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Frydenberg appoints second APRA deputy chair

HARRISON WORLEY  |  TUESDAY, 18 SEP 2018
... at Australia's prudential regulator. John Lonsdale links with APRA as a full-time member and second deputy chair for the next five years, with a remit to strengthen the regulator in the face of the new Banking Executive Accountability Regime (BEAR). ...

Fintech specialist joins platform provider

JAMIE WILLIAMSON  |  TUESDAY, 18 SEP 2018
... Stevens chair Patrick Handley said. "Being responsible for developing our IT strategy, Mahoney and his team will implement a next generation wealth management platform for our advisers and their clients," Handley said. Mahoney is a former head of digital ...

Pengana flags private equity LIT launch

KARREN VERGARA  |  TUESDAY, 11 SEP 2018
... Group is working with a US$51 billion alternative asset manager to launch a global private equity listed investment trust next year. Pengana enlisted the help of Chicago-based Grosvenor Capital Management to select investments for the soon-to-be ASX-listed ...

How much your advice business will be worth in 2023

KANIKA SOOD  |  TUESDAY, 11 SEP 2018
... a director of professional and executive execution. Raftery expects one-third of advisers will leave the industry in the next five years, creating an oversupply of businesses that are up for acquisition. This will drive down the prices. The 0.75 multiple ...

Industry body rejects ABA banking code

KANIKA SOOD  |  MONDAY, 10 SEP 2018
... code of practice. "This call by the ABA is somewhat gratuitous given that the COBCOP was always scheduled for review early next year, before the new ABA code commences. We will take the new ABA code into account in that review," COBA chief executive ...

New code should apply to all: ABA

HARRISON WORLEY  |  FRIDAY, 7 SEP 2018
... standards between credit unions, buildings societies and others should not differ from banks, who will adopt the code in July next year. ABA chief executive Anna Bligh said it was important that customers were protected regardless of who they choose ...

Life insurer undertakes strategic review

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... to boutique dealer group, Spectrum Wealth Advisers. Freedom will face the sixth round of the Royal Commission, commencing next week.

Managed accounts could outstrip super sector on CIPRs

KANIKA SOOD  |  WEDNESDAY, 5 SEP 2018
... SSGA's head of retirement income solution Jonathan Shead said he would be surprised if there are any new products in the next 12 to 18 months. "Most super funds are not wanting to get ahead until the legislation is settled, which we expect to be ...

ETF market growth a benefit for all

HARRISON WORLEY  |  TUESDAY, 4 SEP 2018
... Classic or Coke Zero, or all those Coke products that go nowhere. They (new funds) have actually captured a lot of assets." Next week, Financial Standard is hosting a Best Practice adviser forum on managed accounts in Melbourne. Registrations close soon. ...

ACDC to power new battery ETF

HARRISON WORLEY  |  MONDAY, 3 SEP 2018
... transformation, adding the global market for advanced battery materials was expected to increase 50% to about USD$33 billion over the next four years. "Battery technology has advanced dramatically and is causing a structural shift in our use of energy ...