Financial Standard

Three universities ditch financial planning courses

KARREN VERGARA  |    12:37PM   Three major universities have pulled the plug on their financial planning courses due to the lack of student interest in a major blow for the profession as it struggles to attract new entrants.

FAAA slams 'underlying issues' in CSLR

ELIZA BAVIN   The FAAA has made a submission to the Senate Economics Committee calling out underlying issues brought to the fore by the establishment of the CSLR.

TCorp buys Euroclear stake from LSEG

JAMIE WILLIAMSON  |    12:48PM   TCorp is now a minority owner of financial markets infrastructure company Euroclear.

ETF industry scales to new heights: VanEck

ANDREW MCKEAN  |    12:47PM   According to the VanEck ETF Industry Pulse for November 2024, the Australian ETF industry reached a record $243 billion in funds under management, bringing it closer to $250 billion.

Colonial First State completes group insurance review

JAMIE WILLIAMSON   Following a review of its group insurance arrangements, Colonial First State (CFS) has renewed its mandate with AIA.

MLC Life and Resolution Life Australasia to merge

ELIZA BAVIN   The merger, which also includes a rebrand, is set to create one of the largest life insurance businesses in Australia.

SMSFs surpass $1tn milestone

MATTHEW WAI   The latest statistics from the Australian Taxation Office (ATO) show the total assets held within self-managed superannuation funds (SMSFs) hit $1.02 trillion at September end.

Growth of SMSFs, Div 296 opportunity for advisers

MATTHEW WAI   A new report published by the SMSF software provider has revealed growing opportunity for financial advisers and demonstrates the potentially detrimental effect of the proposed Division 296 tax.

Unemployment drops below 4%

ELIZA BAVIN   The unemployment rate has fallen below 4%, according to the newest data from the Australian Bureau of Statistics.

RBA 'paves way' for February rate cut

ELIZA BAVIN   After a year of defiantly leaving interest rates on hold, the RBA has given the first glimmer of hope a rate cut may come in the first half of 2025.

Crypto operator to fork out millions after court ruling

ANDREW MCKEAN  |    12:39PM   Bit Trade, the operator of the Kraken Exchange in Australia, has been slapped with an $8 million fine for "unlawfully issuing a credit facility to more than 1100 customers."

AFCA completes independent review of operations

ELIZA BAVIN   AFCA said the review had redefined its approach to external dispute resolution.

TAL creates consumer and growth unit

MATTHEW WAI   The life insurer has promoted a sales and marketing executive to lead its consumer and growth team.

Danielle Press joins Income Asset Management

JAMIE WILLIAMSON   Former ASIC commissioner Danielle Press joined Income Asset Management, as the company launches a bond ETF.

Active Super transfers members to Challenger

JAMIE WILLIAMSON   Challenger will take over Active Super's Guaranteed Income offering after it was determined transferring these member accounts to Vision Super would not be in their best interests.

Funds are 'getting back to basics', says report

ANDREW MCKEAN   Global public pension funds and sovereign funds are refocusing on generating long-term returns, generally targeting opportunities in private markets, emerging markets, and green assets, according to the Official Monetary and Financial Institutions Forum (OMFIF) Global Public Funds 2024 report.

First Sentier expands mandate with Northern Trust

MATTHEW WAI   Northern Trust will offer a range of front-to-back solutions as third-party administrator for First Sentier Investors under an extended agreement.

Praemium partners to bring structured products to HNWIs

MATTHEW WAI   Praemium inked a deal with Stropro, an alternative investment platform, to offer financial advisers improved access to structured products to better meet the evolving needs of their high-net-worth (HNW) clients.

Renewable infrastructure opportunities for HNWIs

ELIZA BAVIN  |    3:10PM   Private credit in renewable infrastructure offers specific exposure to renewables, with high capital costs and low operating costs, providing attractive risk-adjusted returns.

Family office investment lead joins TCorp

ELIZABETH FRY   One of Australia's oldest family offices is farewelling its head of investment who plans to join TCorp in the new year.