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AustralianSuper dodges advertising scrutiny

KARREN VERGARA  |  FRIDAY, 6 NOV 2020
The nation's largest superannuation fund is facing heat for not divulging details of its $11 million marketing expense and how effective that has been in acquiring new members. AustralianSuper chief executive Ian Silk faced the Standing Committee ...

Three advisers banned for non-financial crimes

ELIZABETH MCARTHUR  |  FRIDAY, 6 NOV 2020
The UK's Financial Conduct Authority (FCA) has banned three people from working in financial services due to sex offences they had committed. The FCA's decision to ban the three individuals comes after Megan Butler, executive director of supervision ...

Chief economist update: China's vote for US president

BENJAMIN ONG  |  THURSDAY, 5 NOV 2020
... new POTUS or four more years with the old one? America remains on knife-edge as the November 3 US presidential elections show that President Donald Trump and contender Joe Biden still have to secure the 270 electoral votes to claim the Oval Office. The ...

Pendal profits tumble 25%

KANIKA SOOD  |  WEDNESDAY, 4 NOV 2020
... pound impacted its FUM. However, inflows started to pick up between July and September, totaling $1.2 billion. "The numbers show that we have seen an improvement in [inflows in] institutional channel, where we have won a significant number of mandates," ...

Chief economist update: RBA does the limbo rock

BENJAMIN ONG  |  WEDNESDAY, 4 NOV 2020
"All around the limbo world Gonna do the limbo rock..." - Chubby Checker, Limbo Rock Australian equities and bond markets applauded after the Reserve Bank of Australia (RBA) didn't disappoint expectations, showing just how low it can go. The All ...

The rate that stops the nation

ELIZA BAVIN  |  TUESDAY, 3 NOV 2020
Prior to the horses hitting the track many economists are betting on a rate cut by the Reserve Bank of Australia's board today to a new historical low of 0.10%. Finder's RBA cash rate survey found 67% of economists believe the central bank will cut ...

Healthcare dominates impact investing: American Century

ANNABELLE DICKSON  |  TUESDAY, 3 NOV 2020
In the wake of the pandemic impact investors in the United States and United Kingdom have continued to focus their attention on prioritising healthcare, new research shows. American Century Investments latest study reveals the disparity of responses ...

Climate change greater threat than COVID: Report

ELIZA BAVIN  |  MONDAY, 2 NOV 2020
Climate change is set to have a greater impact on the economy than the COVID-19 lockdowns, according to a new report from Deloitte Access Economics. The report, A new choice: Australia's climate for growth, found if climate change goes unchecked, Australia's ...

Lift in financial services jobs

KARREN VERGARA  |  FRIDAY, 30 OCT 2020
The broader job market is showing signs of recovery, particularly in the financial services industry, which recorded a 21% rise in hiring activity in the September quarter. Overall, the job market rose by 15% mostly driven by the demand for casual employment ...

Fastest-growing AFSLs in the country

KANIKA SOOD  |  FRIDAY, 30 OCT 2020
New research from Rainmaker Information shows which licensees added the most advisers in the 12 months to September end. And which AFSLs have the biggest market share. Overall, there were 19,357 advisers attached to an AFSL at September end, down 2597 ...