NAB financial planners have impersonated customers, forged their signatures and withdrawn money from their accounts, the banking royal commission has heard.
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The inquiry has started dealing with cases of NAB advisers incorrectly witnessing binding beneficiary nomination forms for superannuation funds, which potentially affected the validity of the forms for about 2500 customers.
In a statement to the commission, senior National Australia Bank executive Andrew Hagger said NAB financial advisers have engaged in improper or dishonest conduct.
It included forging customers signatures, impersonating customers and making unauthorised withdrawals from customer accounts.
Mr Hagger, the chief customer officer for NAB's consumer and wealth management division, will continue giving evidence on Tuesday.
The commission earlier on Monday heard evidence about inappropriate advice given by ANZ and AMP advisers.
ANZ admitted the growth of its financial planning business was put ahead of customers' best interests before changes to financial advice laws.
ANZ changed the bonus system for its directly-employed financial planners following the Future of Financial Advice reforms that banned commissions for advisers.
ANZ executive Kylie Rixon said before the introduction of FOFA in July 2013, ANZ Financial Planning had a culture of emphasising the growth of business more than the best interests of the client.
"Prior to 1 July 2013, when ANZ determined the financial rewards to advisers it placed greater emphasis on how the financial adviser had grown business as opposed to the quality of services provided to clients," Ms Rixon told the banking royal commission.
"Incentives could be achieved on an adviser's financial performance, even if that adviser did not meet basic requirements in respect of matters such as training."
Ms Rixon, the chief risk officer for ANZ's Australian wealth division, said that was no longer the case with incentives now assessed against new factors such as client satisfaction and service delivery.
"It has taken, and continues to take, time to change this culture," she said in a statement to the commission.
"This is especially so where this focus has existed within the financial planning industry for a long period."
ANZ employs almost 280 financial planners through ANZFP and has another 600 who are authorised representatives through its aligned dealer group.
Ms Rixon on Monday said ANZ had changed its standards for financial planners, in part due to the increasingly onerous regulatory requirements.
She said it also reflected the bank's desire to create a culture that had the client at its centre, which she admitted had not always been the case in the past.
Australian Associated Press