FPA raises concerns about impact of AFCA legacy complaints rule changes on professional indemnity market

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The Financial Planning Association of Australia (FPA) has raised concerns about the Australian Financial Complaints Authority’s (AFCA) proposed legacy complaints rule changes and the potential impact they will have on the professional indemnity (PI) costs for financial planners. In its submission to AFCA’s consultation on the proposed changes to its rules, the FPA supported the intent of […]

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Petrol prices hit 24-week highs

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Weekly Petrol Prices Weekly Petrol Price: According to the Australian Institute of Petroleum, the national average price of unleaded petrol rose by 5.5 cents in the past week to 150.0 cents a litre – the highest level since early November. The petrol figures have implications for retailers, especially petrol marketing groups. What does it all […]

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PPS Mutual launches risk-only Super Fund

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Specialist insurance company PPS Mutual has announced the launch of the PPS Mutual Super Fund, which allows the company to offer a complete life insurance solution for eligible professionals through a PPS Mutual accredited adviser. The PPS Mutual Super Fund will facilitate Members to fund their insurance premiums via rollover from their standard accumulation super […]

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Susan Allen joins the OpenInvest board

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OpenInvest, the online marketplace and platform giving investors access to a diverse range of Australian and international investment managers, has appointed Susan Allen to its board. Ms Allen is a highly experienced executive and non-executive director who spent 16 years in various senior executive roles at the RACV and oversaw the launch of new businesses […]

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Bernie Ripoll joins SMSF Association board

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A Parliamentary Secretary in the former Gillard Labor Government, the Hon. Bernie Ripoll, is joining the SMSF Association board, effective immediately. Ripoll, who joined the Association’s Public Policy Committee in January 2018, will replace Cath Mulcare, who is stepping down after being a director since June 2015. Association chair Dr Deborah Ralston, who made both […]

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TAL drives life insurance engagement with consumers through ‘The Value of You’ campaign

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TAL, a leading Australian life insurance specialist, has tackled one of the big challenges facing the life insurance industry with a content-led digital campaign aimed at engaging Australians with the value of the category and its products. With many Australians struggling to see the benefits of life insurance products until it comes time to make […]

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ASIC warns trustees about Protecting Your Super laws and provides guidance for consumers

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ASIC has called on superannuation trustees to provide helpful and balanced communications to their members regarding the Protecting Your Super package (PYSP) of reforms, which are due to take effect on 1 July 2019. The PYSP reforms are designed to protect the superannuation savings of Australians from erosion due to inappropriate fees and insurance premiums […]

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Colonial First State fee cuts to benefit over 500,000 members with around $68 million in annual fee reductions

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Colonial First State has announced significant fee reductions across its superannuation and investment platforms, reducing the cost of investing for over 500,000 members. Colonial First State fee reductions will lower costs for members across its FirstChoice Wholesale platform, FirstChoice Employer Super and its FirstWrap Plus platform and will come into effect from early June 2019 […]

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Royal commission response: Anti-hawking

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Currently insurers are not permitted to offer financial products for issue or sale to retail clients in the course of or because of an unsolicited meeting at all, or in the course of a telephone call unless they have met certain requirements. The result is that there is virtually no cold-calling in general insurance because […]

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DomaCom hits $50m FUM milestone, grows 20% in past 75 days

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DomaCom Limited (ASX: DCL) (DomaCom or the Company) is pleased to announce that the DomaCom Fund has grown its funds under management (FUM) to over $50m, an increase of 20% since 31 January 2019. DomaCom CEO Arthur Naoumidis said, “In the last two months DomaCom has added 20% to its FUM. We have seen a […]

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