Wealth managers’ costs for fixing scandals are set to soar – Business – ABC News (Australian Broadcasting Corporation)

Cash seized by police from a car in Sydney's west on November 20, 2009.

 

Remediation costs for Australia’s scandal plagued wealth mangers could more than double to $6b from current provisions
The modelling from Macquarie analysts is based on a figure of $750,000 remediation cost per advisor, dervived from Westpac’s experience
The biggest upgrades in provisions are expected to be made by AMP, ANZ and IOOF

via Wealth managers’ costs for fixing scandals are set to soar – Business – ABC News (Australian Broadcasting Corporation)