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Direct life insurance review underway: ASIC

KARREN VERGARA  |  FRIDAY, 28 JUL 2017
... practices exist and will ultimately lead to better consumer outcomes. A number of indicators prompted the regulator to take a close look at the direct life insurance space, Saadat said, pointing to higher rates of denied claims at an average of 12% ...

Suncorp Tower takeover denied by competition watchdog

EMMA RAPAPORT  |  THURSDAY, 27 JUL 2017
Fears that "substantially lessened" competition in New Zealand's personal insurance market would result from Suncorp's takeover of Tower has led to the New Zealand Commerce Commission denying the proposed merger. In a statement commission chairman Mark ...

Boutique manager selects A-REIT and small-cap specialists

DARREN SNYDER  |  THURSDAY, 27 JUL 2017
Alpha Fund Managers, the funds management subsidiary of Infocus Wealth Management, has enlisted a further two funds to its multi-manager suite. The first addition is the Investors Mutual Limited (IML) Small Cap Fund, which aims to deliver consistent ...

No age limit on great advice

JAMIE WILLIAMSON  |  THURSDAY, 27 JUL 2017
... planners that are coming through and it can only get better." Nominations for the 2017 ANZ/AFA Rising Star of the Year Award close on Friday 28 July with the winner announced at the AFA National Adviser Conference in October on the Gold Coast.

The challenges of modern estate planning

ALEX BURKE  |  WEDNESDAY, 26 JUL 2017
... whole or partial dependent who is a household member; a grandchild and household member; and finally, a person who was in a "close personal relationship" with the deceased at the time of their death: this can be two adults, not necessarily related, not ...

Equity Trustees names philanthropy lead

KARREN VERGARA, JAMIE WILLIAMSON  |  TUESDAY, 25 JUL 2017
A former National Australia Bank executive has joined Equity Trustees as its new general manager of charitable trusts and philanthropy. Jodi Kennedy joins the firm's trustee and wealth services division from NAB where she was head of community engagement ...

Government gives super system further makeover

DARREN SNYDER  |  TUESDAY, 25 JUL 2017
... governance, transparency, and increasing choice for members," O'Dwyer said. Public consultation over the draft legislation will close on Friday, 11 August 2017. Other important proposals include: Requiring funds to report and publish annually more transparent ...

AMP Capital appoints independent directors

KARREN VERGARA  |  FRIDAY, 21 JUL 2017
... industry in Australia and overseas. He was most recently chief executive at Suncorp Group's banking and wealth division for close to three years and prior to that was chief financial officer. Before joining Suncorp, he spent six years at Perpetual as ...

Good jobs, sluggish pay

BENJAMIN ONG  |  FRIDAY, 21 JUL 2017
Although not completely gangbusters, the latest Australian labour market update provided another justification for the optimism and seemingly hawkish turn the Reserve Bank of Australia (RBA) conveyed in the minutes of its 4 July board meeting. The Australian ...

New executives to drive NGS Super growth

JAMIE WILLIAMSON  |  THURSDAY, 20 JUL 2017
NGS Super will soon welcome two new senior executives including NESS Super's current chief executive. Angie Mastrippolito has been named as the new chief operating officer for the $8 billion industry fund. Mastrippolito has been the chief executive ...