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Vanguard selects next chief executive

JAMIE WILLIAMSON  |  WEDNESDAY, 15 MAY 2024
Salim Ramji will take over as chief executive of Vanguard on July 8, succeeding Tim Buckley. Buckley announced earlier this year his intention to retire as Vanguard's chair and chief executive, following more than 30 years with the company. Vanguard's ...

Budget 2024: The Budget by numbers

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... inflation while it is still above band. With Treasury not expecting we could be back to the inflation target this year, not next." In the 2023-24 Mid-Year Economic and Fiscal Outlook (MYEFO) the government revealed a deficit reduction of $1.1 billion ...

Budget 2024: Additional $11.3bn promised for housing

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... new investment builds on the more than $25 billion in new housing investments the Albanese government has promised over the next decade, including: $10 billion Housing Australia Future Fund to build 30,000 social and affordable rental homes $2 billion ...

Budget 2024: Government heeds industry calls to better support women

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... support indexed annually, and paying superannuation on government paid parental leave. He reinforced that, if Labor wins the next election the Commonwealth Paid Parental Leave (PPL) scheme will include Superannuation Guarantee contributions from 1 July ...

Budget 2024: Chalmers looks to reset aged care, NDIS

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... NDIS back on track. The government has said it will invest $531.4 million to offer an additional 24,100 Home Care Packages next financial year. It is also providing $87.2 million to attract nurses and other workers into aged care, and has committed to ...

Wealth firms 'still have PTSD from the Royal Commission': Deloitte

ANDREW MCKEAN  |  TUESDAY, 14 MAY 2024
... returns, it remains a high priority, with 50% of Australian firms planning to significantly expand their ESG offerings over the next three years. However, Deloitte's data suggests that younger investors may not be quite as ready for sustainable investments ...

Advisers urgently call on Treasury to recognise degrees

KARREN VERGARA  |  TUESDAY, 14 MAY 2024
... "[We] saw the industry retain many long-standing stockbrokers and investment advisers to the benefit of their clients and the next generation of professionals..." SIAA's advocation for this "common sense reform" has paid off. "When degrees were introduced ...

Advisers should leverage US tech blueprint: SIAA panel

KARREN VERGARA  |  TUESDAY, 14 MAY 2024
... commissioning-free trading. At other end of the spectrum, registered investment advisers, which are 100% fee-based fiduciaries, are the next fastest-growing category, skyrocketing at about 20%-25% CAGR. "Independent advice and digital advice are growing ...

Pacific Current sells stake in investment firm to Goldman Sachs

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... value for both its investors and shareholders." Pennybacker chief executive Timothy Berry said the transaction marks the next phase of the firm's growth. "With additional capital and a value-add partner, we look forward to extending our strong track ...

ClearView closes ClearChoice Super Rollover, launches trauma options

KARREN VERGARA  |  MONDAY, 13 MAY 2024
... product. Any money in excess of premiums due are retained in ClearChoice Super Rollover, where it is invested and used when the next premium is due."