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Interest rates drive adviser conversations in 2024

KARREN VERGARA  |  THURSDAY, 25 JAN 2024
Interest rates will continue to be a driving force behind client conversations in 2024 as financial advisers remain agile regardless of whichever direction they will go. The rapid upward trajectory of interest rates - from 0.10% in April 2022 to today's ...

BlackRock bags Global Infrastructure Partners for US$12.5bn

ANDREW MCKEAN  |  MONDAY, 15 JAN 2024
BlackRock has struck a deal to acquire Global Infrastructure Partners (GIP) for US$12.5 billion in cash and common stock. The transaction will create an infrastructure private markets investment platform with a combined client assets under management ...

Blackstone appoints co-chief investment officers

JAMIE WILLIAMSON  |  FRIDAY, 12 JAN 2024
The private equity giant promoted two of its senior executives to the newly created roles, while promoting one other to the position of global co-head of real estate. Blackstone said the appointments are reflective of the increasing breadth of investment ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
The board of the Compensation Scheme of Last Resort (CSLR) estimates $241 million will be needed to fund claims lodged with the Australian Financial Complaints Authority (AFCA) between November 2018 and September 2022. The CSLR is set to begin receiving ...

Treasury to refresh financial adviser exam

KARREN VERGARA  |  MONDAY, 18 DEC 2023
The financial adviser exam is due for some changes as Treasury bids to make it more flexible. The consultation, which is open until 10 January 2024, is proposing several changes under the Corporations (Relevant Providers-Education and Training Standards) ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... as chief executive of Insignia Financial after two decades with the business claims the top spot as this year's most-read news item. Insignia said the decision was a mutual agreement between the business and Mota, with the chief executive saying ...

ASIC, APRA slam premium hikes

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... company made the conscious decision to keep increases for level premiums at a lower rate than for stepped premiums," the letter read. The regulators warned insurers to "strengthen their risk management frameworks and compliance assurance around re-rating ...

Boards unprepared for new workplace laws: Research

ROSE MARY PETRASS  |  THURSDAY, 14 DEC 2023
New research finds most directors are concerned their boards aren't fully ready to meet new workplace sexual harassment laws introduced this week. Effective December 12, the Australian Human Rights Commission is now enforcing the Positive Duty under ...

Mild recession in 2024, higher interest rates: Vanguard

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
... has increased, driven primarily by demographics, productivity growth, and higher structural fiscal deficits," the report read. "Policy rates are therefore likely to remain at heightened levels compared with periods following the Global Financial Crisis ...

A third of Aussies want life insurance advice: Research

CHLOE WALKER  |  THURSDAY, 7 DEC 2023
New research commissioned by the Council of Australian Life Insurers (CALI) shows the number of people receiving professional life insurance advice remains low, despite a third showing interest. The survey polled over 1000 Australian workers aged between ...