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Advice dealer group rebrands

HARRISON WORLEY  |  MONDAY, 9 DEC 2019
... Services, we are pleased to continue our long-term commitment to advice businesses, in addition to providing them with access to next-generation technology and infrastructure to support the governance and delivery of advice." Donat said clients will ...

Deloitte hires from OneVue

ELIZA BAVIN  |  MONDAY, 9 DEC 2019
... system is set to dominate the ASX, with funds expected to own more than 60% of the market capitalisation of the ASX in the next 20 years. The analysis from the global consultant showed that the next 20 years will see Australia's retirement saving system ...

CFS culls grandfathered commissions, slashes fees

KANIKA SOOD  |  FRIDAY, 6 DEC 2019
... funds in its Managed Investment Fund (MIF) lineup, which together have about $3.5 billion invested in them. Starting March next year, CFS will turn off grandfathered commissions for these, and also revise down the fees. Culling grandfathered commissions ...

Former CBA exec takes over at Optus

ALLY SELBY  |  FRIDAY, 6 DEC 2019
... Singtel Group chief Chua Sock Koong said that Bayer Rosmarin will continue to build on Optus' success as it moves into the next phase of its 5G network. Bayer Rosmarin "brings a unique blend of technology, commercial and management expertise from a career ...

ETF investing at record highs: Report

ELIZA BAVIN  |  THURSDAY, 5 DEC 2019
... Alex Vynokur said self-licensed advisers also expect their allocation to ETFs to increase to 19% of client inflows over the next three years, compared to 11% for other advisers. "In an age of unprecedented regulatory scrutiny on their practices, financial ...

Chief economist update: Australian economy gently turning which way?

BENJAMIN ONG  |  THURSDAY, 5 DEC 2019
... the world. My back of the envelope calculations show that the Australian economy needs to grow by a bit over 0.8% over the next three quarters in order to meet the RBA's forecast of 2.5% GDP growth in the fiscal year ended June 2020. A tall ask ...

Bridgewater loses another chief

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
... has served as co-chief since 2014, with McCormick joining her to lead the firm since 2017. Murray is now set to pursue the next chapter in her career. "With the firm's management transition on solid footing, I feel now is a good time for me to leave ...

Regulators circle as scandal engulfs Westpac

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
... accountable persons - that broadly includes the board of directors, individually, the chief executive and by and large the next layer of group executives," Byres said. The prudential regulator chair said that each of these people have "their own obligations ...

ASIC bans direct life cold calling

HARRISON WORLEY  |  WEDNESDAY, 4 DEC 2019
... prohibited in the New Year.. ASIC will ban unsolicited cold calling in life and consumer credit insurance sales from January 13 next year, following a period of consultation with industry that saw none of the 15 submissions made oppose a ban on the practice. ...

Chief economist update: The Grinch steals Christmas

BENJAMIN ONG  |  WEDNESDAY, 4 DEC 2019
... the certainty of Trump's uncertainty means that financial markets and businesses would forever be second-guessing his next move, er, tweet. Perhaps it could be Trump's way of proving his genius on his latest call on the Fed to "Lower Rates & ...