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.

Centuria launches new wholesale fund

ELIZA BAVIN  |    12:00PM   The single asset wholesale fund aims to provide investors with attractive monthly income, tax deferred distributions and the potential for capital growth.

NovaPort Capital team calls it a day

JAMIE WILLIAMSON   The team at small caps manager NovaPort Capital have decided to hang up their boots.

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.

RBA hints another rate rise could be on the cards

ELIZA BAVIN  |    12:05PM   The Reserve Bank board confirmed it considered hiking interest rates in May.

Financial services firms concerned about attracting staff

ELIZA BAVIN  |    12:04PM   New research from Robert Half suggests 74% of the finance industry is concerned about their ability to attract and retain staff.

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |    12:26PM   ASIC has canned the AFS Licence (AFSL) of the asset management firm linked to a massive money-laundering operations.

BitConnect promoter pleads guilty

KARREN VERGARA   The promoter of BitConnect Australia has pleaded guilty for his role in spruiking a fraudulent cryptocurrency scheme.

Cbus deputy CIO exits

KARREN VERGARA   The deputy chief investment officer of Cbus has left the super fund eight months after being appointed to the post.

Spaceship appoints new chief risk officer

JAMIE WILLIAMSON   Spaceship has tapped a former ASIC and APRA operative to be its new chief risk officer.

Equip Super awards custody mandate

KARREN VERGARA  |    12:02PM   Equip Super has selected a new custodian and back-office administrator to replace NAB Asset Servicing.

Super funds to solve the housing crisis?

ANDREW MCKEAN   Association of Superannuation Funds of Australia (ASFA) chief executive Mary Delahunty said at the Australian Shareholders' Association Conference yesterday that addressing the supply side of the housing crisis requires an infusion of private capital.

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.