Financial Standard

CSLR establishment is critical: FPA

CHLOE WALKER   The Financial Planning Association of Australia (FPA) has called out the urgent need for a broad-based Compensation Scheme of Last Resort (CSLR) following ASIC's recent notice for former Dixon Advisory clients to register any complaints with the Australian Financial Complaints Authority (AFCA).

GQG Partners net revenue jumps 21.3%

CASSANDRA BALDINI   GQG Partners (GQG) has reported a 21.3% jump in its net revenue, up US$222.7 million from US$183.5 million last year.

A solution to active fund underperformance

ANDREW MCKEAN   New analysis by VanEck questions why so many investors continue to invest in active funds, saying underperformance by active managers is not a recent phenomenon.

BlackRock launches Bitcoin trust

CASSANDRA BALDINI   Following its recent partnership with Coinbase, BlackRock has doubled down on crypto with the launch of a new Bitcoin private trust for institutional investors.

Certe acquires Genesis Financial Partners

CASSANDRA BALDINI   Certe has acquired Genesis Financial Partners with a vision to create a large, integrated professional services firm with over 20 staff and nine advisers.

Claim support a key skill for advisers: Report

CASSANDRA BALDINI   Financial advisers across Australia now play a greater role in supporting clients through life insurance claims, with almost 80% of advisers saying it's a key part of their offering.

Luxury collectables break records

CHLOE WALKER   Millions of dollars of Rolex watches, Louis Vuitton and Hermes handbags, high-end shoes, jewellery, and other opulent items broke records recently at Lloyds Auctions, in one of the biggest luxury designer auctions ever.

SMSF client education a concern: Report

JAMIE WILLIAMSON   SMSF advisers are calling for more educational content as concerns around client education mount, according to a new report.

China records historic trade surplus

ANDREW MCKEAN   China has posted a record high trade surplus after another month of strong exports; however, headline inflation continued its upward trend.

Business confidence, conditions rally: NAB

ANDREW MCKEAN   National Australia Bank's (NAB) latest business survey reported business confidence has risen above average levels and conditions have strengthened.

ASIC research guides retail investment regulations

ANDREW MCKEAN   ASIC has released a retail investor research report which captures motivations, attitudes and behaviours, helping the regulator determine where its efforts should be concentrated.

Government to review adviser professional standards

JAMIE WILLIAMSON   The government will soon consult on its election promise to remove tertiary education requirements for experienced advisers and look to make improvements to the Code of Ethics.

Brookfield names leadership for asset management business

CASSANDRA BALDINI   Former Bank of England governor Mark Carney will become chair of Brookfield Asset Management when it lists separately in November.

Wellington Management hires from GAM Investments

ELIZABETH FRY   The US$1 trillion asset manager has recruited GAM Investments' senior manager of institutional business.

HESTA, ISPT ink first direct healthcare property deal

RACHEL ALEMBAKIS   HESTA and Industry Super Property Trust have invested $140 million to develop a medical office building in Melbourne, their first direct property acquisition in the healthcare and life sciences sector.

Aussies pay the price for early release of super: ASFA

JAMIE WILLIAMSON   The government's COVID-19 early release of superannuation scheme saw the closure or near emptying of almost one million member accounts, largely held by women, single parents and the unemployed.

Aussie crypto investors bullish despite market volatility

CHLOE WALKER   Digital investment platform Syfe has released new findings from an independent investor survey, coinciding with the launch of its product to the Australian market.

CHESS replacement delayed further, review underway

JAMIE WILLIAMSON   The ASX has commissioned an independent review of its long-delayed CHESS replacement to enable the bourse to set a realistic go-live date, saying current indications suggest it won't launch before late 2024.

Besen-backed firm buys babywear group

CHLOE WALKER   Arcus Partners, backed by Daniel Besen's family office, has acquired Snuggle Hunny Kids.

EG private wealth syndicate sells off industrial site

CHLOE WALKER   EG has sold an industrial site in Sydney's Northern Beaches for $26 million, realising returns in excess of 27% per annum over a 2.5-year period.