Financial Standard

Fortnum, PFS launch parent company

KARREN VERGARA   Fortnum Private Wealth and its newly acquired advice business Professional Financial Services (PFS) will operate under a newly launched parent company brand, Entireti.

Court approves $16m DASS settlement

KARREN VERGARA   The Federal Court has approved the settlement reached in the $16 million class action brought against Dixon Advisory & Superannuation Services (DASS) following a two-week delay.

Franklin Templeton's Brandywine Global launches new fund

ANDREW MCKEAN  |    12:48PM   Franklin Templeton investment manager Brandywine Global has expanded its product suite with the launch of a Global Opportunistic Equity Fund for Australian investors.

First Sentier axes investment units, AUM takes $14bn hit

KARREN VERGARA  |    12:39PM   First Sentier Investors (FSI) is shuttering four investment teams, seeing the exit of 30 professionals by the end of the year and the loss of about $14 billion in assets under management.

UniSuper selects new group insurer

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

Life insurers struggle with code compliance

KARREN VERGARA   Life insurers continue to breach their own compliance code with more than 12,000 instances recorded, yet the body overseeing their conduct fears this is likely under-reported.

intelliflo adds SMSF cashflow modelling capabilities

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

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA   Financial advisers must be mindful of the "legal uncertainty" that exists when applying the appropriate wholesale test on self-managed super funds (SMSF), according to the Australian Financial Complaints Authority (AFCA).

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.

Australia's budget position ranks second among G20 nations

ANDREW MCKEAN   Australia's budget balance as a share of gross domestic product (GDP) was second among G20 nations last year, improving from 14th in 2021, according to the International Monetary Fund (IMF).

Auditors lambast mandatory climate reporting requirements

ELIZA BAVIN  |    11:44AM   The peak accounting body said most auditors believe the government's mandatory reporting rules are a "significant miscalculation".

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |    11:40AM   ASIC determined JB Markets failed to meet its general obligations.

JANA appoints new director of client development

ELIZA BAVIN  |    11:46AM   The new appointment previously worked for APSEC Funds Management.

TCorp promotes three to lead roles

ELIZABETH FRY   TCorp, the NSW government's investment and financial management arm, has strengthened its client relationship team with three important promotions.

Actuaries Institute proposes new performance test measure

ANDREW MCKEAN  |    12:47PM   The Actuaries Institute has proposed revising the annual superannuation performance test, so it better aligns trustees' investments with the best financial interests of members.

OneSuper to take on more super products

JAMIE WILLIAMSON   Following on from the news that it would now be home to Spaceship Super, OneSuper will further bolster its funds under management through the transfer of another sub-plan, home to several super products.

The Aussie wealthtech firms that are 'most innovative'

ANDREW MCKEAN   The annual list of the world's most innovative wealthtech companies was recently released, with several Australian firms making the cut.

GBST develops private equity platform

ANDREW MCKEAN   Wealth management software business GBST has collaborated with Luna Partners to create a technology platform that connects investors and managers to the wholesale private equity market.

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.

ACNC tightens screws on NFPs with complex corporate structures

JAMIE WILLIAMSON   The Australian Charities and Not-for-profits Commission (ACNC) announced it will focus on the misuse of complex corporate structures this year.