Financial Standard

Adviser numbers close in on 17k

KARREN VERGARA   The number of financial advisers is close to dipping below the 17,000 mark as more than 700 recently exited the industry.

FPA is the preferred association: Research

KARREN VERGARA   The Financial Planning Association holds the lion's share of membership as nearly 40% of advisers report they are part of the professional body.

GIC bolsters Australian real estate JV

KARREN VERGARA   Singapore's sovereign wealth fund GIC expanded its partnership with a local real estate fund manager by injecting its joint venture with an additional $2.4 billion.

KKR acquires real estate manager

ELIZABETH MCARTHUR   KKR will acquire one of the largest real estate managers in Japan, after signing a deal with Mitsubishi and UBS.

TAL wins life company award for 2021

KARREN VERGARA   TAL has taken out the Association of Financial Advisers' 2021 Life Company of the Year Award for the fifth consecutive year.

AIA sells super, investments business

JAMIE WILLIAMSON   AIA is offloading its $8 billion superannuation and investments business to Resolution Life.

SuperConcepts refreshes SuperMate

CHLOE WALKER   SuperConcepts has officially released its new look SMSF software, SuperMate.

SMSFA welcomes ATO adjustments

CHLOE WALKER   The SMSF Association has welcomed adjustments made by the Australian Tax Office (ATO) to align its SMSF performance calculations more closely with the methodology used for APRA-regulated funds.

US, UK hike interest rates

ELIZABETH MCARTHUR   The US Federal Reserve and the Bank of England have increased interest rates - with the US pulling the trigger on rates for the first time since 2018.

ETF Securities, 21Shares introduce market monitor

CHLOE WALKER   In partnership with European cryptocurrency provider 21Shares, ETF Securities Australia has presented the latest crypto market monitor to provide investors insight and analysis around the recent moves in the crypto market.

Super should help secure home loans: Inquiry

JAMIE WILLIAMSON   The inquiry into housing affordability and supply in Australia has recommended first home buyers be able to use their superannuation as collateral for a home.

Disclosure lacking in common ownership: Committee

JAMIE WILLIAMSON   The House of Representatives Standing Committee on Economics has recommended greater disclosure obligations for institutional investors and proxy advisors and for the ACCC to actively monitor common ownership in Australia - all the while sharing little evidence to suggest common ownership results in adverse outcomes.

Milford chair to retire

CHLOE WALKER   Milford Asset Management board chair Mark Cross will retire from the board at the end of June, with a new chair appointed.

VFMC hires from Cbus

JAMIE WILLIAMSON   Victorian Funds Management Corporation will soon welcome a new head of portfolio strategy and asset allocation to its investments team.

HESTA pushes forward with internalisation

ELIZABETH MCARTHUR   The $68 billion industry fund for health workers is pushing forward with an ambitious internalisation program.

Super mergers only beginning: J.P. Morgan

ELIZABETH MCARTHUR   We've only seen the start of consolidation in superannuation, with mergers to accelerate, according to a new survey from J.P. Morgan.

ASX24 outage sparks concern

ELIZABETH MCARTHUR   At 10am yesterday, the ASX identified a hardware related issue with its options and futures market ASX24 and placed it into a halt.

Tiger Trade debuts down under

CHLOE WALKER   The Singapore-based online investing platform launched in Australia last week and has already more than tripled its downloads.

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.