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Chief economist update: The All Ords' ups, downs and ups

BENJAMIN ONG  |  WEDNESDAY, 1 JUL 2020
... lockdown 36 suburbs and other states laying out the you're not welcome mat for Victorians. The Victorian experience brings home the risk of a second wave that threatens the RBA's recent assessment that "the economic downturn will not be severe ...

MLC general manager departs

ELIZABETH MCARTHUR  |  MONDAY, 29 JUN 2020
... work in." Downey's move comes after MLC revealed its new advice brand, TenFifty Financial Group, last month. TenFifty is home to all advisers previously aligned to Garvan, Apogee and Meritum. Meanwhile, all employed advisers now sit under the MLC Advice ...

CBA donates $2m to community charities

ALLY SELBY  |  MONDAY, 29 JUN 2020
Commonwealth Bank will donate more than $2 million to community organisations across the country, with the bank's employees nominating local community charities desperate for a financial boost. It's a first in the program's 100-year history, with CBA ...

Fintech acquires licensee

ELIZABETH MCARTHUR  |  FRIDAY, 26 JUN 2020
... NEO Financial Solutions, the licensee will now become a wholly owned subsidiary of PictureWealth. As at March 31, NEO was home to 83 financial advisers. NEO managing director Mark Edman will move into the group chief operating officer role. "This acquisition ...

Perth hit worst in housing crisis

ELIZA BAVIN  |  FRIDAY, 26 JUN 2020
... CoreLogic's head of research Eliza Owen. Property value declines have been fairly mild, so far this year, with national May home value index results showing the dwelling market declined just 0.4% over the month, and preliminary indicators for June are ...

FPA Congress moves online

ELIZA BAVIN  |  WEDNESDAY, 24 JUN 2020
The Financial Planning Association of Australia (FPA) has announced the 2020 FPA Virtual Congress masterclass series will go live on July 9. The FPA is offering its Congress format as a virtual event for the first time in response to the COVID-19 pandemic. ...

Amazon launches climate VC fund

ALLY SELBY  |  WEDNESDAY, 24 JUN 2020
The US$1.38 trillion technology giant has launched a US$2 billion venture capital fund, set to invest in companies building products, services, and technologies that protect the planet. Amazon said its newly launched Climate Pledge Fund would help the ...

Marianne Perkovic to depart CBA

ALLY SELBY  |  TUESDAY, 23 JUN 2020
... was designed to create a better service for the bank's private clients, whose needs and demands focus predominantly on home buying and deposits, as well as investments and financial advice. The spokesperson confirmed that the private banking boss ...

COVID-19 brings trading boom

HARRISON WORLEY  |  MONDAY, 22 JUN 2020
New data shows sharemarket engagement has ticked up since the COVID-19 pandemic set in, as more Australians work from home. Latest nabTrade data reveals applications to the share trading platform increased 360% over the last quarter, with trading volumes ...

HESTA asks Retirement Income Review to consider ERS

KANIKA SOOD  |  FRIDAY, 19 JUN 2020
The $52 billion industry super fund says its younger members have "virtually drained" their retirement savings during COVID-19 and is asking the Retirement Income Review to urgently consider ERS's impact on women's retirement outcomes. About ...