Financial Standard

Advice firm rebrands, scores own AFSL

KARREN VERGARA   The move to self-licensing continues to grow as a Victoria-based advice practice scored its own AFSL after operating under a dealer group for 13 years.

Advice industry loses 800 over New Year period

KARREN VERGARA   The exit of 807 advisers during the Christmas and New Year break leaves the total population close to dipping below the 18,000 mark.

Australia bucks concentration trend

ELIZABETH MCARTHUR   New research on equity markets from S&P shows the ASX 200 has become more diversified as markets around the world have become more concentrated.

Munro launches fund on ASX

ELIZABETH MCARTHUR   Munro Partners and GSFM have launched the Munro Climate Change Leaders Fund on the ASX under ticker MCCL.

Life insurers to embrace risky assets

KARREN VERGARA   Life insurers will take on more risks and shun safe-haven assets in a bid to bump up returns in 2022.

Super fund appoints new insurer

JAMIE WILLIAMSON   Having had separate insurance arrangements to date, next year will see Equip and Catholic Super adopt the same insurer - putting an end to some longstanding arrangements.

Financial watchdog warns on crypto

CHLOE WALKER   In a public statement this week, the Australian Securities and Investment Commission (ASIC) has issued a warning urging self-managed super funds (SMSFs) to consider the risks of cryptocurrency investments.

DomaCom hits $100m in FUM

CHLOE WALKER   DomaCom has reported growth in recent months, with its funds under management having now exceeded the $100 million mark.

Inflation to retreat in 2022: Fund manager

KARREN VERGARA   Investors should not fear high levels of inflation as it will diminish by the end of 2022, one fund manager predicts.

Water, water everywhere but nothing to drink

BENJAMIN ONG   Throwing more money to shore up economic activity only makes the fire of inflation burn even more. Then again, not doing so to tame escalating price increases risks sending employment and incomes and profits and economic growth and investment fortunes on the reverse.

ASIC reviews ETP naming conventions

KARREN VERGARA   ASIC is proposing to overhaul the naming conventions of exchange-traded products so that the names are "true to label".

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER   The Federal Court has imposed combined penalties of $4 million on Statewide Super for providing members with misleading information regarding their insurance and failing to report the issue to ASIC in the time required.

BNP Paribas AM appoints wholesale distribution head

JAMIE WILLIAMSON   BNP Paribas Asset Management promoted from within to fill the role of head of wholesale distribution for Australia and New Zealand.

GPT Group restructures

CHLOE WALKER   GPT Group (GPT) has announced today changes to its leadership team and adjustments to its organisational structure.

Former Spaceship chief executive banned

JAMIE WILLIAMSON   The former chief executive of Spaceship has been banned from providing financial services after ASIC found he had an employee complete AICD assessments on his behalf.

YFYS could dampen ESG adoption: Research

KARREN VERGARA   The Your Future, Your Super reforms could potentially threaten the adoption of sustainable investing strategies, new research from Parametric shows.

Use of cryptos to boom in 2022: Research

JAMIE WILLIAMSON   One billion people will own some form of cryptocurrency by the end of 2022, new research suggests.

Federal Reserve mulls central bank digital currency

JAMIE WILLIAMSON   The US Federal Reserve Board is examining the pros and cons of a central bank digital currency (CBDC) as it considers whether the creation of one would improve the domestic payments system.

Wealthy overlook digital experience

KARREN VERGARA   Wealthy investors tend to shun technology and prefer to keep track of their assets manually, according to Praemium.

Domestic bias swells for HNWIs

KARREN VERGARA   Cash, and local equities and property continue to be the preferred asset classes of the rich, according to a new report.