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Pension fund and bank terminate asset manager

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2018
A UK pension fund and its parent bank have terminated about $200 billion in respective mandates with a major global asset manager. Scottish Widows and Lloyds Banking Group's wealth businesses have given Standard Life Aberdeen notice to terminate their ...

IFAs tackling bank-owned competitors head on

KARREN VERGARA  |  FRIDAY, 16 FEB 2018
Research shows independent financial advisers (IFAs) do not feel threatened by their bank-owned counterparts and are willing to take the competition head on. According to GlobalData's 2017 IFA survey, only a handful of IFAs perceive competition from ...

Actuaries Institute names chief executive

KARREN VERGARA  |  FRIDAY, 16 FEB 2018
... exciting opportunity for me and I am confident that the energy, leadership and strategic ability I bring to the role will not only help build our brand but also reveal to our growing membership base the new opportunities available to them in Australia ...

Suncorp reviews options for life insurance business

KARREN VERGARA  |  THURSDAY, 15 FEB 2018
Suncorp Group is considering all the possible options, including a potential sale of its life insurance business despite a 56% surge in underlying after-tax profit to $39 million reported in its latest financial results. The life insurance arm's strong ...

SMFSA voices support for AFCA

KARREN VERGARA  |  THURSDAY, 15 FEB 2018
... lengthy and costly legal proceedings is to be commended," Maroney said. "Anecdotal evidence suggests that SMSF members often do not pursue their complaints with banks, insurers and super funds because of the potential legal costs and complexity. "But ...

FASEA accelerates degree equivalency agenda

JAMIE WILLIAMSON  |  THURSDAY, 15 FEB 2018
... to be able announce something about that in the next number of weeks," Sanders told delegates this morning. While he could not provide an exact date of release, Sanders said FASEA is completely aware of a gap in the understanding of the requirements ...

Contract work threatens super: Research

KARREN VERGARA  |  THURSDAY, 15 FEB 2018
... increasingly denied job security, sick leave, holiday pay, and superannuation monies," the report said. Contractors who are not accruing super should be subject to a compulsory levy once they earn more than $90,000 per annum to fund the aged pension ...

AXA IM names head of Australia for real assets business

ALEX BURKE  |  THURSDAY, 15 FEB 2018
... this stage of our development, we can clearly see the benefits of becoming part of the AXA IM - Real Assets' global team, not just in terms of having the wider resources and expertise that will allow us to take our business to the next level, but also ...

Chief economist update: Bad news is good news returns?

BENJAMIN ONG  |  THURSDAY, 15 FEB 2018
... than the top-end of market expectations of between 0.3% and 0.4% (enough to force it into a correction earlier this month). Not only this, the BLS reports that "increase in the all items index was broad-based". Investors are correct to ignore the headline ...

LIF reforms to drive specialised advice industry

ALEX BURKE  |  WEDNESDAY, 14 FEB 2018
The advice industry post-Life Insurance Framework reforms is "bright and full of potiential" for those businesses that adopt a more specialised approach, according to Bombora Advice managing director Wayne Handley. Handley said the LIF reforms are compelling ...