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Associations need to raise standards themselves: Pearce

KATE HAGE  |  TUESDAY, 16 MAY 2006
Parliamentary Secretary to the Treasurer, Chris Pearce, has played down any chance of ramping up regulation over the financial planning industry and has urged key industry associations to take raising standards into their own hands. Opening the financial ...

Budget to pave the way for better advice: Stammer

KATE HAGE  |  FRIDAY, 12 MAY 2006
Treasurer Costello's 11th Budget will force financial advisers to focus on investments rather than taxes, attendees at an Association of Superannuation Funds Australia (ASFA) lunch were told yesterday. In his 26th ASFA post-Budget speech, leading economist ...

Electronic banking still lacks traction among over 55s: Commbank

WWW.THESHEET.COM  |  THURSDAY, 11 MAY 2006
Despite the push to promote electronic transactions among wealth management customers, slow take-up of electronic banking by older Australians suggests it still has a long way to go to really gain traction. Michael Cameron, Commonwealth Bank's head ...

Boomer Budget bonanza

ALEX DUNNIN  |  WEDNESDAY, 10 MAY 2006
The 11th Costello Budget, drawing almost universal praise from the superannuation industry, is tailor made to boost savings from lackluster boomers while its red tape reductions should see advisers get back to actually being advisers. "ASFA's calls ...

Fees are going up, but it wasn't meant to be

ALEX DUNNIN  |  TUESDAY, 9 MAY 2006
... meant to drive down fees. But fees are going up. Why? The answer is primarily due to the impact of the ASIC fee template. Yes, it's the government's fault. Not because compliance costs have added to super fund running costs, but because super funds are ...

Boutique fund Five Oceans adds portfolio manager

KATE HAGE  |  TUESDAY, 9 MAY 2006
A former resources analyst at Deutsche Bank Equities has jumped ship to take on the role of portfolio manager with new asset management start-up group Five Oceans Asset Management. Joe Kaderavek, who has worked as an investment analyst and logistics ...

Market wrap

AAP  |  FRIDAY, 5 MAY 2006
The Australian share market should open stronger and recover a fair chunk of the sharp losses from yesterday as base metal prices rebounded strongly overnight. Further improvements in the gold price should also boost investor sentiment, although this ...

Head of BNP Paribas Security Services shifts to UK role

Head of BNP Paribas Securities Services Australia and New Zealand (BNP), Gail Burke, stepped down yesterday to take up a newly created role in London as chief operating officer for the group's UK operations. Burke only took the up the position as head ...

Daily economic update

BENJAMIN ONG  |  WEDNESDAY, 3 MAY 2006
The Reserve Bank of Australia (RBA) finally put to rest market speculation over monetary policy by raising the official cash rate by 25 basis points to a five year high of 5.75 per cent. The RBA last lifted interest rates in March 2005. Market expectations ...

APRA super splitting extension flawed

KATE HAGE  |  TUESDAY, 2 MAY 2006
The Australian Prudential Regulation Authority (APRA) has extended contributions splitting for members to any roll-over funds and transfers made before the 1 July RSE license deadline, but according to some the policy is flawed. Terry Brigden, partner ...