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Australia's wealth takes half trillion hit

HARRISON WORLEY  |  MONDAY, 15 APR 2019
Latest research shows Australia lost close to half a trillion dollars in wealth at the end of 2018. According to Roy Morgan's latest Single Source Survey, the gross personal wealth of Australians (including owner-occupied homes) is currently around ...

Chief economist update: AUD misdirection

BENJAMIN ONG  |  MONDAY, 15 APR 2019
Early New Year predictions the Australian dollar would depreciate by the end of 2019 have been given a boost by the International Monetary Fund's (IMF) 'World Economic Outlook, April' report where it shaved its world GDP growth forecast ...

Bravura circles competitor

KANIKA SOOD  |  FRIDAY, 12 APR 2019
... and Highbury Partnership the financial adviser to Bravura. GBST's shares jumped 22.5% on the news from its previous close as at 11:54pm.

L1 eyes $70m for UK property fund

KANIKA SOOD  |  THURSDAY, 11 APR 2019
... outside of London where it believes the yields are growing largely uninterrupted by Brexit. The raise is slated for a June 30 close. The investors are expected to be financial planning groups, high net worth individuals and family offices. This is the ...

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
In the second half of last year ASIC brought criminal proceedings against nine individuals on 76 charges, with four people imprisoned as a result and $12.7 million imposed in civil penalties. ASIC also disqualified 28 directors and there were 72 instances ...

Platform provider wins mandate

KANIKA SOOD  |  WEDNESDAY, 10 APR 2019
An ASX-listed platform provider has won a mandate from a wealth firm for a new managed discretionary account service. Managed Accounts Holdings will work with First Point Wealth Management to set up an MDA service. The move comes as First Point Wealth ...

Chief economist update: Two indicators giving the Fed a headache

BENJAMIN ONG  |  TUESDAY, 9 APR 2019
... remain positive gauging from the March consumer confidence survey showing respondents saying "jobs were plentiful" remaining close to 18-year highs while those thinking that " "jobs were hard to get" (also within 18-year lows). Needless to say, these ...

KPMG partner moves to GROW Super

KARREN VERGARA  |  MONDAY, 8 APR 2019
A former KPMG partner and superannuation expert is joining GROW Super as head of strategy in May. Adam Gee will lead GROW's development strategy here and overseas, as well as implement the TINA platform, GROW's blockchain-enabled technology for superannuation ...

Pinnacle partners with former Blue Sky executives

KANIKA SOOD  |  THURSDAY, 4 APR 2019
Pinnacle Investment Management has taken a stake in a new boutique set up by former Blue Sky executives, after it withdrew its bid to take over management of the Blue Sky Alternatives Access Fund last year. Pinnacle has partnered with Brisbane-based ...

BlackRock names new Australasia head

KARREN VERGARA  |  WEDNESDAY, 3 APR 2019
BlackRock appointed a new head of Australasia to succeed Dominik Rohe. Andrew Landman will return from Hong Kong to Sydney to take the post in June. Rohe will become the head of the Latin America region. Landman was appointed head of the Asia Pacific ...