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Most clients coping with financial stress: Poll

KARREN VERGARA  |  TUESDAY, 29 JAN 2019
... lost revenue for businesses. Financial stress tends to affect women (24%) more than men (14%), the report said. The good news is that financial stress in women declined by four percentage points since 2016. But women still have a higher risk of experiencing ...

Labour and housing drive rate sentiment

KANIKA SOOD  |  TUESDAY, 29 JAN 2019
... other than a broad awareness that a more challenging earnings environment is coming," ISA's Stephen Anthony says. This news story was first published in the latest print issue of Financial Standard. You can view the entire edition on our free iPad ...

MLC drops wrap and super admin fees

DARREN SNYDER  |  TUESDAY, 29 JAN 2019
... a saving of 23% on the wrap platform, making our platform one of the cheapest in the country," Lloyd said. "This is great news for clients because it will help grow their super and investment balances faster." Clients with up to four family members will ...

First neobank granted full banking licence

OSKAH DUNNIN  |  WEDNESDAY, 23 JAN 2019
... Volt Bank has become the first neobank to obtain a full banking licence from APRA. Treasurer Josh Frydenberg applauded the news and said it promotes industry competition and company innovation. Likewise, Volt Bank's success shows promise for neobanks ...

State Street flags job cuts

JAMIE WILLIAMSON  |  MONDAY, 21 JAN 2019
... over the weekend, State Street will cut about 1500 employees in response to challenging market and industry conditions. The news comes hot on the heels of job cuts at BlackRock for similar reasons. The move forms part of a new expense program initiated ...

Young Aussies backing world's biggest brands

JAMIE WILLIAMSON  |  MONDAY, 21 JAN 2019
... Z and Y investors and ranked fourth with Gen X. Despite investing for the long term, they will no doubt have been hurt by news over the weekend of Tesla's plans to lay off 7% of its full-time employees. Tesla employs about 45,000 staff worldwide. In ...

Chief economist update: Australian property market slump

BENJAMIN ONG  |  FRIDAY, 18 JAN 2019
... should be scared, us, Australians all, should be. "Australia's housing price drop expected to be the worst in the world" - news.com.au "Australia to see world's worst 2019 house price fall: report" - abc.net.au The story behind the headlines ...

IOOF, ANZ deal not in best interests of members: Morningstar

JAMIE WILLIAMSON  |  WEDNESDAY, 16 JAN 2019
... will be successful in acquiring ANZ's pensions and investments business, Morningstar is not convinced. Despite yesterday's news of amendments to the contract of sale agreed between IOOF and ANZ, the research house said its base case remains that OnePath ...

ANZ, IOOF revise wealth sale agreement

JAMIE WILLIAMSON  |  TUESDAY, 15 JAN 2019
... Management Limited breached the SIS Act and further prudential standards underpins APRA's action. The action was followed by news that IOOF managing director Chris Kelaher and chair George Venardos had stepped down to focus on defending the case ...

Curtain call for industry body after 96 years

JAMIE WILLIAMSON  |  MONDAY, 14 JAN 2019
... shown by successive governments over time and it is regrettable that we will be closing our doors shortly," Illidge said. On news of the association's imminent closure, SCOA received a thankyou card from a pensioner member in her nineties. Enclosed ...