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Janus Henderson acquires NBK Wealth, Tabula Investment Management
|Janus Henderson has acquired the wealth management arm of the National Bank of Kuwait, NBK Wealth, as well as European ETF provider, Tabula Investment Management.
ART names advice and education leads
|Australian Retirement Trust (ART) has revamped its advice, guidance and education team and created two new leadership roles.
Men, women in same occupation drive pay gap
|A whopping 80% of the gender pay gap can be attributed to women being paid less than men within the same occupation, a new economic analysis shows.
Macquarie Group profits falls 32% to $3.52bn
|Macquarie Group has reported a net profit of $3.52 billion for the year ending 31 March 2024, a 32% decrease from the previous year.
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Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
Anyone who has works in the larger super fund sector knows well the effect of reserving accounts, crediting rates and actual results. This is their latest stab at the fact that as a general rule people have lost trust in the lack of transparency of big funds, along with concerns around estate planning and related matters. Crediting rates are dubious at the best of times.
Now with group insurance premiums being hiked considerable the large funds are struggling to retain members with any sizeable superannuation savings.
The cost that is never taken into account with these types of calculations - and the one the ATO can never ascertain - is the cost of the trustees/members time in running and maintaining an SMSF.
If a tradesman or professional who charges their clients $100 per hour spends 1 hour per week on the SMSF, this has cost them $5,200 per year. This will never be reported in the retruns of the fund. In fact the member/trustee will never even consider this when they look at the costs.
Of course, costs are only one consideration but people at least need to be honest with themselves with the cost aspect.