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Editor's Choice

VFMC selects new chair

Victorian Funds Management Corporation has named Lisa Gay as its new chair.

Advice firms must scale up to meet demand: AZ NGA

Financial advice businesses must supercharge their capabilities, expand their capacity, and scale up to reach and serve more Australians.

Coastal Advice Group expands reach

The Newcastle-based group has acquired RI Brighton and Wealth for Life Financial Planning as part of its strategy to become one of the leading financial advice providers in the country.

Vanguard sells outsourced CIO arm to Mercer

Mercer has acquired Vanguard's outsourced chief investment officer (OCIO) function, taking on board its 120-strong team.

Private markets make concrete inroads with advisers

KARREN VERGARA  |    12:51PM   Financial advisers are feeling energised by private markets as fund managers pave the way to make opportunities accessible not only to sophisticated investors but also retail clients more than ever.

Advice firms must scale up to meet demand: AZ NGA

CASSANDRA BALDINI  |    12:44PM   Financial advice businesses must supercharge their capabilities, expand their capacity, and scale up to reach and serve more Australians.

Perpetual explores split following review

CASSANDRA BALDINI  |    12:51PM   Perpetual will explore separating its corporate trust and wealth management businesses, aiming to create a more focused asset management business.

Global X accelerates push to leapfrog local rivals

ANDREW MCKEAN  |    12:43PM   Global X is intensifying efforts to challenge local ETF managers, targeting an ambitious growth in assets under management (AUM) by the end of 2024.

Treasury mulls reforming use of genetic test results by life insurers

JAMIE WILLIAMSON   Treasury is calling for feedback on the use of genetic testing in life insurance underwriting, citing concerns the existing moratorium is ineffective, negatively impacting medical research efforts, and a lack of compliance from insurers.

Insurers drop allocation to risk assets: Research

CASSANDRA BALDINI   Over 80% of insurers are adopting a cautious investment approach, signalling their intent to decrease exposure to risk in the coming six months.

'Should have known better': AAT tells auditor

JAMIE WILLIAMSON   A former auditor who was busted for auditing her own husband's SMSF has seen her disqualification upheld by the Administrative Appeals Tribunal (AAT).

Pepper Money launches SMSF loan offering

CASSANDRA BALDINI   Pepper Money has introduced a new offering, providing loans to self-managed superannuation funds (SMSFs) to purchase or refinance residential and commercial properties.

Interest rates on hold as RBA pauses

CHLOE WALKER  |    12:39PM   In its final decision of the year, the Reserve Bank of Australia (RBA) kept interest rates unchanged at 4.35%.

CPI cools to 4.9%

CASSANDRA BALDINI   The Consumer Price Index (CPI) dropped faster than economists anticipated, coming in at 4.9% in October, a decline from 5.6% in September.

ASIC curbs high-risk offers from online trading providers

ANDREW MCKEAN  |    12:52PM   ASIC has identified a trend among some online trading providers, presenting high-risk investment opportunities to retail investors, a shift emerging amid the fluctuating market conditions and the decline in retail trading activity post-pandemic.

Morningstar cops greenwashing fine

KARREN VERGARA   ASIC slapped Morningstar with a fine for allegedly exposing investors to controversial weapons companies after proclaiming that its environmental, social, and governance (ESG) policy strictly excludes such investments.

VFMC selects new chair

JAMIE WILLIAMSON  |    12:45PM   Victorian Funds Management Corporation has named Lisa Gay as its new chair.

Bravura Solutions executes restructure

CHLOE WALKER  |    12:44PM   Restructuring in line with a new global strategy, Bravura Solutions (Bravura) has promoted Paul Dunn and Chris Spencer to regional chief executives.

Qantas Super takes merger plans to new heights

JAMIE WILLIAMSON   Qantas Super recently provided an update as to its merger plans, including the appointment of a dedicated committee and an outline of the three key issues forcing its hand.

Payday super timing, deliberate: Chalmers

CASSANDRA BALDINI   Treasurer Jim Chalmers has responded to criticism of the government's plans around the introduction of payday superannuation, saying holding off until 2026 is deliberate and will give employers plenty of time to get it right.

Iress upgrades earnings guidance, accelerates transformation

ANDREW MCKEAN   Iress has upgraded its FY23 earnings guidance range from $118 million - $122 million to $123 million - $128 million, a result of its well-executed transformation strategy that stabilised revenues and tempered costs.

Aussie fintech growth counteracted by local challenges: EY

CASSANDRA BALDINI   Australia's fintech sector is showing signs of growth; however, it's still being held back by constrained local capital, complex regulatory challenges, and investor appetite for offshore opportunities.

HNWs require specialist expertise: Report

CHLOE WALKER   To better serve high-net-worth (HNW) clients, financial advisers require a broader range of specialist expertise to meet their complex needs, according to HUB24.

Responsible investment key to wealth transfer conversation

RACHEL ALEMBAKIS   Advisers who incorporate responsible investment into conversations about intergenerational wealth transfer see higher client satisfaction than those who don't, according to new research from Australian Ethical.