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TelstraSuper enhances lifecycle arrangement, introduces new option

CASSANDRA BALDINI  |  THURSDAY, 17 AUG 2023
... longer and could benefit from a longer exposure to growth assets over the course of their super journey. "Working patterns are not as binary as they used to be. People are not only living longer, but they are also staying in paid work longer or working ...

Industry Fund Services enters strategic partnership

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
... profit-to-member super funds to develop a technology solution that is shaped by member needs and feedback, "and would focus not only on informing and advising, but also on helping nudge and shape member habits and behaviours that will help their retirement ...

ASIC proposes five-year extension to DDO

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
... to October 2028 and the removal of an outdated exemption concerning cashless welfare arrangements. "These amendments should not have a substantive effect on the operation of the instrument," the regulator said. The deadline for feedback on the proposal ...

Netwealth gears up to relaunch Core, market share expands

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
Netwealth will relaunch its Core offering in September, aiming to grow its footprint in the mass affluent and emerging affluent segments, driving new revenues and boosting net inflows. The wealth management company today reported a record funds under ...

Super funds lobby for super tax reform

KARREN VERGARA  |  WEDNESDAY, 16 AUG 2023
... Low Income Superannuation Tax Offset (LISTO) is a superannuation payment for workers on low incomes to ensure that they are not the only Australians paying more tax on their super than on their take home pay. Some 63% of all low-income workers receiving ...

Fund manager injects $28m in Stockspot

KARREN VERGARA  |  WEDNESDAY, 16 AUG 2023
... precarious digital advice landscape. Mirae Asset Global Investments announced its "major strategic investment" in Stockspot but did not disclose its percentage ownership in the robo-adviser. Stockspot currently manages more than $650 million on behalf ...

Retail investors ready to dive back in: Survey

CHLOE WALKER  |  WEDNESDAY, 16 AUG 2023
... and the unknowns they bring. About 17% of investors said they have very little or no confidence in the local market. "We're not quite back to pre-pandemic levels, but across multiple indicators, investor confidence is holding steady or lifting," he said. ...

Institutional investor pumps $750m into Qualitas fund

CHLOE WALKER  |  WEDNESDAY, 16 AUG 2023
The commitment to the Qualitas Construction Debt Fund II will allow the investment manager to capitalise on upcoming attractive opportunities in the commercial real estate (CRE) private credit sector. The commitment of $750 million by an unnamed institutional ...

Veteran adviser cops permanent ban

KARREN VERGARA  |  TUESDAY, 15 AUG 2023
... (PWM), and Professional Wealth Investments, will no longer be able to perform any functions in financial services as he is "not a fit and proper person" to do so. ASIC has subsequently cancelled the AFSL of PWMS with a condition that the external dispute ...

Super funds prime distributor of death, TPD cover

CHLOE WALKER  |  TUESDAY, 15 AUG 2023
Australians paid an estimated $13 billion in death and TPD premiums last year, more than half of which through superannuation funds, Rainmaker Information says. While the amount paid was up 5.5% per annum over the last decade, this rate of growth has ...