Financial Standard

Advised cover faces claims data test

VINNY VUCAGO   Group superannuation insurance appears to outperform individual advised cover on some claim's measures, raising questions about the value of advice when it comes to protecting clients against disability.

ASIC stalls Sequoia bid to ditch cross guarantee deed

KARREN VERGARA   ASIC is again putting up roadblocks to Sequoia Financial Group's attempt to revoke the deed of cross guarantee with InterPrac Financial Planning, asking more questions and requesting more information before the group rids itself of all liabilities arising from the Shield and First Guardian disaster.

MA Financial locks down flagship private credit fund, shutters another

KARREN VERGARA   MA Financial has now suspended all redemptions and applications to its MA Secured Loan Series Fund and will also wind up the MA Secured Real Estate Income Fund.

Channel Capital wins distribution mandate

MATTHEW WAI   Channel Capital has been appointed by Coller EQT to distribute, promote and service investor support to the two secondaries strategies currently available in Australia.

TPD claims drive insurance disputes

VINNY VUCAGO   Australia's life insurers continue to accept most claims, but total and permanent disability (TPD) and disability income insurance claims remain the main sources of disputes and delays, according to the latest data from APRA and ASIC.

Genetic testing ban takes effect for life insurance

VINNY VUCAGO   Australians can access genetic testing without risking discrimination in life insurance under a new ban that took effect on October 8, with the Australian Financial Complaints Authority (AFCA) also updating its rules to handle complaints involving adverse genetic test results.

Guaranteed income gives retirees 'licence to spend': JPMAM

RIDDHIMA TALWANI   Retirees with a higher share of guaranteed income spend 44% more, according to J.P. Morgan Asset Management (JPMAM) portfolio manager and head of target date strategies Daniel Oldroyd.

Rent stress threatens retirement security

VINNY VUCAGO   Declining home ownership is deepening Australia's housing divide, with lower-income households facing growing rental stress and potentially entering retirement with significantly less wealth, according to the Actuaries Institute.

Affordable housing eligibility routinely overlooked: CEDA

KARREN VERGARA   New research shows Australia is not targeting its affordable housing stock correctly, leaving about 19,000 families on social housing waitlists that truly need and are entitled to it.

Executives prioritise protecting capital, managing macroeconomic volatility: MSCI

KARREN VERGARA   Protecting access to capital and absorbing macroeconomic volatility are top of mind for the executives of publicly listed companies amid ongoing uncertainty and rapidly changing capital markets, a new survey shows.

ASIC investigates potential $138m scam

ELIZA BAVIN   ASIC has confirmed it is actively investigating potential failures linked to MGF Capital, and its sole director - a former Goldman Sachs trader - over concerns at least $138 million of Australian investor funds have been lost.

Adviser stripped of AFSL he claimed he didn't hold

MATTHEW WAI   ASIC has ceased the Australian financial services licence of a New South Wales financial adviser after he failed to comply with licensee obligations, including payment to statutory levies.

ESSSuper names CEO

STAFF WRITER   The board of ESSSuper has announced a new chief executive following Robbie Campo's departure in August.

Former super ombudsman joins HESTA

MICHELLE BALTAZAR   HESTA beefs up its member engagement expertise after appointing a former AFCA ombudsman as an external adviser to the fund.

ART rolls out new investment technology platform

VINNY VUCAGO   Australian Retirement Trust (ART) has launched a new portfolio management system as the $375 billion superannuation fund strengthens its investment capabilities targeting further growth.

ATO sets sights on 'predatory practices' to access super

MATTHEW WAI   The ATO noted there has been a decrease in compassionate release of super, which it said was promising, however it remains concerned about predatory practices from health practitioners attempting to access super for financial gain.

Advice firms lacking AI integration: Iress

VINNY VUCAGO   Artificial intelligence (AI) is delivering productivity gains across financial advice, but only 7% of practices have embedded the technology across most of their workflows, research from Iress has found.

Finura brings AI engineering in house with merger

MATTHEW WAI   Finura Group has merged with a software engineering business to bring artificial intelligence agent technology and sovereign cloud services in house.

Australia's family offices surpass $323bn in assets

RIDDHIMA TALWANI   Family offices in Australia have surpassed $323 billion in assets, according to data from Rainmaker Information.

Mining, property fuel Aussie billionaires' wealth

KARREN VERGARA   Australian billionaires' riches are highly concentrated in mining, financial services, technology and property, accounting for 0.7% of the total US$15.1 trillion in global wealth studied by the 2026 Billionaire Census.