Financial Standard

Rate rise exposes adviser knowledge gap

CHLOE WALKER   As interest rates rise and inflation grows, some are lamenting a possible knowledge and experience gap in the industry, with a considerable number of financial advisers having only ever known a low inflation environment.

How AMP plans to bounce back

JAMIE WILLIAMSON   AMP's chair has explained how the group intends to improve its financial performance, while Alexis George outlined how the 173-year-old company will be transformed, with a strong focus on the retirement space.

Fossil fuel divestment bill passes California Senate

JAMIE WILLIAMSON   The California Senate passed a bill overnight prohibit the United States' two largest public pension funds from investing in the world's top 200 fossil fuel companies and require them to divest any existing holdings by 2030.

Vanguard terminates multi-factor active ETF

JAMIE WILLIAMSON   Three years on from listing as the first of its kind on the ASX, the Vanguard Global Multi-Factor Active ETF (Managed Fund) will be terminated next month.

Risk inflows hit $17.6bn last year: Analysis

JAMIE WILLIAMSON   Risk inflows grew 5.5% in 2021, with MetLife, NobleOak and QInsure seeing the greatest growth.

MLC Life Insurance joins forces with Insignia Financial

ANDREW MCKEAN   MLC Life Insurance has partnered with Insignia Financial to launch a digital claims service.

Managed account market reaches $175bn

CHLOE WALKER   Funds under administration (FUA) in managed accounts platforms increased by almost 50% per annum in the last three years alone, according to Rainmaker Information.

SMSF establishments on the rise

ELIZABETH MCARTHUR   New research shows that the pandemic and inflation concerns have not blunted the enthusiasm of Australians for setting up self-managed super funds.

US Fed indicates several more half-percentage rate rises

ANDREW MCKEAN   At the latest Federal Reserve meeting most participants agreed that 50 basis point increases would likely be implemented in the coming months.

Pandemic created a new billionaire every 30 hours: Oxfam

CHLOE WALKER   Billionaire wealth soared during and after the pandemic, with a new billionaire created every 30 hours in 2022, a new Oxfam International brief reveals.

SEC proposes new disclosure for ESG funds

RACHEL ALEMBAKIS   The US Securities and Exchange Commission (SEC) has proposed a disclosure regime for ESG-related funds and advisers that would see funds broken down into three categories of strategies.

BNY Mellon subsidiary to pay US$1.5m over ESG misstatements

CASSANDRA BALDINI   BNY Mellon Investment Adviser will pay US$1.5 million to settle charges brought by the Securities and Exchange Commission (SEC) for misstatements and omissions about ESG considerations in making investment decisions for certain mutual funds that it managed.

Frontier adds to real assets team

CASSANDRA BALDINI   Frontier has announced property specialist Shrabastee Mallik as a senior consultant based in Sydney.

Future Generation welcomes Mike Baird as new chair

CASSANDRA BALDINI   Future Generation today announced Mike Baird will join the company's board of directors as its new chair.

ClearView consolidates super, pension plans

JAMIE WILLIAMSON   ClearView undertook an intra-fund transfer last week, closing a more than 30-year-old superannuation and pension offering.

Super funds to reach $1tn by 2040: KPMG

ANDREW MCKEAN   A recently released KPMG Super Insights report shows Australia could have at least two super funds with over $1 trillion in assets in the next 20 years.

State Street plans local ETF portal launch

JAMIE WILLIAMSON   Following its launch in Singapore this week, State Street plans to roll out its Fund Connect ETF portal in Australia.

Westpac architects new institutional banking platform

ANDREW MCKEAN   Westpac has begun work on a new transactional platform for institutional clients, using UK technology provider 10x Banking to provide the core technology.

More UHNWIs than ever: Report

CHLOE WALKER   The number of ultra-high-net-worth individuals worldwide climbed by almost 10% last year despite the ongoing pandemic, new Knight Frank research shows.

Coterie invests in wealth platform

KARREN VERGARA   Coterie Capital has invested in a wealth management platform that has grown to $10 billion in funds under administration.