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GROW Inc. chief executive steps down

JAMIE WILLIAMSON  |  FRIDAY, 1 NOV 2024
Mathew Keeley, the co-founder of GROW Inc., is stepping down as chief executive of the budding administrator. Keeley informed staff of his decision this week, appointing executive chair Rob Johnston as acting chief executive. Brad Cooper has been named ...

Super complaints rise in FY24: AFCA

ELIZA BAVIN  |  THURSDAY, 31 OCT 2024
... "There is ongoing confusion in the advice space regarding the classification of SMSFs as wholesale. Some advisers incorrectly apply thresholds of $2.5 million in net assets or $250,000 income, instead of the $10 million limit specified in the Corporations ...

Qantas Super lowers investment fees, updates cash option

KARREN VERGARA  |  WEDNESDAY, 30 OCT 2024
... blinding laser, non-detectible fragments, incendiary (white phosphorus) or nuclear whole weapon systems (which does not apply to delivery systems). Qantas Super is now free of tobacco-product manufacturers, such as cigarettes, cigars, and e-cigarettes. ...

BlackRock lowers management fees on ETF

ELIZA BAVIN  |  TUESDAY, 29 OCT 2024
... Asia 50 ETF (IAA) have been lowered from 0.50% per annum to 0.29%. In addition, contribution and withdrawal fees - which apply to authorised participants only - will increase, and IAA will gain exposure to the relevant index by investing directly in ...

Super fund fees exploit Australians' low financial literacy

ANDREW MCKEAN  |  WEDNESDAY, 16 OCT 2024
... fund is charging them multiple fees, with one third having never reviewed or compared fees across funds. Most super funds apply multiple charges to account holders, including administration fees, investment fees, transaction fees, insurance premiums ...

EBC expands local offerings to HNWIs, instos

KARREN VERGARA  |  WEDNESDAY, 16 OCT 2024
UK wealth management and brokerage firm EBC Financial Group (EBC) has scored a new AFS Licence (AFSL) and is ready to take on institutional investors and Australia's growing high-net-worth population. London-based EBC provides financial brokerage, asset ...

TAL changes underwriting limits

KARREN VERGARA  |  MONDAY, 14 OCT 2024
... permanent disability (TPD), and income protection insurance applications. For life and TPD, customers aged 49 and younger can apply for up to $2 million in cover without mandatory medical tests. This was increased from $1.5 million. For income protection ...

ASIC cancels fewer AFSLs in FY24

KARREN VERGARA  |  FRIDAY, 11 OCT 2024
... engagement process." ASIC is currently building a new digital portal for AFSLs and applicants to make it easier and efficient to apply for, maintain, and vary their licence. It is due to go live in early 2025.

GESB adopts Protecting Your Super reforms

JAMIE WILLIAMSON  |  MONDAY, 30 SEP 2024
... this amended so that GESB members can continue making concessional contributions to their account, however it will only apply to existing members. GESB has said implementing this change will improve its sustainability and ability to compete within the ...

Retirement calculators 'can't be counted on': SCA

ANDREW MCKEAN  |  MONDAY, 30 SEP 2024
... impact on retirement income and spending. Instead, homeownership was also considered when determining which asset limit to apply when calculating the Age Pension. "The treatment of mortgages in the calculators was also disappointing," the research said. ...