Financial Standard

Clime to offload Madison Financial Group

JAMIE WILLIAMSON   Clime Investment Management will sell Madison Financial Group and managed accounts platform WealthPortal to Infocus for $2 million.

Platform reveals advice firms' top issues

KARREN VERGARA   Practice management, advice technology, and superannuation are top of mind for financial advisers who want to improve their aptitude and knowledge, according to professional networking platform Ensombl.

REIT returns to come back strong: Expert

ELIZA BAVIN  |    12:14PM   Higher interest rates and the post-COVID world have led to some underperformance in the real estate sector, but returns are expected to get back to their historic levels, according to one expert.

Market pessimism over Insignia 'overblown'

ELIZA BAVIN  |    12:12PM   Sluggish flows, restructuring challenges and deteriorating debt coverage may have investors spooked, but one analyst says it's not all bad.

ClearView closes ClearChoice Super Rollover, launches trauma options

KARREN VERGARA   ClearView has made changes to its ClearChoice product series, including the launch of trauma options, and is closing its ClearChoice Super Rollover product.

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.

SMSFs' use of advisers plummets: Research

ANDREW MCKEAN   The number of self-managed super funds (SMSFs) using advisers has reached a new low, with the proportion of SMSFs using advisers falling to 23% from 27% in the past 12 months, according to a Vanguard/Investment Trends report.

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).

Financial services workers eye earlier retirement

KARREN VERGARA   Men and women who work in financial services intend to retire earlier compared to the average worker, new data from the Australian Bureau of Statistics (ABS) reveals.

RBA hints another rate rise could be on the cards

ELIZA BAVIN   The Reserve Bank board confirmed it considered hiking interest rates in May.

Former Queensland adviser struck off permanently

ANDREW MCKEAN  |    12:10PM   Former Sunshine Coast financial adviser Brett Gordon has been permanently banned from providing financial services and engaging in credit activities following his conviction for fraud offences last month.

Former director sentenced to seven years in prison

ELIZA BAVIN   The former director of an unlicensed foreign exchange business will serve seven years and three months in prison for fraud.

VFMC hires client portfolio design head

KARREN VERGARA  |    12:37PM   Victoria Funds Management Corporation (VFMC) named a new head of client portfolio design who joined this week.

Koda Capital poaches five JBWere advisers

KARREN VERGARA  |    12:31PM   Five JBWere financial advisers will jump ship to Koda Capital as the latter expands its presence in Melbourne.

Super pool jumps to $3.9tn

KARREN VERGARA  |    12:30PM   Superannuation assets soared to $3.9 trillion, jumping 11.3% at the end of March despite the number of APRA-regulated funds shrinking.

How much do you need to retire in Australia?

ANDREW MCKEAN  |    11:56AM   The Association of Superannuation Funds Australia (ASFA) has revealed that the cost of funding a "comfortable retirement" has risen to a record high.

The rising role and risks of generative AI

ANDREW MCKEAN   Generative AI, a rapidly advancing form of deep learning that mimics human output, also raises concerns about the verifiability of its results, UTS industry professor - emerging technology Nicholas Davis says.

Iress breach extends to OneVue business

JAMIE WILLIAMSON   Iress has confirmed the breach it was victim to over the weekend was worse than first thought, having spread to the recently offloaded OneVue business.

Geopolitical risks push APAC family office allocations locally

KARREN VERGARA   Geopolitical risks are dictating how family offices in the Asia Pacific invest as more intend to shift asset allocations to their home regions, according to UBS.

Family offices up active management, eye generative AI: UBS

ANDREW MCKEAN   Family offices are increasingly turning to active management or manager selection to diversify portfolios, according to the latest UBS Global Family Office Report.