Financial Standard

Advisers to cop additional $190m CSLR levy

MATTHEW WAI   The Compensation Scheme of Last Resort (CSLR) has increased the estimated FY27 levy to be paid by all financial services sub sectors to $198.1 million, a $60.7 million increase from its initial estimate announced in November 2025.

WT Financial bets on scaling advice practices

RIDDHIMA TALWANI   WT Financial (WTL) is betting on scaling advice practices by consolidating its Hubco strategy, under which it is selling its consumer-facing subsidiaries to its first Hubco investment, Titan Advice Group (TAG).

Perpetual rejects $2.5bn takeover offer

ELIZA BAVIN   The financial services firm has rejected a $21.64 per share bid from a Swedish private equity firm.

Centrepoint completes $3m client book acquisition

VINNY VUCAGO   Centrepoint Alliance has completed the acquisition of the client books and employed advisers from Cairns Wealth and Pinnacle Wealth further expanding its salaried financial advice business.

Final report into Life Code makes 85 recommendations

MATTHEW WAI   The final report of an independent review of the Life Insurance Code of Practice has been finalised, proposing some 85 recommendations across aspects of mental health, customer vulnerability, claims handling, and sales practices.

Treasury releases adverse genetic test results ban draft regulation

KARREN VERGARA   Treasury is seeking feedback on draft regulations that ban the use of adverse genetic test results in life insurance, which come into effect on October 8.

Lack of awareness impacts retirement satisfaction: TAL

MATTHEW WAI   New research indicates that although around 90% of retirees selecting pension accounts or lifetime income streams were satisfied with their decision, less than two in five (38%) pre-retirees understood how those products work.

Investment performance will not help smaller balances: Research

MATTHEW WAI   Recent research from Monash University demonstrated retirees will require a balance above $400,000 to achieve sustainable retirement without investment-related constraints.

Inflation cools, RBA facing 'uncomfortable trade-off'

ELIZA BAVIN   While inflation has cooled, it remains stubbornly above the Reserve Bank's target range, putting the central bank in a tricky position, experts say.

Vale Alan Greenspan

ELIZA BAVIN   The American economist and former chair of the Federal Reserve passed away at 100 years old.

Treasury publishes final report into the ERS

ELIZA BAVIN   The review into the Enhanced Regulatory Sandbox provided six recommendations around how sandboxes can be used to support financial innovation.

Treasury looks to reform regulation on consulting firms

RIDDHIMA TALWANI   Treasury has released an options paper to improve the regulation of accounting, consulting and auditing firms after the blowout from KPMG's whistleblower probe that found it used confidential client data in the pursuit of more tenders.

MaxCap appoints chief executive

RIDDHIMA TALWANI   MaxCap has named deputy chief executive and chief financial officer Kylie Robb as chief executive, effective July 1.

Former IFM Investors director leads global PE firm's foray into Australia

MATTHEW WAI   A former IFM Investors director has joined the Paris-based Antin Infrastructure Partners to set up shop in Australia, as the infrastructure-focused investor looks to enter the Australian market.

AMP, CFS, MLC post double-digit returns

VINNY VUCAGO   AMP Super, Colonial First State (CFS) and MLC have delivered strong returns for members with growth-focused options posting double digit gains despite heightened market volatility and geopolitical uncertainty.

Super system to hit $12.4tn by 2045

VINNY VUCAGO   Australia's superannuation system is forecast to triple in size over the next two decades reaching $12.4 trillion by 2045, as sustainable retirement outcomes become the sector's defining challenge.

Stablecoins a key to instant access to global credit markets

MATTHEW WAI   As the world enters a digital age, digital assets like stablecoins are not only opening doors for assets like private credit funds that were exclusive to institutional investors, but also a debt universe that is no longer limited to the domestic market, experts told Financial Standard.

Generation Life confirms personal information leaked in cyber incident

MATTHEW WAI   Generation Life has provided an update regarding a cyber incident that took place in April, confirming information of a "limited number" of individuals has been impacted.

Family office succession takes back seat to investments

KARREN VERGARA   While family offices have investment strategies down pat, the state of their succession plans paint another story, which reports suggest could undermine a seamless transfer of a vast amount of wealth.

Lowy family takes stake in Magellan

KARREN VERGARA   The Lowy family has acquired a 5.1% stake in Magellan Financial Group via its trust Oryxium.