Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Monday morning.

But first, here are the data points:

Australian Dollar ($A) (AUDUSD): 71.10 US cents

Dow Jones (DJI): down 0.3%

Oil (WTI): $US67.97 per barrel

Gold: $US1,200 per ounce

Here’s Australian’s Investing News

[emaillocker]

In Australian share market news, funds management and financial advice business Evans Dixon (ASX: ED1) announced the completion of its acquisition of corporate advisory business Fort Street Advisers. The business will merge with Evans Dixon Capital Markets to form a new division called Evans Dixon Corporate & Institutional.

“There is an undeniable opportunity to benefit from the expertise of Fort Street and Evans Dixon to create a leading Australian corporate advisory and capital markets platform,” Evans Dixon Executive Chairman David Evans said. The deal came at a price of $53.9 million.

National Australia Bank Ltd. (ASX: NAB) is another focal point for investors and the advice community alike following ASIC‘s announcement that it will take the bank to Federal Court. ASIC alleges NAB’s super funds wrongly charged their members up to $100 million for advice it didn’t give.

In a media release, ASIC said NAB’s NULIS and MLC Nominees businesses misled members in the MLC MasterKey Super products.

“ASIC also alleges NULIS and MLC Nominees deducted approximately $33m Plan Service Fees from 220,000 members of MLC MasterKey Business and MLC MasterKey Personal Super who did not have Plan Adviser,” ASIC’s statement read.

“NAB also deducted approximately $67m Plan Service Fees from 300,000 members of MLC MasterKey Personal Super where Plan Advisers were not required to provide services and members did not receive services (or any services they could not otherwise obtain for free).”

NAB and fellow wealth management businesses like AMP Limited (ASX: AMP) were recently questioned over improper advice and other concerns during the Royal Commision.

[/emaillocker]

The Best* Finance Podcast On Earth

The Rask Group’s Australian Investors Podcast is fast becoming Australia’s #1 podcast for serious investors. It provides unique insights from Australia’s best investors, entrepreneurs, authors and financial thinkers. Download the latest episode free on iTunes,  CastboxYouTube or wherever you choose to listen.

*as voted by us

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content