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Advisers should have an AI plan: Netwealth

CHLOE WALKER  |  THURSDAY, 22 FEB 2024
When it comes to incorporating artificial intelligence (AI) and big data into an financial advice practice, it's imperative to have a plan in place, according to Netwealth head of marketing Andrew Braun. Addressing the crowd at the SMSF Association ...

ASX issues first corporate bond, underwritten by Westpac

ANDREW MCKEAN  |  THURSDAY, 22 FEB 2024
ASX has unveiled the pricing for its first corporate bond; a $275 million issue of floating rate, unsecured medium-term notes. This issuance falls under its newly established Medium Term Notes Programme, dated 18 August 2023. The Notes have a coupon ...

Super contribution caps to rise on July 1

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
... unless they have been triggered by 30 June 2024. If they have, then the $330,000 limit will still apply. The increase does not apply to the $1.9 million total super balance limit, however lower sub-limits will apply due to being based on the contribution ...

JANA wins mandate from public sector super fund

ANDREW MCKEAN  |  THURSDAY, 22 FEB 2024
... over $1.3 trillion. According to research from Rainmaker Information, JANA holds a commanding market share of 42.5% in the not-for-profit super fund sector as of September 2023.

Teals will push for super tax indexation: Burgess

CHLOE WALKER  |  THURSDAY, 22 FEB 2024
... reason we think it is unnecessary is because it addresses a legacy issue, and being a legacy issue, it should fix itself in the not-too-distant future. All this Bill is going to do is make the system even more complex," he said. "[However] we've ...

ASIC waves red flag at advisers, trustees over Choice products

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
... evidence that consumers are aware of how poorly Choice products they're in are performing, and that such underperformance is not being addressed. In its review, ASIC examined 29 Choice options and three legacy products - 22 in accumulation phase and ...

Younger Aussies embracing SMSFs, guidance needed

CHLOE WALKER  |  WEDNESDAY, 21 FEB 2024
... of those concerns should work out strategies for using a combination of wealth building vehicles, which might incorporate not only an SMSF or an industry fund, it might also incorporate trusts and other vehicles as well." Hurley added that all advisers ...

ASIC vigilant on bad SMSF advice

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... 2023. Before that Jaidka was with the SMSF Advisers Network, The SMSF Expert, and GPS Wealth. Over five years, Jaidka agreed not to carry on a financial services business, provide financial services, or act in a managerial capacity of any entity operating ...

Iress reports $137m loss in 'challenging year'

ANDREW MCKEAN  |  WEDNESDAY, 21 FEB 2024
In a year deemed challenging by Iress chief executive Marcus Price, the firm saw its net profit after tax (NPAT) plummet from a $52.7 million profit to a $137.5 million loss for FY23, alongside a decrease in statutory EBITDA from $142.7 million to $89.6 ...

Reforms will strengthen retirement advice: Experts

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... of saying very normal things, [but] they're worried it's going to be perceived as advice. They are holding back and not helping their clients in a way that they could be capable of," she said. Heffron said it will be interesting to see what happens ...