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Financial advice more important than ever: HUB24

ELIZA BAVIN  |  TUESDAY, 13 OCT 2020
HUB24 said financial advice is more important than ever as it posts record inflows and signs close to 30 new licensees in the September quarter. Staging a $260 million bounce back after it suffered from the impacts of COVID-19, funds under administration ...

Vanguard boosts Aussie executive team

ELIZA BAVIN  |  FRIDAY, 9 OCT 2020
... for over 14 years, having spent the majority of his time there as director, risk assurance. Vanguard said Jacques brings close to 20 years of risk expertise working alongside asset managers and global banks in enhancing their risk programs and frameworks. ...

Morgan Stanley to acquire Eaton Vance

JAMIE WILLIAMSON  |  FRIDAY, 9 OCT 2020
Morgan Stanley has entered an agreement to acquire Eaton Vance for close to $10 billion. The two parties have entered a definitive agreement which will see Morgan Stanley advance its plans to have three world-class business units in institutional securities ...

Ratings house launches

KARREN VERGARA  |  THURSDAY, 8 OCT 2020
A local consulting firm has launched a research service aiming to offer quality insights into a variety of investment vehicles, particularly targeting the ratings gap in complex products. Evergreen Ratings, a subsidiary of Evergreen Consultants, analyses ...

Superhero sets eyes on managed accounts

ALLY SELBY  |  WEDNESDAY, 7 OCT 2020
Newly launched trading platform Superhero has revealed it has the functionality to offer managed accounts to investors, and would be looking into developing this and an APL further in the future. The platform, which launched at the beginning of September ...

BT head of platforms departs

JAMIE WILLIAMSON  |  WEDNESDAY, 7 OCT 2020
BT has farewelled its head of platforms after close to 15 years with the business, commencing the hunt for a replacement. A spokesperson for BT has confirmed the departure of Dina Kotsopoulos, effective last week. Kotsopoulos led BT's platforms business ...

Frydenberg focusses on jobs, jobs, jobs

ELIZABETH MCARTHUR  |  TUESDAY, 6 OCT 2020
The government estimates that in 2020-2021 $227.5 billion will be spent on social security and welfare - up 15.4% in real terms from the $196 billion spend last year. The social security spending is largely in response to the COVID-19 crisis, with the ...

Funding for housing to decrease

ELIZA BAVIN  |  TUESDAY, 6 OCT 2020
The government announced it would increase funding in housing and community amenities by 32.2% in 2020-21, but will then reduce that spending by 35.5% by 2023-24. It said the decrease will be primarily driven by the ending of the COVID-era HomeBuilder ...

Big banks face shareholder action

ANNABELLE DICKSON  |  TUESDAY, 6 OCT 2020
Two of Australia's big four banks face shareholder resolutions as a result of increased exposure to fossil fuels. NAB and ANZ have had shareholder resolutions lodged against them by environmental finance organisation Market Forces to align with the ...

Chief economist update: Winter of Europe's discontent

BENJAMIN ONG  |  TUESDAY, 6 OCT 2020
... France continued to grapple with more hospitalisations and tightened restrictions in the worst affected areas and could close restaurants in the Paris region on Monday, if numbers continue to rise. Italian Prime Minister Conte said he will ask parliament ...