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Advice, but not as you know it

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... he said. "Not all of them are likely to be successful longer-term and some rationalisation is probably inevitable over the next couple of years." Karagianis said advisers should consider the likely longer-term viability of any consultant they appoint. ...

Darwinian time for super

HARRISON WORLEY  |  THURSDAY, 7 MAY 2020
... respects," Watson told the panel. While Watson is unsure of how many super funds may end up serving Australians over the next decade, he told the panel he has "no doubt" mergers will occur, and at an accelerated rate, as the shift to a member outcome ...

SMSF Association appoints deputy chief executive

HARRISON WORLEY  |  THURSDAY, 7 MAY 2020
... association in the future. "Having established our business in the market over the past few years we are now looking to the next chapter to continue the great work of our technical team in training and industry advocacy, strengthening our relationships ...

Superannuation startup launches raise

KANIKA SOOD  |  WEDNESDAY, 6 MAY 2020
A superannuation startup is pushing ahead with a retail raise to be followed by an institutional one next month. GigSuper is aiming to raise $100,000 to $400,000 from retail investors, in a crowdfunded equity campaign launched yesterday. The fund is ...

Opportunities abound in COVID-19 environment

ALLY SELBY  |  WEDNESDAY, 6 MAY 2020
The uncertainty and volatility that COVID-19 has endowed on markets has opened up opportunities not seen in decades, according to a $9.5 billion Aussie investment manager. However, in order to take advantage of these opportunities investors must be ...

ASIC issues stark warning to retail investors

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 MAY 2020
... that for more than two thirds of the days on which retail investors were net buyers, their share prices declined over the next day. For more than half of the days on which retail investors were net sellers, their share prices increased over the next ...

Almost $1bn wiped off risk market

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 MAY 2020
... $15.7 billion. However, some insurers did manage to buck the trend. TAL enjoyed inflows of 18.8%, while ClearView had the next strongest inflows in the market at 8.3%. MetLife also had positive inflows at 5.8%. However, the inflows for some insurers ...

Chief economist update: The outlook for Australia, according to COVID-19

BENJAMIN ONG  |  WEDNESDAY, 6 MAY 2020
... 10% over the first half of 2020 and by around 6 per cent over the year as a whole. This is followed by a bounce-back of 6% next year." "...the unemployment rate peaks at around 10% over coming months and is still above 7% at the end of next year." "In ...

New buyers for Sargon businesses confirmed

KANIKA SOOD  |  TUESDAY, 5 MAY 2020
... the highest of standards for all stakeholders, including our clients and members," Kibble said. "We believe the proprietary next generation trustee infrastructure that Sargon has developed to be world-class technology," Wasserman said. "As the new owner ...

Allan Gray appoints head of adviser distribution

KANIKA SOOD  |  TUESDAY, 5 MAY 2020
... said. "These changes will likely lead to further appointments in the team once things settle and we set ourselves up for the next phase of growth in the retail market."