Across an otherwise competent frontbench, Assistant Treasurer Stephen Jones stands out like dog’s balls.
Or consider the magician’s sleight of hand when Jones capped the proposed Compensation Scheme of Last Resort at $150,000 and excluded managed investment schemes from the legislation despite campaigning against the same decision by, who Jones said “will never fight for strong protections … Australians deserve and expect when they seek financial advice”. Poof!
This thought bubble was outlined by Jones at the University of Western Sydney’s ethical investment forum in Parramatta last December, flanked by Crescent Wealth managing director, who not only manages super for Islamic savers, but has previously sought Labor preselection. , noted its fees and costs “are not appropriate having regard to their [members’] financial interests” and its net returns “are not consistent with market rates”.Which is why we took such an interest in Crescent’s latest significant event notice, released last week, which detailed how Crescent’s investment costs, conveyed to its trustee and published to members, were “too low, resulting in a breach of regulatory standards”.
But what’s a 34 per cent difference between mates? Well, about $100,000 less in savings at retirement, actually.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Free pop-up pools across Sydney for the summer | 7NEWSAfter a wet and soggy winter, many of us are looking forward to some warmer weather. But you won't have to travel to the beach this summer to enjoy a swim. 11 new pop-up sites are opening right across Western Sydney and they're free. SydneySummer 7NEWS
Read more »
South Africa’s power game condemns England and Jones to another defeatThe world champions brushed England aside 27-13 at Twickenham to increase the pressure on Eddie Jones
Read more »
Recaptured Kherson suffers missile strikes as Russia digs-in across the Dnipro riverAnother wave of Russian attacks hit Kherson in southern Ukraine as Moscow steps up its strikes on critical infrastructure in an effort to tighten the screw on Kyiv.
Read more »
Ratnam ‘very proud’ of campaign as Greens eye gains across MelbourneVictorian Greens leader Samantha Ratnam hopes her party will double its seats in the lower house at Saturday’s state election, putting it in a strong position to push its agenda if there is a hung parliament. | heyracheddie
Read more »
Popular seltzers recalled across Australia for containing too much alcoholPopular seltzers that have been sold around Australia are being recalled because they contain too much alcohol and carbonation. MORE: 9News
Read more »