Financial Standard

South Australian financial adviser slapped with seven-year ban

ANDREW MCKEAN   South Australian financial adviser Bruce Davis has been banned for seven years by ASIC.

Millions of Aussies want episodic advice: Research

MATTHEW WAI   More than 10 million Australian adults are set to seek financial advice, with more than half wanting access to a more flexible offering, a new report from Investment Trends reveals.

World on the brink: Frontier Advisors

ANDREW MCKEAN   The global economy stares down "unprecedented challenges" in 2025, according to Frontier Advisors' annual secular outlook, which forecasts rising risks from unsustainable debt, geopolitical rifts, and climate inaction.

Nuveen raises over $400m for real estate debt strategy

MATTHEW WAI   Nuveen has closed its first commingled Australian commercial real estate debt strategy with investments of over $400 million from the Teachers Insurance and Annuity Association of America (TIAA) and Temasek.

NEOS updates medical definitions, labels

KARREN VERGARA   NEOS has introduced several changes to one of its products that includes updated medical definitions and naming conventions, affecting new and existing customers.

Permanent disablement claims for mental health explodes

ANDREW MCKEAN   Total and permanent disability (TPD) claims because of mental health for Australians aged 30 to 40 increased by 732% over the past decade, according to a new report by KPMG, commissioned by the Council of Australian Life Insurers (CALI).

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.

2025 economic outlook 'threatening': AMP

ELIZA BAVIN   AMP chief economist Shane Oliver has outlined the key threats facing investors in 2025.

GDP grows but still slow: 'Confirms our worst fears'

ELIZA BAVIN   Australian GDP rose for the 12th consecutive quarter but continues to slow.

More work to do on reportable situations compliance, ASIC says

JAMIE WILLIAMSON   Licensees are generally slow to report to ASIC because of deficient internal processes and poor monitoring of compliance with the reportable situations regime, a review found.

Trustees, advisers have 'insufficient focus' on performance

ELIZA BAVIN   ASIC commissioner Alan Kirkland said superannuation trustees and advisers do not put enough focus on persistently underperforming investment options.

Funds SA appoints chief investment officer

ANDREW MCKEAN   Funds SA has appointed a new chief investment officer, who will join from Hostplus, to commence in February 2025.

Australian Retirement Trust appoints new chief risk officer

ANDREW MCKEAN   Australian Retirement Trust (ART) has appointed a new chief risk officer that's set to start in March 2025.

UniSuper has 'some work to get on with' on cyber front: Chair

JAMIE WILLIAMSON   UniSuper's leadership team has touched on how the fund is strengthening its operations following the extensive system outage in May this year.

Super framework, SMSFs conducive to financial abuse: Inquiry

KARREN VERGARA   Lax superannuation laws make it too easy for perpetrators of domestic violence to access victims' retirement savings, while the current framework for self-managed super funds (SMSFs) enables financial abuse to flourish, a parliamentary inquiry found.

Praemium partners to bring structured products to HNWIs

MATTHEW WAI   Praemium inked a deal with Stropro, an alternative investment platform, to offer financial advisers improved access to structured products to better meet the evolving needs of their high-net-worth (HNW) clients.

Commonwealth Super partners for admin uplift

JAMIE WILLIAMSON   Commonwealth Superannuation Corporation will work with Novigi to consolidate all its systems into one administration platform under a new seven-year deal.

Family office investment lead joins TCorp

ELIZABETH FRY   One of Australia's oldest family offices is farewelling its head of investment who plans to join TCorp in the new year.

Perpetual reveals decade of philanthropy insights

ANDREW MCKEAN   Perpetual, for the first time, has laid bare a decade's worth of data, unveiling insights into the philanthropic and charity sectors.