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Editor's Choice

State Street creates head of Australia role

JAMIE WILLIAMSON  |   12:35PM
Intensifying its commitment to the Asia Pacific region, State Street has appointed a long serving J.P. Morgan executive as its first country head for Australia.

Former Spectrum chief cops additional bans

KARREN VERGARA  |   12:31PM
Former Spectrum Wealth Advisers chief executive Mark Schroeder has been slapped with banning orders in addition to his six-year ban from providing financial services.

Default MySuper fees drop to 1%: Rainmaker

JAMIE WILLIAMSON  |   12:31PM
New analysis from Rainmaker Information shows about 60% of all MySuper products reduced their fees last financial year, with the average fees paid by members now sitting at 1%.

Octopus Investments bolsters team

ELIZABETH MCARTHUR  |   12:29PM
Octopus Investments, an energy asset manager, has made several appointments after recently surpassing $1 billion in assets under management.

Financial Planning

Former Spectrum chief cops additional bans

KARREN VERGARA  |    12:31PM   Former Spectrum Wealth Advisers chief executive Mark Schroeder has been slapped with banning orders in addition to his six-year ban from providing financial services.

Advisers query super changes

ANNABELLE DICKSON   Financial advisers have been focused on mitigating the impacts of COVID-19 on superannuation for their clients, according to BT.

Abrdn launches new strategy

ELIZABETH MCARTHUR  |    12:32PM   The recently rebranded abrdn has launched a new strategy in Australia.

Scariest themes for investors revealed

ELIZABETH MCARTHUR  |    12:28PM   A new survey from Citi has revealed what fund managers, chief executives and chief financial officers across Australia and New Zealand are most concerned about.

Insurance

Christian Super enhances insurance offering

JAMIE WILLIAMSON   Christian Super is reducing insurance premiums for most of its members, saying the offering now better aligns with what is available at other super funds.

FSC to ban occupational exclusions

ANNABELLE DICKSON   The Financial Services Council (FSC) is introducing an enforceable standard that will prohibit the use of exclusions and restrictive disability definitions in default group life insurance for those who are in high-risk occupations.

CountPlus to acquire Challenger SMSF business

ANNABELLE DICKSON  |    12:17PM   The ASX-listed advice and accounting group is expanding its SMSF offering after finalising terms to acquire Accurium from Challenger.

SMSFs welcome RIC exemption

KARREN VERGARA   The federal government sparing self-managed superannuation funds from the looming Retirement Income Covenant legislation has been welcomed by the sector.

Economic recap: Week to October 15

BENJAMIN ONG   Weekly review of significant economic data, government and central bank action and pronouncements, and other market moving events.

Economic recap: Week to October 8

BENJAMIN ONG   Combine economic stagnation and rising inflation and what do we get? We get stagflation -- the financial markets' fear du'jour.

CFS fined $20m over super misconduct

JAMIE WILLIAMSON   Colonial First State will pay $20 million for misleading members in its FirstChoice Fund.

ASIC looks to extend CFD intervention

ELIZABETH MCARTHUR   The regulator is seeking support from government to extent its product intervention powers on contracts for difference (CFDs) until they are revoked or sunset in 2031.

State Street creates head of Australia role

JAMIE WILLIAMSON  |    12:35PM   Intensifying its commitment to the Asia Pacific region, State Street has appointed a long serving J.P. Morgan executive as its first country head for Australia.

New mining head at Goldman Sachs

ELIZABETH MCARTHUR  |    12:31PM   Goldman Sachs has a new head of metals and mining for Australia and New Zealand.

Default MySuper fees drop to 1%: Rainmaker

JAMIE WILLIAMSON  |    12:31PM   New analysis from Rainmaker Information shows about 60% of all MySuper products reduced their fees last financial year, with the average fees paid by members now sitting at 1%.

Australia improves super system quality

KARREN VERGARA  |    12:27PM   The quality of Australia's superannuation system made marginal improvements and scored highly for its integrity and sustainability, according to a global study.

HUB24 to acquire Class

JAMIE WILLIAMSON   SMSF technology provider Class has agreed to be acquired by HUB24 via a scheme of arrangement.

Active Super revamps digital experience

JAMIE WILLIAMSON   Active Super has launched a new multi-channel member experience in partnership with Link Group, including a mobile app and revitalised online offering.

What family offices want: Report

ELIZABETH MCARTHUR   KPMG Australia and The Table Club have produced a new report revealing how much growth family offices expect from investments and what they want from investment managers.

Cannon-Brookes takes stake in fund manager

JAMIE WILLIAMSON   The Atlassian co-founder has taken an equity stake in a local impact investment firm.