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Showing 331 - 340 of 2126 results for "Financial Year"

Bragg calls for another Financial System Inquiry, critiques ASIC, APRA

ANDREW MCKEAN  |  FRIDAY, 23 FEB 2024
... initiated from ASIC referrals, dropping from 75% in 2018 - the year of the Royal Commission - to 19% in the last financial year. Meanwhile, Bragg expressed growing concerns about APRA's effectiveness, particularly regarding perceived shortcomings ...

Super contribution caps to rise on July 1

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
... by reducing demand for the Age Pension, so those who are in a position to make use of the increased limits next financial year should give serious consideration to doing so," he said. "Wages have been climbing at a relatively quick rate in recent years ...

ASIC vigilant on bad SMSF advice

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... conduct concerns, ASIC has deregistered 14 SMSF auditors and imposed conditions on 17 others so far in the 2024 financial year. Financial Standard is the official media partner of the 2024 SMSF Association National Conference.

Mergers a boon for super member growth

KARREN VERGARA  |  MONDAY, 19 FEB 2024
... from Perple - People Performance, underscored by mergers and stiff competition. Using APRA data of the 2022-23 financial year, Perple found that merger activities drove most of the movement in member numbers. Mercer recorded a whopping 181% jump in membership ...

Rest faces class action over IP premiums

CHLOE WALKER  |  MONDAY, 19 FEB 2024
... would not be able to obtain income protection cover by any other means or at a reasonable cost," they said. "Last financial year we paid out around $222 million in benefits to members across more than 10,000 income protection claims."

Magellan names Rahmani as new chief, reports NPAT lift

JAMIE WILLIAMSON  |  THURSDAY, 15 FEB 2024
... Magellan's total FUM came in at $35.8 billion, down some $17 billion over 12 months. In the first half of this financial year, it shaved about $4 billion, with $4.5 billion in outflows seen in global equities. Despite the outflows, Magellan reported ...

AMP reports boost in IFA flows, mulls advice unit options

KARREN VERGARA  |  WEDNESDAY, 14 FEB 2024
... AMP continues to seek alternatives for its advice unit as it reports another loss. In the first half of the 2024 financial year, the wealth firm recorded a 33% year on year jump in IFA flows into its flagship North platform. North's managed portfolios ...

Superannuation fund returns underperformed SMSFs: Research

ANDREW MCKEAN  |  WEDNESDAY, 14 FEB 2024
... returns for APRA-regulated superannuation funds lagged self-managed super funds (SMSFs) by 4.1% in the 2021-22 financial year, according to the University of Adelaide. During this period, while the S&P/ASX 200 index declined by more than 10%, the median ...

Prime to acquire boutique fund manager

KARREN VERGARA  |  MONDAY, 12 FEB 2024
... for our business and wealth segment clients." Prime recorded 28% growth in revenue of $33.7 million in the last financial year. Its net profit after tax was up 16% year on year to $2.2 million. Prime operates wealth management, capital and corporate ...

Highest paid industry super executives revealed

ANDREW MCKEAN  |  FRIDAY, 9 FEB 2024
... highest-paid executives of industry super funds collectively received $28.5 million in total compensation for the 2023 financial year, averaging $1.1 million each. Of this, variable remuneration, including incentive-based pay, constituted 22.4% or $6.4 ...