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Wages grow 0.7% in June quarter

KARREN VERGARA  |  WEDNESDAY, 14 AUG 2024
... be more reflective of market conditions though: private wages growth rate has cooled for four consecutive quarters and is now at the lowest pace since December 2021. This is unsurprising given less tight labour market conditions, which points to further ...

Custody assets exceed $5tn milestone

JAMIE WILLIAMSON  |  TUESDAY, 13 AUG 2024
... 30, the Australian Custodial Services Association (ACSA) data shows assets grew by 5.4% in the first half of the year. They now total $5.04 trillion; at December end, this figure was $4.5 trillion. This was driven, in part, by investors' higher allocations ...

How many advisers will Australia have in 2044?

KARREN VERGARA  |  TUESDAY, 13 AUG 2024
... terms. "This leads to a conundrum: while financial advisers are strategically less important, the successful remaining ones are now much more important because in a wealth management market that is violently disrupting, fund managers need effective financial ...

Acquisitions boost WT Financial Group results

KARREN VERGARA  |  TUESDAY, 13 AUG 2024
... acquired Sentry Group for $7 million. "We've seen compounding growth in underlying NPBT above 50% for four straight years now, which underscores and validates the success of our commitment to the modernisation of the advice profession, and certainly ...

Expand bolsters SMA menu

MATTHEW WAI  |  TUESDAY, 13 AUG 2024
... managers complement the current fleet of MLC Asset Management, Antares, Ausbil, JBWere, Pendal, Perennial, and Zurich. Expand now houses 64 SMAs and provides both multi-asset and single-sector options. Advisers can also access over 500 managed funds ...

AFCA urges super trustees to improve processes

ELIZA BAVIN  |  TUESDAY, 13 AUG 2024
... faith," Gray said. Gray said AFCA was seeing instances of more sophisticated scam activity in the superannuation sector. "Now is the time for super funds, and fund members, to ensure they are doing all they can to keep themselves safe from scammers," ...

Australia's safety nets 'stretched too thin': CALI

MATTHEW WAI  |  MONDAY, 12 AUG 2024
... global economic shocks are putting intense pressure on Australians. They need someone to talk to about their financial future now more than ever," CALI chief executive Christine Cupitt said. "Australia's safety nets are stretched far too thin, and people ...

CFMEU fallout stokes governance debate

ANDREW MCKEAN  |  MONDAY, 12 AUG 2024
... established industry sectors, Myers says industry representation made sense and still does - but to what extent? "The question now isn't about industry representation - both employer and union - itself, but whether 'equal' representation ...

Dimensional to launch three more ETFs

KARREN VERGARA  |  MONDAY, 12 AUG 2024
... (Managed Fund) - Unhedged Class, and Dimensional Global Core Equity Trust (Managed Fund) - AUD Hedged Class. These funds will now change to the Dimensional Australian Core Equity Trust - Active ETF, Dimensional Global Core Equity Trust (Unhedged Class) ...

Industry demands action to stop abusers claiming victims' super

ANDREW MCKEAN  |  THURSDAY, 8 AUG 2024
... pendulum in favour of victim survivors," the government has "baulked at the idea of anything to do with super." "We're only now starting to see baby steps from the government in favour of survivors, but it's still not good enough. They're still not acting ...