Financial Standard

MetLife upgrades adviser platform

KARREN VERGARA   MetLife Australia unveiled a new digital platform for financial advisers to cater to regulatory and product changes that took effect this month.

Exam pass rate steady at 60%

KARREN VERGARA   The September financial adviser exam pass rate was stable at 60% but continues to fall below the overall pass rate of 88.5%.

Superhero raise takes it across the ditch

KARREN VERGARA   Share trading platform Superhero will take the $40 million it has raised this year to expand into New Zealand by mid-2022.

Macquarie Equities awards back-office mandate

KARREN VERGARA   Macquarie Equities awarded a third-party clearing and settlements mandate to Third Party Platform.

MLC Life wins group mandate

JAMIE WILLIAMSON   MLC Life has been handed a new group insurance mandate from a retail superannuation provider.

Christian Super enhances insurance offering

JAMIE WILLIAMSON   Christian Super is reducing insurance premiums for most of its members, saying the offering now better aligns with what is available at other super funds.

CountPlus to acquire Challenger SMSF business

ANNABELLE DICKSON   The ASX-listed advice and accounting group is expanding its SMSF offering after finalising terms to acquire Accurium from Challenger.

SMSFs welcome RIC exemption

KARREN VERGARA   The federal government sparing self-managed superannuation funds from the looming Retirement Income Covenant legislation has been welcomed by the sector.

Tasmania remains best performing state: CommSec

ANNABELLE DICKSON   Tasmania has retained its status for the seventh consecutive quarter of having the best-performing economy in Australia, CommSec research shows.

Economic recap: Week to October 22

BENJAMIN ONG   Weekly review of significant economic data, government and central bank action and pronouncements, and other market moving events.

No proof of member benefit: APRA on super fund spends

JAMIE WILLIAMSON   APRA has found instances of expenditure by superannuation funds that does not meet the best financial interests of members, including sponsorship deals and advertising spends with no evidence of member benefit.

Australian corporate bond overhaul

ELIZABETH MCARTHUR   The House of Representatives Standing Committee on Tax and Revenue has released a report aimed at overhauling Australia's corporate bond market.

AFCA appoints senior ombudsmen

JAMIE WILLIAMSON   In what is a newly created role at the industry body, internal promotions have seen the appointment of seven senior ombudsmen.

Law firm adds financial services partner

JAMIE WILLIAMSON   Corrs Chambers Westgarth has appointed a new partner in financial services regulatory specialist Steven Rice.

Government-run super would leave members worse off: ISA

KARREN VERGARA   New modelling from Industry Super Australia finds that the establishment of a government-run fund would see a member $126,000 worse off at retirement.

HESTA pushes for net zero legislation

KARREN VERGARA   The federal government's refusal to commit to net zero by 2050 will lead to Australia losing a massive amount of green foreign investment, superannuation fund HESTA warned.

eToro expands crypto offering

JAMIE WILLIAMSON   The multi-asset investment platform has added 15 new cryptoassets to its platform for local investors and will introduce staking from next week.

BT identifies Panorama outage cause

ELIZABETH MCARTHUR   BT has identified the cause of its $147 billion platform being down for a week, with new chief executive Matt Rady making assurances for the future.

Joining the 1% around the world: Analysis

ELIZABETH MCARTHUR   New analysis reveals that Australians would have to work 66 years and five months to join the country's wealthiest 1%, while Chinese workers would need more than 101 years in the workforce to join China's 1%.

Family offices back Regal resources fund

ELIZABETH MCARTHUR   A small group of family offices have backed a new long/short resources fund from Regal Funds Management to the tune of $90 million.