ANZ fairness adviser to cover wealth customers
Wealth customers will be among the beneficiaries of the new customer fairness adviser appointed by ANZ.
The big banking group announced that former Commonwealth ombudsman, Colin Neave, had been appointed to the fairness adviser role and that his remit would be help improve the fairness of the bank's products and services for retail, small business, and wealth customers in Australia.
Confirming the appointment, ANZ chief executive officer, Shayne Elliott said it was designed to help the banking group more consistently deliver fair and responsible banking to its retail and small business customers.
He said that as a first step, Neave would help develop remediation principles so that the ANZ had a consistent set of standards for when things went wrong.
Elliott said Neave would also conduct a fairness review of the bank's core retail deposit and credit products to ensure they continued to operate fairly, including their fees and charges.
Recommended for you
ASIC has suspended the AFSL of a Sydney fund manager, which operates a managed investment scheme, over repeated failures to comply with licensee obligations.
Wealth Data has shared an updated ranking of the five largest Australian financial advice licensees, with just 59 advisers separating the firms in the lower half of the table.
United Global Capital complaints to AFCA have quadrupled since August and are highly likely to rise further as it retains membership for another six months.
An advice executive has shared how advisers should regularly assess the performance of their licensee, regardless of whether they are looking to leave, in order to prevent any problems from arising.
