo and Adelaide Bank has announced the appointment of former Ericsson CEO, Jacqueline Hey, to its Board of Directors. Ms Hey was previously CEO of Ericsson in the UK and in Australia. She worked with Ericsson for more than 20-years in finance, marketing, sales and leadership roles in Australia, Sweden, the UK and the Middle [...]
continue readingPeter McDonagh joins Centuria Capital One of Australia’s most successful diversified fund managers, Centuria Capital Limited (formerly Over Fifty Group Limited) announced today that Peter McDonagh has joined as Head of Reverse Mortgages. With almost 30 years experience within the financial services industry, Mr McDonagh has extensive expertise in managing mortgage services teams and high-volume [...]
continue readingNew report from Rice Warner reveals increasing levels of personal insurance Australia’s life insurance gap has reduced over the last six years, according to a new report from Rice Warner Actuaries. As at June 2010, the overall level of underinsurance is $669 bn to meet the subsistence needs of families and dependants after death, which compares [...]
continue readingFlat fee WRAP service launch simpleWRAP today launched a full service administration wrap offering a simple and fully transparent pricing model – a flat fee irrespective of account balances – that it believes is the first in Australia for both superannuation funds and investors. Long established industry leader Krystyna Weston, Director of simpleWRAP, said “simpleWRAP [...]
continue readingBackground to the TOFA reforms The TOFA reforms were first announced in the 1992 budget and were later taken up by the Review of Business Taxation. The review’s final report – A Tax System Redesigned (the Ralph report) – made various recommendations about the taxation of financial arrangements. While some of the recommendations made in [...]
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AFA meets with independent MPs – Grass roots political campaign paying off, but now is not the time for complacency After meeting with key independent politicians in Canberra this week, the Association of Financial Advisers (AFA) can confirm that the concerns of financial advisers in relation to the Future of Financial Advice (FOFA) reforms are [...]
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Standard & Poor’s Fund Services today assigned ratings to various sibling funds managed by a range of fund managers. These sibling funds relate to headline funds available on BT platforms where Westpac Financial Services Ltd. is the responsible entity. We define a sibling fund as a fund that invests in an underlying pool or fund [...]
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