commonwealth financial planning

COMMONWEALTH FINANCIAL PLANNING

Financial planning

CBA, Westpac and AMP facing new FoFA-related class actions

Breaches of the Future of Financial Advice rules will sit at the centre of class actions being formulated against the Commonwealth Bank, AMP and Westpac and a number of t...

Policy & Regulation

Ex-Westpac, Commonwealth FP adviser banned

Peter Jianchao Xu has been banned by the Australian Securities and Investments Commission for failing to comply with best interests duty....

Financial planning

Would small IFAs be better off on salary?

Rising authorised representative costs might make it more sensible for independent financial advisers with relatively low turnovers to consider becoming salaried planners...

Financial planning

CBA moves to exit Pathways franchise

The Commonwealth Bank has cleared the way for exiting its self-employed adviser ‘Pathways’ franchise following issues initially notified to the Australian Competition and...

Financial planning

Commonwealth FP clears EU obligation to ASIC

The Australian Securities and Investments Commission has confirmed that Commonwealth Financial Planning has cleared its enforceable undertaking obligations regarding fee ...

Financial planning

Ceasing ongoing service fees to cost CBA $40m

The cessation of ongoing service fees for salaried planners will cost the Commonwealth Bank $40 million....

Policy & Regulation

ASIC penalises Commonwealth FP for failing to meet EU terms

Commonwealth Financial Planning failed to meet its obligations to ASIC under a Court enforceable undertaking, and must now stop charging fees for ongoing services. ...

Financial planning

CFPL gets qualified mark on EU undertakings

Commonwealth Financial Planning has sought an extension of time from the independent expert appointed to oversee the outcome of its enforceable undertaking (EU) over fees...

Financial planning

Former CBA planner pleads guilty to forgery

A former Commonwealth Financial Planning senior planner has pleaded guilty to one rolled-up charge alleging forgery....

Financial planning

Managed investment disputes double at Comm FP: FOS

FOS’ annual comparative tables of dispute statistics showed the number of managed investment disputes at Commonwealth Financial Planning doubled in its planner arena....

Financial planning

CBA misses some deadlines in advice compensation process

A forensic report found the CBA failed to meet the time-frames for several clients who requested reviews for poor advice provided between 2003 and 2012....

Financial planning

CBA offers $4.9m in advice compensation

The Commonwealth Bank has offered almost $4.9 million in compensation to clients who received poor advice while it has offered compensation to 201 cases for poor advice i...