Financial Standard

Research digs into HNW investment preferences

MATTHEW WAI   According to new research from Praemium, high-net-worth (HNW) investors with stronger balances are typically tipping more into alternatives.

Dixon Advisory clients should be heard at Senate inquiry: Anderson

ANDREW MCKEAN   Financial Advice Association Australia (FAAA) general manager of policy, advocacy, and standards Phil Anderson has urged the Senate Committee inquiry into Dixon Advisory to hear from ex-clients.

HUB24 shutters Xplore Wealth MDA services

ANDREW MCKEAN  |    12:42PM   HUB24 plans to shut down its Xplore Wealth Managed Discretionary Account (MDA) services next year, with discussions underway with financial advisers to explore alternative options.

ETFs, global equities dominate retail portfolios: Data

MATTHEW WAI  |    12:30PM   A new report highlighted the growing prominence of exchange-traded funds and international equities in retail investors' portfolios.

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.

Dimon 'cautiously pessimistic' on US economy

KARREN VERGARA   Despite the raging bull market, and lower inflation and unemployment levels, JPMorgan Chase chief executive Jamie Dimon is "cautiously pessimistic" about the US economy in 2025.

Unemployment edges up despite jobs added

ELIZA BAVIN   Employment rose by 56,000 people in December, smashing expectations, but the unemployment rate still edged up slightly.

Vanguard fined US$106m for investors' massive tax bill

KARREN VERGARA  |    12:35PM   The Securities and Exchange Commission (SEC) charged Vanguard US$106.4 million for "materially misleading" investors in the Investor Target Retirement Funds (Investor TRFs) about their future tax liabilities.

TPB welcomes stay of sanctions against disqualified agents

MATTHEW WAI   The Administrative Review Tribunal (ART) has declined to stay or suspend sanctions imposed by the Tax Practitioners Board (TPB) against disqualified tax agents in three separate cases.

Top Pendal executive joins Evidentia

ELIZABETH FRY  |    12:44PM   Former Pendal head of multi-asset Michael Blayney has joined the manager's investment committee.

Salter Brothers bolsters equities team with iPartners hire

MATTHEW WAI   Alternative fund manager Salter Brothers has welcomed Emily Mohan as investment director, strengthening its capabilities in equities.

$3m super tax will level playing field: Australia Institute

KARREN VERGARA  |    12:30PM   Laws that will double the tax on earnings of superannuation balances over $3 million, which were shelved in late 2024, will make the system fairer particularly as many are doing it tough, The Australia Institute says.

Grattan Institute renews calls for best-in-show super funds, partial annuitisation

KARREN VERGARA   The Grattan Institute is urging the government to mandate the partial annuitisation of Australians' superannuation and implement the 'best-in-show' list of funds to help simplify a "complex" system and allow retirees to spend their savings with confidence.

Super admin providers face reckoning in 2025: Finura

KARREN VERGARA   More companies will divest their superannuation administration offerings in 2025, according to Finura, as super funds potentially move this service in-house amid tighter scrutiny from the regulators.

Traders left scrambling over ASX settlement outage

MATTHEW WAI   The Australian Securities Exchange (ASX) suffered another glitch last week that disrupted two days' worth of trades.

Ethical investment holdings double: CoreData

ANDREW MCKEAN  |    12:39PM   The number of high-net-worth (HNW), core affluent, and mass affluent investors holding ethical and sustainable investments has roughly doubled over the past year, according CoreData.

Family offices turn to start-ups, M&As: PwC

KARREN VERGARA   Family offices have increasingly shunned real estate in favour of direct company investments over the last decade, a new report from PwC reveals.