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Editor's Choice

Older clients boost book values

KARREN VERGARA  |   12:38PM
A client book full of older clients are fetching a higher premium compared to last year, new advice practice valuations show.

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |   12:42PM
The Super Members Council (SMC) has revived its predecessor's calls to extend anti-hawking legislation, slamming a sub-set of financial advisers using social media posts and cold calling to drum up business.

ASX advances CHESS replacement project

ANDREW MCKEAN  |   12:45PM
The ASX announced today that the CHESS replacement project has entered the delivery phase.

BlackRock launches new government bond ETF

ELIZA BAVIN  |   12:29PM
The 15+ year Australian government bond is part of BlackRock's commitment to expand its iShares product suite.

Older clients boost book values

KARREN VERGARA  |    12:38PM   A client book full of older clients are fetching a higher premium compared to last year, new advice practice valuations show.

Advice reforms draft laws consultation opens

KARREN VERGARA   Draft regulation of the first tranche of the Delivering Better Financial Outcomes reform package is now up for consultation.

BlackRock launches new government bond ETF

ELIZA BAVIN  |    12:29PM   The 15+ year Australian government bond is part of BlackRock's commitment to expand its iShares product suite.

Lazard enters local ETF industry with infra offering

JAMIE WILLIAMSON   Lazard Asset Management is now offering ETFs in Australia, kicking off with a global listed infrastructure active ETF.

MIESF adjusts insurance premiums

ANDREW MCKEAN   Meat Industry Employees' Superannuation Fund (MIESF) will increase total and permanent disability (TPD) insurance premiums by 5.4%, effective July 1.

ClearView closes ClearChoice Super Rollover, launches trauma options

KARREN VERGARA   ClearView has made changes to its ClearChoice product series, including the launch of trauma options, and is closing its ClearChoice Super Rollover product.

SMSFs' use of advisers plummets: Research

ANDREW MCKEAN   The number of self-managed super funds (SMSFs) using advisers has reached a new low, with the proportion of SMSFs using advisers falling to 23% from 27% in the past 12 months, according to a Vanguard/Investment Trends report.

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA   The proposed 30% tax on large superannuation balances must clarify the confusion surrounding legacy pensions and reserves, and how they should be calculated, according to the SMSF Association (SMSFA).

What's keeping the Treasurer up at night?

ANDREW MCKEAN  |    12:41PM   Treasurer Jim Chalmers said at the Morgan Stanley Australia Summit in Sydney yesterday that a key goal of the Budget was to fight inflation in a way that doesn't damage an already weak economy.

US looks towards rate cuts, Australia lags behind

ELIZA BAVIN  |    12:35PM   US Reserve chair Jerome Powell pivots and then pivots again, indicating the US central bank could cut interest rates once this year.

ASIC issues first stop order for crowd funding

ELIZA BAVIN  |    12:48PM   In a first of its kind crackdown, the financial regulator has issued a stop order against a crowd-sourced funding platform.

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |    12:42PM   The Super Members Council (SMC) has revived its predecessor's calls to extend anti-hawking legislation, slamming a sub-set of financial advisers using social media posts and cold calling to drum up business.

Northern Trust Asset Management hires head of global ETFs, funds

JAMIE WILLIAMSON  |    12:49PM   Northern Trust Asset Management (NTAM) will welcome David Abner as head of global ETFs and funds.

Ausbil executive departs after 23 years

ELIZA BAVIN  |    9:57AM   Ausbil also announced a raft of management changes as it focusses on its growth strategy.

Performance test covers managed accounts, SMAs: APRA

KARREN VERGARA   The prudential regulator is reminding trustees that managed accounts and separately managed accounts (SMAs) are high on its radar when administering the performance test.

AustralianSuper bears brunt of complaints: AFCA

KARREN VERGARA   AustralianSuper copped the highest number of complaints in the last six months of 2023 totalling 936, which was nearly three times more than other major super funds like Cbus, Australian Retirement Trust (ART), and Aware Super.

Technology

ASX advances CHESS replacement project

ANDREW MCKEAN  |    12:45PM   The ASX announced today that the CHESS replacement project has entered the delivery phase.

AMP North launches new tool

ANDREW MCKEAN   AMP North has launched a new tool for financial advisers to support client review reports.

HNWIs wealth reaches unprecedented levels

ANDREW MCKEAN   The Capgemini Research Institute's World Wealth Report 2024, released today, shows high-net-worth individuals (HNWIs) and their wealth hit unprecedented levels in 2023, driven by a rebound in the global economic outlook.

Geopolitical risks push APAC family office allocations locally

KARREN VERGARA   Geopolitical risks are dictating how family offices in the Asia Pacific invest as more intend to shift asset allocations to their home regions, according to UBS.