Financial Standard

Litigation funder disputes AMP BOLR settlement

KARREN VERGARA  |    12:42PM   The litigation funder of the AMP Buyer of Last Result (BOLR) class action is negotiating its cut of the settlement money and could take home as much as $43 million.

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA   Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds.

Perennial Partners takes over Australian Unity fund

ANDREW MCKEAN  |    12:47PM   Perennial Partners has agreed with Australian Unity Funds Management Limited (AUFM) to take over the investment management of the latter's Future of Healthcare Fund.

Perpetual seals $2.18bn deal with KKR, chief to retire

ANDREW MCKEAN  |    12:42PM   Perpetual has agreed to divest its wealth management and corporate trust businesses to Kohlberg Kravis Roberts (KKR) for $2.18 billion, pending shareholder approval. The deal will see the departure of Perpetual chief executive Rob Adams.

Aussies underestimate life insurance's importance: Investment Trends

ANDREW MCKEAN   There is a gap in perception among Australians of life insurance as a crucial component of financial stability, according to an Investment Trends Consumer Insurance Needs report.

UniSuper selects new group insurer

JAMIE WILLIAMSON   After more than a decade in business, UniSuper has dropped TAL as its group insurer.

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA   The proposed 30% tax on large superannuation balances must clarify the confusion surrounding legacy pensions and reserves, and how they should be calculated, according to the SMSF Association (SMSFA).

intelliflo adds SMSF cashflow modelling capabilities

JAMIE WILLIAMSON   Advisers using intelliflo now have access to cashflow modelling tools for SMSF clients.

Experts weigh in: Will the RBA hike rates again?

ELIZA BAVIN  |    12:22PM   The Reserve Bank of Australia left interest rates unchanged again this month - but another hike could be on the cards.

South Australia recognised as 'economic leader'

ANDREW MCKEAN   South Australia leads in economic performance across all Australian states and territories, according to the CommSec State of the States quarterly report.

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN   ASIC has won a case against BPS Financial, following a Federal Court ruling that found the latter guilty of offering 'Qoin Wallet,' a non-cash payment facility that used the 'Qoin' cryptocurrency token, without an Australian Financial Services Licence (AFSL).

ASIC issues warning over scammers using fake AFSLs

ELIZA BAVIN   The financial regulator said scammers are becoming more sophisticated.

HESTA names chief financial officer

ELIZABETH FRY   With 20 years of experience spanning the finance, healthcare and government sectors, Natalie Kelly was appointed finance chief after serving in an interim capacity since March.

Blue Owl hires from Fidelity for APAC private wealth lead

ELIZA BAVIN   The new managing director and head of APAC private wealth will be based in Hong Kong.

Future Group changes fees for Guild members

JAMIE WILLIAMSON  |    12:43PM   GuildSuper and GuildPension members will see some changes to the fees they pay from this month.

REI Super updates Conservative option

KARREN VERGARA  |    12:28PM   REI Super is rejigging its Conservative investment option and will change the name to "Growth Plus".

OpenMarkets brings on corporate advisory firm

JAMIE WILLIAMSON   The fintech signed a strategic agreement that will see boutique advisory firm Rawson Lewis join its ranks.

Institutional investors eye increased exposure to Vietnam

ANDREW MCKEAN   Most pension fund managers and institutional investors plan to increase their exposure to Vietnam over the next three years, according to research from Dragon Capital.

Succession planning troubles family offices: J.P. Morgan

KARREN VERGARA   Global family offices remain deeply concerned about how to prepare the next generation to inherit a vast fortune as almost 30% do not have a structured approach to help them, a new study from J.P. Morgan reveals.

Wholesale investor tests up for parliamentary review

KARREN VERGARA   The federal government wants to shake up the wholesale investor tests further in launching a parliamentary inquiry into the entire framework, worrying many fund managers operating in the high-net-worth space.