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Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... they've looked to make things tougher for setting up an SMSF," she said. "So, I'm watching that with concern. It is not SMSF specific but it's finance-sector specific." Another piece of regulation - non-arm's length expenses (NALE) and ...

Too many Aussies eligible for wholesale products: FSC

ANDREW MCKEAN  |  TUESDAY, 13 FEB 2024
... access to a compensation scheme of last resort under certain circumstances. "The FSC is urging the government to use a scalpel, not a sledgehammer, when adjusting the thresholds, to get the balance right between the important role of wholesale products ...

Macquarie profits tumble; long-serving executive exits

ANDREW MCKEAN  |  TUESDAY, 13 FEB 2024
Macquarie Group has reported a "substantially lower" net profit after tax in FY24 and announced the departure of its long-serving head of commodities and global markets Nicholas O'Kane. Macquarie's annuity-style divisions, Macquarie Asset Management ...

AustralianSuper calls for an 'account for life'

ANDREW MCKEAN  |  MONDAY, 12 FEB 2024
... listen to superannuation members and seek to understand their changing needs, and in response develop holistic solutions which not only build the adequacy of their savings but also their confidence to spend these savings to improve their standard of ...

SMC finds $38k nest egg boost for working mums

KARREN VERGARA  |  MONDAY, 12 FEB 2024
... who need it the most," she said. Also in its submission, the SMC is urging the government to pay super to under-18 workers - not just those who work more than 30 hours a week. This could result in an extra $2600 in super contributions to the average ...

Prime to acquire boutique fund manager

KARREN VERGARA  |  MONDAY, 12 FEB 2024
... which has a staff of seven based in Brisbane. Prime will pay an initial consideration of $1.5 million but a purchase price not exceeding $4.2 million payable. This is subject to Altor achieving an annual EBITDA of $700,000 over a three-year period. Altor ...

Crypto fintech needed AFSL, court says

JAMIE WILLIAMSON  |  MONDAY, 12 FEB 2024
... are risky, inherently volatile and complex," ASIC deputy chair Sarah Court said. "ASIC remains concerned that consumers do not fully appreciate the risks associated with products involving crypto-assets and today's decision is an important step forward ...

Highest paid industry super executives revealed

ANDREW MCKEAN  |  FRIDAY, 9 FEB 2024
Australia's highest paid industry super executives have been revealed in an analysis obtained by Financial Standard. AustralianSuper chief investment officer Mark Delaney was the top earner, receiving over $2 million in total compensation, according ...

SIX launches share platform

RACHEL ALEMBAKIS  |  FRIDAY, 9 FEB 2024
... It's also really important to note that people that trade on SIX will own their own shares and have their own HIN - this is not fractional investing."

Advice reforms can solve retirement income challenges

KARREN VERGARA  |  FRIDAY, 9 FEB 2024
Opening up superannuation funds to more comprehensive financial advice could help solve some of the retirement income challenges Australians face, according to the Actuaries Institute. In its submission to the Retirement Phase of Superannuation consultation ...