Financial Standard

How AMP plans to bounce back

JAMIE WILLIAMSON   AMP's chair has explained how the group intends to improve its financial performance, while Alexis George outlined how the 173-year-old company will be transformed, with a strong focus on the retirement space.

Record number of adviser graduates: Kaplan

ANDREW MCKEAN   Kaplan Professional announced a record number of financial advisers have graduated from postgraduate financial planning qualifications in 2020 and 2021.

No place for crypto in insto portfolios: PGIM

JAMIE WILLIAMSON   PGIM has made clear its thoughts on cryptocurrency, labelling it 'portfolio kryptonite' and saying it adds little to institutional investment portfolios other than a whole lot of risk.

Risk asset volatility guaranteed: Western Asset

ANDREW MCKEAN   Geopolitical developments and central bank tightening have made risk asset volatility a surety this year, according to Franklin Templeton's specialised investment managers Western Asset.

Risk inflows hit $17.6bn last year: Analysis

JAMIE WILLIAMSON   Risk inflows grew 5.5% in 2021, with MetLife, NobleOak and QInsure seeing the greatest growth.

MLC Life Insurance joins forces with Insignia Financial

ANDREW MCKEAN   MLC Life Insurance has partnered with Insignia Financial to launch a digital claims service.

SMSF establishments on the rise

ELIZABETH MCARTHUR   New research shows that the pandemic and inflation concerns have not blunted the enthusiasm of Australians for setting up self-managed super funds.

SMSFA collaborates with APRA on rollover improvements

ANDREW MCKEAN   The SMSF sector has been plagued with delays when rolling over funds from APRA regulated funds to SMSFs, so the industry body is working with the regulator with the hope of improving processes.

Yellen forebodes stagflation risks

ANDREW MCKEAN   In Bonn, Germany, US secretary of the treasury Janet Yellen has called the global economic outlook challenging and uncertain; stagflation effects have depressed output and spending, she added.

US inflation wavers near a 40-year high

ANDREW MCKEAN   The US inflation rate has fallen to 8.3%, but CPI continues to flirt with catastrophic 40-year highs.

ASIC bans financial adviser for five years

ANDREW MCKEAN   Sydney financial adviser Walter Yaolong Guan has been banned for five years after operating without a licence.

Allianz subsidiary, former portfolio managers charged over massive fraud

JAMIE WILLIAMSON   Allianz Global Investors and three of its former portfolio managers have been charged by the US regulator over a multi-billion-dollar securities fraud sold to pension funds that went on for more than four years.

BUSSQ appoints new chair

JAMIE WILLIAMSON   The industry super fund will have a new chair from July 1.

T. Rowe Price names new head of ESG enablement

ANDREW MCKEAN   T. Rowe Price has named Poppy Allonby as its new investment and ESG leader, hiring BlackRock's former head of global product for Asia Pacific.

Beware super home buyer collateral damage: ISA

ANDREW MCKEAN   The Coalition's super home buyer proposal could leave thousands worse off, even if they don't access the scheme, Industry Super Australia (ISA) has said.

Dump annual super contributions cap: CA ANZ

JAMIE WILLIAMSON   Ahead of this weekend's election, the Chartered Accountants Australia and New Zealand (CA ANZ) wants both major political parties to commit to dumping the annual superannuation contribution cap for the benefit of women.

State Street plans local ETF portal launch

JAMIE WILLIAMSON   Following its launch in Singapore this week, State Street plans to roll out its Fund Connect ETF portal in Australia.

Westpac architects new institutional banking platform

ANDREW MCKEAN   Westpac has begun work on a new transactional platform for institutional clients, using UK technology provider 10x Banking to provide the core technology.

More UHNWIs than ever: Report

CHLOE WALKER   The number of ultra-high-net-worth individuals worldwide climbed by almost 10% last year despite the ongoing pandemic, new Knight Frank research shows.

Coterie invests in wealth platform

KARREN VERGARA   Coterie Capital has invested in a wealth management platform that has grown to $10 billion in funds under administration.