GESB reduces fees for allocated pension
Big West Australian fund GESB has reduced the fees applying to its Retirement Income Allocated Pension.
GESB General manager of wealth management, Fabian Ross, said the reduction in costs to administer the scheme as well as managing investments has enabled GESB to pass on cost-savings to members, equating to an annual saving of $20 for every $10,000 a member has in their account.
GESB is the largest superannuation provider in Western Australia with more than 320,000 members.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.