Financial Standard

Calls for a simplified path to financial advice

ANDREW MCKEAN   Financial Advice Association Australia (FAAA) chief executive Sarah Abood said she supports recent proposals around adviser education from the Joint Associations Working Group (JAWG) because "we need far more people with these qualifications" and the current system isn't supporting that need.

ANZ transfers Will bank to Equity Trustees

JAMIE WILLIAMSON   ANZ Bank will hand over its 6000-strong Will bank to Equity Trustees, following a decision to cease estate planning services from July.

Value versus growth: Market expectations in 2024

ANDREW MCKEAN  |    12:48PM   In 2022, concerns about rising interest rates and the Russia-Ukraine war brought fundamentals back into focus, creating numerous opportunities for value investing to generate alpha. Then transitioning to the first half of 2023, that period saw significant performance for growth stocks. What's next?

Macquarie Asset Management launches low-cost active ETFs

ANDREW MCKEAN  |    12:45PM   Macquarie Asset Management (MAM) has launched two ultra low-cost systematic active ETFs on the ASX that seek to enhance returns over index performance.

ClearView closes ClearChoice Super Rollover, launches trauma options

KARREN VERGARA   ClearView has made changes to its ClearChoice product series, including the launch of trauma options, and is closing its ClearChoice Super Rollover product.

Aussies underestimate life insurance's importance: Investment Trends

ANDREW MCKEAN   There is a gap in perception among Australians of life insurance as a crucial component of financial stability, according to an Investment Trends Consumer Insurance Needs report.

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA   The proposed 30% tax on large superannuation balances must clarify the confusion surrounding legacy pensions and reserves, and how they should be calculated, according to the SMSF Association (SMSFA).

intelliflo adds SMSF cashflow modelling capabilities

JAMIE WILLIAMSON   Advisers using intelliflo now have access to cashflow modelling tools for SMSF clients.

Industry reacts to Federal Budget

ELIZA BAVIN   Treasurer Jim Chalmers handed down the Federal Budget last night. Here's how the industry has reacted.

Chalmers makes bold inflation prediction

ELIZA BAVIN   The Federal Treasurer says he believes inflation will come back into the Reserve Bank's target range sooner than predicted.

Former NSW adviser loses ban appeal

ELIZA BAVIN   The Administrative Appeals Tribunal has upheld ASIC's decision to permanently ban a NSW adviser.

Budget 2024: Regulators given boost to combat misconduct, cybersecurity

JAMIE WILLIAMSON   The government will provide $17.3 million over four years to ASIC and APRA to combat greenwashing and other related financial misconduct and help further develop Australia's sustainable finance market.

CalSTRS appoints chief investment officer

ANDREW MCKEAN  |    12:43PM   The California State Teachers' Retirement System (CalSTRS) has named a chief investment officer to succeed Christopher Ailman, who announced his retirement in January after a long tenure.

Aware Super appoints general manager, strategy and transformation

JAMIE WILLIAMSON  |    12:35PM   The $175 billion superannuation fund has recruited from Deloitte for the newly created role.

Active Super, Vision Super finally sign transfer deed

JAMIE WILLIAMSON  |    12:36PM   Almost two years on from confirming merger talks, the two super funds have set a date for the successor fund transfer.

Members' attitude, behaviour key to better engagement

JAMIE WILLIAMSON   New research suggests superannuation funds need to focus more on attitudinal and behavioural insights if they're to improve engagement.

The rising role and risks of generative AI

ANDREW MCKEAN   Generative AI, a rapidly advancing form of deep learning that mimics human output, also raises concerns about the verifiability of its results, UTS industry professor - emerging technology Nicholas Davis says.

Iress breach extends to OneVue business

JAMIE WILLIAMSON   Iress has confirmed the breach it was victim to over the weekend was worse than first thought, having spread to the recently offloaded OneVue business.

Succession planning troubles family offices: J.P. Morgan

KARREN VERGARA   Global family offices remain deeply concerned about how to prepare the next generation to inherit a vast fortune as almost 30% do not have a structured approach to help them, a new study from J.P. Morgan reveals.

Wholesale investor tests up for parliamentary review

KARREN VERGARA   The federal government wants to shake up the wholesale investor tests further in launching a parliamentary inquiry into the entire framework, worrying many fund managers operating in the high-net-worth space.