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TOWER Life business sold to Fidelity

MARK SMITH  |  FRIDAY, 10 MAY 2013
... services industry. This will give us the scale to expand further into the market," he said. Further details of how TOWER will apply proceeds of the transaction, including the amount of capital to be returned to shareholders, would be given on 28 May ...

Macquarie launches fund for significant investor visa migrants

MARK SMITH  |  WEDNESDAY, 8 MAY 2013
Macquarie Specialist Investments (MSI) has launched the Macquarie SIV Cash Fund, a new investment solution aimed at investors applying for the Significant Investor Visa (SIV). The Significant Investor Visa is a permanent residency visa launched at the ...

Treasury releases draft EM for super changes

ALEX DUNNIN  |  TUESDAY, 7 MAY 2013
... contribute up to $35,000 annually into superannuation tax-free and that from the 2014-15 financial year this higher cap will apply for individuals aged 50 years and over. This new proposed legislation does not affect the amount the amount of non-concessionally ...

CommInsure improves coverage for RBF members

LAURA MILLAN  |  FRIDAY, 3 MAY 2013
... members who have previously opted out of insurance cover may now be able to opt back in, members over age 60 are able to apply for death and TPD cover up to age 70, and income protection cover to age 65 is available for members over the age of 60 who ...

Basel III to see banks focus on longer-term depositors

MARK SMITH  |  THURSDAY, 2 MAY 2013
The requirement to match assets and liabilities under new regulatory proposals will see Australian banks move to a model where customers owning more products, according to ING DIRECT's executive director distribution Lisa Claes. Although the final details ...

Nominations open for AFA Excellence in Education award

LAURA MILLAN  |  WEDNESDAY, 1 MAY 2013
The Association of Financial Advisers (AFA) has opened the nominations for the sixth AFA Excellence in Education Award, which recognises advisers committed to lifelong learning. Nominations close on May 24 with the first round of interviews being held ...

UK to tax platform rebates as income

ALEX DUNNIN  |  TUESDAY, 23 APR 2013
... significant disincentive to save and also because the implementation period is only two weeks. The ruling is expected to apply to investment platforms that provide fee discounts to investors through refunds and rebates they pass back to investors via ...

Advice practice profitability drops by 50%: survey

LAURA MILLAN  |  THURSDAY, 18 APR 2013
... Health, practices should have an effective business plan for the next 12 months, should seek regular feedback from the client, apply client segmentation and prepare a transition plan. "There is a price to pay if they don't apply these measures and it ...

Bissaker sets sights on Big Four market share

MARK SMITH  |  THURSDAY, 11 APR 2013
... and do everything they do then firstly you're not different and secondly they're probably going to have more capital to apply," he said. "You've got to think about the unique way to grab the attention of the consumer, and I think that the Virgin brand ...

FEAL launches super mentoring initiative

MARK SMITH  |  TUESDAY, 9 APR 2013
... for 12-14 months and will see both parties working toward defined mentoring objectives. FEAL members will be invited to apply for a mentorship in the coming weeks.