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Ord Minnett conspired to take us over: Wilson HTM notifies court

BEN COLLINS  |  TUESDAY, 28 AUG 2012
Ord Minnett planned to take over fellow broker, Wilson HTM, by paying sign on fees to poach its advisers, said Wilson HTM in the NSW Supreme Court yesterday. Five Wilson employees were paid approximately $5.4 million by Ord Minnett, the court heard. ...

Limboland

BENJAMIN ONG  |  TUESDAY, 28 AUG 2012

Super contributions highest since GFC

BEN COLLINS  |  FRIDAY, 24 AUG 2012
Contributions to APRA regulated superannuation funds during the last financial year were at the highest level since the global financial crisis, said the Financial Services Council. The Financial Services Council's Bond Report, released yesterday, shows ...

Deferred tax impacts IOOF profit

BEN COLLINS  |  FRIDAY, 24 AUG 2012
A deferred tax liability had a material impact on wealth manager IOOF, knocking $63 million of its full-year statutory result. Retrospective changes to income tax laws forced IOOF to pay the deferred tax liability, resulting in its $19.4 million profit ...

Passing of IMR bill to attract foreign investors: Shorten

BEN COLLINS  |  FRIDAY, 24 AUG 2012
Australia's financial services industry will benefit from a tax law amendment, which removes uncertainty that had been a barrier to overseas investment, said Bill Shorten, minister for financial services and superannuation. Amendments to the Investment ...

Fall on the Wall

BENJAMIN ONG  |  FRIDAY, 24 AUG 2012
"Australian shares could snap a five-week winning streak after US markets fell as Fed hopes faded and data from China and Europe pointed to a stalling global economy." This was the first sentence that caught my eye as I clicked on theage.com.au this ...

Separate wealth from income strategy: Merton

MELANIE TIMBRELL  |  FRIDAY, 24 AUG 2012
Thinking about a wealth goal for members isn't remotely the same as a member-specific income goal and strategy - which should be the next generation solution for securing retirement income. That's according to Nobel laureate in economics, Robert Merton ...

MySuper flipping ban passes lower house

BEN COLLINS  |  THURSDAY, 23 AUG 2012
Tranche one of the Federal Government's MySuper legislation has passed through the House of Representatives, with some last-minute amendments. A push by Greens deputy leader and employment spokesperson Adam Bandt to stop employers gouging additional ...

Politicking befogs equities: AMP Capital

MELANIE TIMBRELL  |  THURSDAY, 23 AUG 2012
Political forces are exerting a much greater influence in market movement, according to AMP Capital. "Investing in shares is increasingly perceived to be risky and fruitless," said Nader Naeimi, head of dynamic asset allocation at AMP Capital. "The ...

Shorten reins in employer involvement in default super

MELANIE TIMBRELL  |  THURSDAY, 23 AUG 2012
Minister for Financial Services Bill Shorten has been accused of 'gazumping' the Productivity Commission inquiry into default super by moving to head off options that would give employers more choice in fund selection. The Minister yesterday pointed ...