Financial Standard

Netwealth expands Morgan Stanley mandate

KARREN VERGARA   Amid expanding its stockbroking and private wealth capabilities, Netwealth has been picked by Morgan Stanley to provide a platform solution to its Australian wealth business.

AUSIEX launches cash account for advisers

RIDDHIMA TALWANI   AUSIEX has launched a cash account to help financial advisers manage client cash seamlessly alongside trading accounts.

arcpoint OCIO scores more mandates, Larapinta Private launches

KARREN VERGARA   Recently launched arcpoint OCIO has won three mandates including securing wealth manager and family office Larapinta Private, a new venture set up by a former Koda Capital partner.

Super funds to reap returns from $2.2bn biotech exit

RIDDHIMA TALWANI   Brandon Capital, a life sciences venture capital firm has exited from its investment in Myricx Bio, following its agreement to be acquired by Novartis for US$1.5 billion ($2.2bn).

Final report into Life Code makes 85 recommendations

MATTHEW WAI   The final report of an independent review of the Life Insurance Code of Practice has been finalised, proposing some 85 recommendations across aspects of mental health, customer vulnerability, claims handling, and sales practices.

Treasury releases adverse genetic test results ban draft regulation

KARREN VERGARA   Treasury is seeking feedback on draft regulations that ban the use of adverse genetic test results in life insurance, which come into effect on October 8.

Lack of awareness impacts retirement satisfaction: TAL

MATTHEW WAI   New research indicates that although around 90% of retirees selecting pension accounts or lifetime income streams were satisfied with their decision, less than two in five (38%) pre-retirees understood how those products work.

Investment performance will not help smaller balances: Research

MATTHEW WAI   Recent research from Monash University demonstrated retirees will require a balance above $400,000 to achieve sustainable retirement without investment-related constraints.

Inflation cools, RBA facing 'uncomfortable trade-off'

ELIZA BAVIN   While inflation has cooled, it remains stubbornly above the Reserve Bank's target range, putting the central bank in a tricky position, experts say.

Vale Alan Greenspan

ELIZA BAVIN   The American economist and former chair of the Federal Reserve passed away at 100 years old.

ASIC sheds light on voluntary administration outcomes

VINNY VUCAGO   ASIC has published its first comprehensive review of voluntary administration (VAs) and deeds of company arrangement (DOCAs).

ASIC cancels AFSL of Capital Guard over fake bond sale

ELIZA BAVIN   ASIC has cancelled the AFSL of Capital Guard after finding it had engaged in dishonest conduct, including the selling of a fake bond.

BNP Paribas Asset Management ANZ chief exits

KARREN VERGARA   The long-serving chief executive of BNP Paribas Asset Management's local business has left the company.

Mosaic Private names investment chief

MATTHEW WAI   Mosaic Private, the private credit fund manager backed by Flight Centre Travel Group co-founder Geoff Harris' family office, has named its chief investment officer, joining from Centuria Bass Credit.

Rest, Aware now part owners of Moorabbin Airport

KARREN VERGARA   Rest, Aware Super and Barings are the new owners of Moorabbin Airport, which was acquired from Goodman Group for $1.5 billion.

Retirement confidence slides in Australia

VINNY VUCAGO   Australians are feeling less confident about retirement, with retiree confidence and pre-retirement preparedness falling sharply over the past six months.

EQT to acquire Australian parking technology provider

VINNY VUCAGO   Global private markets firm EQT have agreed to acquire Australian parking technology provider Orikan.

ICS secures mandate for UK specialist fund manager

MATTHEW WAI   Investment Control Systems has been selected to provide strategic investment data management and analytics solution for a UK specialist fund manager via its ATHENA platform.

Australia welcomes 25k to millionaires' club: UBS

KARREN VERGARA   Australia's club of millionaires jumped by 25,000 last year thanks to booming property values and fat superannuation balances, according to the lasts UBS Global Wealth Report.

Family office succession takes back seat to investments

KARREN VERGARA   While family offices have investment strategies down pat, the state of their succession plans paint another story, which reports suggest could undermine a seamless transfer of a vast amount of wealth.