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ANZ cleared of $50m fee bungle

KANIKA SOOD  |  FRIDAY, 14 JUN 2019
... announced it will no longer offer the Prime Access service to new customers and will phase it out for current customers over the next 18 months. ASIC will monitor the phasing out of Prime Access," ASIC said. At the time of the undertaking last April ...

Finnies showcase best in fintech

ELIZABETH MCARTHUR  |  THURSDAY, 13 JUN 2019
... their customers which was demonstrated in the quality of the finalists in the partnership awards," Shot-Guppy said. "Over the next 12 months we will see the continued rise of neobanking in Australia, the launch of Open Banking and perhaps another of ...

DomaCom launches senior equity release product

ELIZABETH MCARTHUR  |  THURSDAY, 13 JUN 2019
... asset rich and cash poor. Hence accreditation is crucial and the first group of advisers will be going through that over the next few days." DomaCom said it took six and a half years for the company to secure the necessary reliefs from ASIC to launch ...

Fund manager strengthens alternatives capabilities

ELIZABETH MCARTHUR  |  THURSDAY, 13 JUN 2019
... public entities, employees, and industrial partners, with the highest quality of service." "We aim to double our AUMs over the next years, building on our track record in delivering long-term value in infrastructure investments for our clients." They ...

Chief economist update: The Budget surplus can wait

BENJAMIN ONG  |  THURSDAY, 6 JUN 2019
... before it flows through into general economic activity. Suddenly, gloom and doomers are crawling out of the woodworks - my next-door neighbour would be pleased at being proved correct for he has been telling me Australia is heading for a recession... ...

Risk commission changes imperil advice practices

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2019
... Commission's recommendations on life risk commissions will have an adverse impact on their business if introduced in the next 12 months. The 2019 Adviser Experience Survey found the changes will threaten the commercial viability of many advice practices ...

Super figures point to NSW victory

HARRISON WORLEY  |  WEDNESDAY, 5 JUN 2019
... going to be up against it in the early stages. Though despite NSW's fast start, the Queenslanders fight back to take the next two categories: average fees and death and total permanent disability default premiums. When it comes to fees, NSW are a ...

Chief economist update: The path of monetary policy according to Lowe

BENJAMIN ONG  |  WEDNESDAY, 5 JUN 2019
... offer much indication of the way forward. As in the May statement, the economy is expected to grow by 2.75% this year and the next; employment growth is strong but could be better; inflation is lower than expected but "the central scenario remains for ...

New AI innovation for Praemium

ELIZABETH MCARTHUR  |  TUESDAY, 4 JUN 2019
... advice, rather than waiting for a periodic review." He explained that incorporating artificial intelligence was a logical next step for the platform. "Machine learning and AI isn't a future development, it's happening now and this is Praemium's first ...

Chief economist update: US recession in the offing

BENJAMIN ONG  |  MONDAY, 3 JUN 2019
... five percentage points the following month and every month thereafter until reaching 25%. This sent US equities lower the next day and last trading day of May - Dow (1.41%), S&P 500 (1.32%), Nasdaq (1.51%), Russell 2000 (1.35%). Meanwhile, 10-year US ...