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Showing 21 - 30 of 100+ results for Karren Vergara

Adviser levy discount amounts to $8m saving

KARREN VERGARA  |  FRIDAY, 10 NOV 2023
Financial advisers are set to pay $400 less in the ASIC funding levy, saving the industry $8 million in total, according to new estimates from the Financial Advice Association Australia (FAAA). Based on two legislative instruments dated November 3 ...

Magellan downplays collapse, open to takeover

KARREN VERGARA  |  WEDNESDAY, 8 NOV 2023
The newly appointed executive chair of Magellan Financial Group played down the risk of the company collapsing and admitted that the fund manager is an attractive takeover target as he faced tough questions at today's annual general meeting. Andrew ...

Base rate lifts to 4.35%

KARREN VERGARA  |  WEDNESDAY, 8 NOV 2023
The Reserve Bank of Australia (RBA) hiked the cash rate to 4.35% as it continues to grapple with subduing inflation. RBA governor Michele Bullock yesterday pushed up the base rate by another 25 basis points, saying that while inflation in Australia ...

Morningstar executive lands at ART

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
Australian Retirement Trust (ART) has nabbed a Morningstar executive who most recently spearheaded institutional portfolios and solutions at the research house. Jody Fitzgerald will join the $260 billion super fund in late January 2024 as head of investment ...

ASIC updates qualified tax relevant provider definition

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
Financial advisers who are both a relevant provider and a registered tax agent now satisfy the definition of a "qualified tax relevant provider" without having to undertake specific courses, according to ASIC. The corporate regulator said it made a ...

AFCA consults on advice, MIS compensation

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
The Australian Financial Complaints Authority is seeking feedback on how it should determine compensation that involves financial advice and managed investment schemes (MIS). This includes how AFCA should determine compensation for investors affected ...

Wealth firm awards CFS Edge mandate

KARREN VERGARA  |  MONDAY, 6 NOV 2023
Colonial First State (CFS) has scored a wealth platform and managed accounts mandate with a large financial advice firm. Viridian Advisory, which has $7 billion in funds under administration, will use CFS Edge. Having officially launched in August ...

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
Soaring interest rates bolstered Westpac home and business loan books which ultimately saw the bottom line jump by 26% to $7.2 billion. The major bank's full-year performance to September reaped from $70 billion worth of home loans that transitioned ...

Dispute resolution failures land TelstraSuper in Federal Court

KARREN VERGARA  |  MONDAY, 6 NOV 2023
The corporate regulator is taking TelstraSuper to the Federal Court for allegedly failing to comply with internal dispute resolution requirements. ASIC alleges that 40% of the corporate superannuation fund's responses to complainants during a specific ...

Macquarie appoints Byres, half-year results decline

KARREN VERGARA  |  FRIDAY, 3 NOV 2023
Former APRA chair Wayne Byres will join the board of Macquarie Bank as the latter releases half-year results that are "substantially down" compared to this time last year. Byres is set to join as a non-executive director on 1 February 2024. Byres left ...