Some Commonwealth Bank of Australia financial advisers continued charging clients fees after they died, in one case for more than a decade, a royal commission has heard.
One Count Financial planner knew his client had died in January 2004 but was still reaping almost $1000 a year in fees at the end of 2015.
"When asked, he said he didn't know what to do and he had tried to contact the public trustee and had not heard back," a Count Financial document said.
The December 2015 internal investigation revealed other examples of dead clients among broader cases of Count Financial planners charging fees for advice services customers never received.
The document put before the banking royal commission on Thursday noted one adviser was not providing ongoing services to clients, including charging a dead client for six years.
That person died in 2007 and contact was made with the client's wife in 2013 but no action was taken.
The report by the CBA subsidiary found another adviser in the Count Financial network had provided no advice to any client but was receiving ongoing service fees, including from someone who died in March 2015.
The CBA has been dubbed the "gold medallist" of the "fees for no service" problems across Australia's big four banks and largest wealth manager AMP.
CBA has refunded $118.5 million to customers of its Commonwealth Financial Planning, Count Financial and the now-closed BW Financial Advice businesses who were charged fees for no service, mainly between July 2007 and June 2015.
The royal commission heard Commonwealth Financial Planning was receiving complaints from customers for six years before the corporate regulator was notified in 2014.
Senior CBA executive Marianne Perkovic, who had overall responsibility for its financial advice businesses from 2012 to 2016, said the bank apologised for the customer complaints.
Pressed by senior counsel assisting the commission Michael Hodge QC, she conceded Commonwealth Financial Planning knew it had a 'fees for no service problem' before its August 2014 breach notice to the Australian Securities and Investments Commission.
Mr Hodge said: "You knew earlier."
Ms Perkovic replied: "We knew there were isolated complaints but not systemic to the nature in 2014."
The inquiry heard Commonwealth Financial Planning gave the regulator an "early warning" about the issues in July 2014, after identifying there was a systemic problem, but Ms Perkovic denied the aim was to "manage" ASIC or that it was drip-feeding information.
Ahead of this week's commission hearing, CBA and ASIC announced an agreement over fees for no service issues involving two of the financial planning subsidiaries.
Commonwealth Financial Planning and BW Financial Advice have paid $88.6 million in compensation to 31,500 customers who did not receive an annual review as part of their financial advice service package.
Negotiations over the enforceable undertaking took more than a year and Mr Hodge questioned if the subsidiaries were trying to limit the amount of money - $3 million - they had to pay to a community benefit fund.
Ms Perkovic said she was not aware of that and was not involved in the negotiations.
Count Financial has not yet entered into an enforceable undertaking.