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Editor's Choice

ClearView risk chief joins IOOF

ELIZABETH MCARTHUR
IOOF has appointed ClearView's chief risk officer to a newly created role, with ClearView nabbing the former chief of risk for Commonwealth Bank's wealth management arm.

Verve Super launches gender diversity index

KARREN VERGARA
Verve Super has launched a gender diversity index and will subsequently change how it allocates members' funds based on how Australian companies perform against the index.

Plenary hires team of seven from AMP Capital

ELIZABETH MCARTHUR
Plenary has bolstered its funds management business, nabbing seven professionals who all worked on one AMP Capital fund.

ASIC takes on NAB for fee-for-no service breaches

KARREN VERGARA
The corporate regulator is fighting tooth and nail to make National Australia Bank pay a hefty penalty for charging customers fees in return for no service.

Financial Planning

J.P. Morgan acquires digital wealth manager

ELIZABETH MCARTHUR   J.P. Morgan Chase has acquired a digital wealth manager in a move to further its launch of Chase as a digital bank in the UK later this year.

AAT dismisses adviser ban appeal

KARREN VERGARA   A former RI Advice Group financial adviser's appeal to overturn his permanent banning order has been dismissed by the appeals tribunal.

HSBC makes alternatives push

JAMIE WILLIAMSON   HSBC Asset Management is launching a single business unit dedicated to alternatives with $69 billion in assets, to be led by its current global chief investment officer.

Aussie PE, VC assets hit milestone

KARREN VERGARA   Australian private equity and venture capital firms' assets reached a record high of $18.4 billion (US$14bn), according to new research.

Cost of group insurance declines

KARREN VERGARA   Despite the spate of superannuation funds increasing the cost of cover, new Rainmaker analysis shows group insurance premiums fell by 7% to a four-year low of $8.7 billion.

BT enhances LifeCENTRAL+

KARREN VERGARA   BT's LifeCENTRAL+ can now produce quotes for financial advisers wanting to alter life insurance policies for clients in less than 10 minutes.

UK lender targets SMSFs in Australia

ELIZABETH MCARTHUR   A UK marketplace lender is launching in Australia, targeting wholesale investors and self-managed super funds.

Raiz expands to SMSF market

ANNABELLE DICKSON   The micro-investing platform is targeting SMSFs with its custom portfolio option, giving members more control over their portfolio allocations.

Chinese activity indicators disappoint but growth target intact

BENJAMIN ONG  |    10:59AM   Disappointing. This is the one word that describes the latest batch of activity indicators out of China.

Chief economist update: It's raining jobs

BENJAMIN ONG   According to ABS data, employment in May was higher than it was pre-pandemic. This bodes well for everyone praying for Australia's recovery - so why are financial markets throwing a tantrum at mounting indications we are well on our way?

ASIC takes on NAB for fee-for-no service breaches

KARREN VERGARA   The corporate regulator is fighting tooth and nail to make National Australia Bank pay a hefty penalty for charging customers fees in return for no service.

ASIC drops Regal action

ANNABELLE DICKSON   The Australian Securities and Investments Commission (ASIC) has dropped enforcement action against Regal Funds Management following an investigation in 2019.

AFCA names human resources lead from ME Bank

KARREN VERGARA   The Australian Financial Complaints Authority (AFCA) has appointed a human resources lead, who is currently an executive at ME Bank.

Catholic, Equip SFT to see Fairley exit

JAMIE WILLIAMSON   With Catholic Super and Equipsuper set to officially merge at the end of the month, chair Andrew Fairley will hand over the reins - but he has "no interest in going home to mow the lawns".

Verve Super launches gender diversity index

KARREN VERGARA   Verve Super has launched a gender diversity index and will subsequently change how it allocates members' funds based on how Australian companies perform against the index.

Industry mixed on YFYS

ANNABELLE DICKSON   Industry bodies have varied responses to the passing of the Your Future, Your Super reforms with some saying it will lead to worse outcomes for members.

FinClear to acquire BNY subsidiary

KARREN VERGARA   BNY Mellon is offloading its local execution and settlements business to FinClear for an undisclosed amount.

Fund administrator eyes Australia

KANIKA SOOD   A Singapore-based fund administrator will establish full-service operations in Australia as it sees an opportunity in the local market.

Fisher Investments launches local HNW offering

ELIZABETH MCARTHUR   Fisher Investments will start offering investment management services to high-net-worth private clients via its local subsidiary.

Rich investors not worried about low rates: Citi

KANIKA SOOD   New research from Citi says Australian high-net-worth investors are optimistic despite low interest rates.