Financial Standard

Esencia merges with HNW advice practice

MATTHEW WAI  |    12:18PM   A Sydney-based practice advising high-net-worth individuals is merging with Esencia Wealth, adding some 250 clients and two senior advisers to the firm.

SIAA calls for fresh talent amid advice demand

VINNY VUCAGO   Stockbroking and investment advice firms need to broaden their approach to attracting and retaining talent as the profession prepares for a major shift in clients and wealth, according to a new report from the Stockbrokers and Investment Advisers Association (SIAA).

JOHCM taps Northern Trust for outsourced trading

VINNY VUCAGO  |    12:25PM   Perpetual's J O Hambro Capital Management (JOHCM) has appointed Northern Trust as its sole outsourced trading provider, extending the investment manager's access to global markets, liquidity and broker networks.

Investors price more risk into listed private credit trusts: Morningstar

RIDDHIMA TALWANI   Investors are pricing in more risk for listed private credit vehicles, which are structured as listed investment trusts (LITs), with some trusts trading at a discount of 25% of their net asset value (NAV), according to Morningstar.

Australian life insurers lag global peers: Capgemini

MATTHEW WAI   A new survey from Capgemini found that Australian life insurers are stowed behind the global average when it comes to member engagement and educational efforts.

AIA Australia rolls out TPD CORE

KARREN VERGARA   AIA Australia has launched TPD CORE, a new retail product that charges lower premiums and provides clearer claim assessment criteria for total and permanent disability (TPD).

Russell launches retirement solution

VINNY VUCAGO   Russell Investments has launched retirement solutions comprising two managed portfolios and a retirement calculator, aimed at helping advisers manage the competing liquidity and growth needs of Australians entering retirement.

Half of Australians lack retirement plan: Vanguard

KARREN VERGARA   Nearly half of working-age Australians approaching retirement do not have a retirement plan, raising concerns about long-term financial preparedness and confidence, according to Vanguard.

ECB hikes rates, economists expect RBA might be next

RIDDHIMA TALWANI   The European Central Bank (ECB) has raised the interest rates on the deposit facility by 25 basis points to 2.5%, in a bid to stabilise inflation at its 2% target in the medium term, as conflicts in the Middle East continue to generate inflation pressures.

Labor moves to kill non-compete clauses in productivity push

RIDDHIMA TALWANI   The Labor government has put forward a draft bill to ban non-compete clauses for employees whose earnings are equal to or less than the high-income threshold, in a bid to promote productivity and competition in the broader economy.

Regulatory reform omnibus bill passage trims CSLR levy disallowance period, payouts

KARREN VERGARA  |    12:30PM   The passage of Regulatory Reform Omnibus Bill 2026 overnight will amend how levies are collected under the Compensation Scheme of Last Resort (CSLR) and pay compensation to eligible victims more quickly.

Former adviser charged further on dishonest conduct

RIDDHIMA TALWANI   Former financial adviser and the sole director of Professional Wealth Management, Donald Cuthbertson, has been slapped with 24 offences in the Federal Court of Australia.

WTW names head of corporate for Australia

MATTHEW WAI  |    12:35PM   Willis, a WTW business, has appointed a head of corporate for Australia to lead its property and casualty business across Australia.

First Super appoints new chief executive

KARREN VERGARA   First Super has appointed a new chief executive who was part of LUCRF Super's leadership team for 18 years.

Super turns a safety-net retirement into a comfortable one: ASFA

RIDDHIMA TALWANI  |    12:39PM   A comfortable retirement for a couple who own their own home now costs $1513 a week, according to the latest Association of Superannuation Funds of Australia (ASFA) Retirement Standard, which found that super remains key to comfortable retirement.

Trust emerges as key drivers of super fund loyalty

VINNY VUCAGO   Superannuation fund members are becoming more purposeful in their interactions with funds, while trust has emerged as the clearest driver of loyalty and advocacy, according to new CoreData research.

Automic Group launches full-service fund admin, custody platform

MATTHEW WAI  |    12:46PM   Automic Group has launched its enhanced fund administration and custody platform to deliver an automated and scalable operating model for fund managers, supported by Northern Trust.

Netwealth buys Paradino for $20m

VINNY VUCAGO  |    12:30PM   Netwealth has agreed to acquire Australian advice technology provider Paradino for $20 million upfront in a bid to expand its offering beyond platform administration and into artificial intelligence-enabled advice workflows and automation.

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.

HNWIs demand outperforming, mission-driven endowment funds

KARREN VERGARA   High-net-worth investors' (HNWIs) increasing demand for philanthropy vehicles with robust governance, a clear mission and can outperform in equal measure is helping fuel the rise of endowment funds such as the Aspect Impact Fund.