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Life insurance consumers shun financial advisers

KARREN VERGARA  |  FRIDAY, 19 JAN 2018
Australians are increasingly relying on the internet and digital devices to purchase life insurance instead of financial advisers, a new study from NobleOak shows. Almost half (43.6%) of the 1000 respondents in NobleOak and Pureprofile's 2017 life insurance ...

Citi veteran joins forces with listed equities manager

ALEX BURKE  |  FRIDAY, 19 JAN 2018
A long-serving Citi employee has become the deputy chief executive of a listed Australian equities investment company as part of the latter's succession plan. Newly-minted Milton Corporation deputy chief Brendan O'Dea joined Citi in 1995 as an internal ...

Industry fund cuts life premiums, renews insurer

KARREN VERGARA  |  FRIDAY, 19 JAN 2018
An $11 billion industry superannuation is reducing its life and total and permanent disability (TPD) insurance premiums for younger members by as much as 50%. MTAA Super recently renewed its long-standing partnership with MetLife to June 2020. The pair ...

Chief economist update: The good news and the good news

BENJAMIN ONG  |  FRIDAY, 19 JAN 2018
... last year, Li set the 2017 growth target of "around 6.5%, or higher if possible". China's growth rate this year will be close to the number PM Li sets - faked, or manipulated, or real. Ben Ong is the Director of Economics and Investments at Rainmaker ...

Venture capital sector booming but needs greater government support

KARREN VERGARA  |  THURSDAY, 18 JAN 2018
Millennial super fund Spaceship, artificial intelligence and machine learning companies were among the beneficiaries of Australia's booming venture capital market in 2017, but two industry bodies have called on the Government to increase its support ...

In-house education key to super success

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2018
One of Australia's largest superannuation funds is encouraging parents to educate children on the importance of saving for retirement as new data shows young Australians accumulate super faster than ever before. Member data released by QSuper shows ...

Industry veteran to join YBR executive team

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2018
A non-executive director with Yellow Brick Road is resigning in order to join the company's leadership team. Industry veteran Frank Ganis will take on an advisory role with Yellow Brick Road, stepping down from the board position he accepted in August ...

Offshore investment vehicles await passport arrival

KARREN VERGARA  |  TUESDAY, 16 JAN 2018
The Federal Government is close to re-drafting legislation to allow offshore investment vehicles to operate in and from Australia as early as June, Revenue and Financial Services Minister Kelly O'Dwyer says. The long-awaited Asia Region Funds Passport ...

Citigroup takes action on pay inequality

JAMIE WILLIAMSON  |  TUESDAY, 16 JAN 2018
... be the first US bank to begin disclosing wage data and adjusting employee salaries as part of a company-wide strategy to close the pay gap for women and minorities. The organisation confirmed it is taking steps to disclose gender and ethnicity wage data ...

Australia overdue for company tax cut: Spot poll

KARREN VERGARA  |  MONDAY, 15 JAN 2018
... but could have detrimental longer-term economic consequences. Fels said: "Arguably, the last thing an economy operating at close to full employment in the ninth year of an economic expansion needs is a shot in the arm from fiscal policy. Adding around ...