ASIC sues MLC Life over alleged insurance failures

ASIC sues MLC Life over alleged insurance failures

The corporate regulator has taken legal action against the formerly NAB-owned MLC Life for allegedly charging insurance premiums without paying benefits.

  • byCharlotte Grieve

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IOOF chief tips financial advice surge if second recession hits

IOOF chief tips financial advice surge if second recession hits

IOOF is seeking to become the country’s largest and cheapest financial advice provider but substantial costs associated with its acquisition strategy,and no guidance on future earnings has created uncertainty for investors,causing a 10 per cent stock fall.

  • byCharlotte Grieve
IOOF to cull 140 advisers in plan to take on rivals

IOOF to cull 140 advisers in plan to take on rivals

IOOF wants to become Australia’s go-to destination for financial advice,but says it needs to restructure its network to make become more competitive. A major adviser cull is on the cards.

  • byCharlotte Grieve
'Significant damage':Powerful investor group lashes corporate Australia amid IOOF harassment claims

'Significant damage':Powerful investor group lashes corporate Australia amid IOOF harassment claims

The powerful institutional investor advisory group ACSI says sexual harassment in the workplace is unacceptable.

  • bySarah Danckert
Senior IOOF executive accused of'inappropriate'touching in unfair dismissal claim

Senior IOOF executive accused of'inappropriate'touching in unfair dismissal claim

A former IOOF executive has accused the wealth manager's deputy chief investment officer Stanley Yeo of sexual harassment.

  • bySarah Danckert
IOOF rules out in-house services to sidestep conflicts of interest

IOOF rules out in-house services to sidestep conflicts of interest

IOOF chief executive Renato Mota is bucking the trend of bringing investment management services in-house,claiming it creates conflicts and threatens member returns.

  • byCharlotte Grieve
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IOOF put on notice to prove merit of MLC takeover
Business
AGM season

IOOF put on notice to prove merit of MLC takeover

The ASX-listed money manager has received a hefty protest vote over executive pay at its AGM from shareholders sceptical about the deal.

  • byCharlotte Grieve
Financial advice should be tax deductible,says IOOF chief

Financial advice should be tax deductible,says IOOF chief

The head of financial services giant IOOF has called on the government to make financial advice tax deductible to make it more affordable after reforms to improve the standards in the industry have forced many advisors out the door.

  • byCharlotte Grieve
Private equity key to wealth shake-up:IOOF's Renato Mota

Private equity key to wealth shake-up:IOOF's Renato Mota

IOOF's boss has played down the chances of the wealth manager making any more acquisitions,saying'we absolutely have our hands full.'

  • byClancy Yeates
Less is more for NAB after sale of wealth management arm to IOOF

Less is more for NAB after sale of wealth management arm to IOOF

IOOF is set to become the country's largest wealth management business and second largest super fund after it takes over NAB's MLC Wealth business.

  • byCharlotte Grieve andClancy Yeates
IOOF reaches $1.4b deal to buy NAB's wealth business

IOOF reaches $1.4b deal to buy NAB's wealth business

The deal will cement the big four banks'exit from the super industry following a long list of scandals and mounting customer remediation bills.

  • byCharlotte Grieve