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Financial services most at risk from disruption

MARK SMITH  |  THURSDAY, 24 SEP 2015
... down by legacy systems, regulatory requirements, budget allocations and our tendency to avoid risk," she said. "Over the next decade there will be banks that successfully make the transition through digital disruption and banks that will die. Frankly ...

Chief executive departs mine industry super fund

DARREN SNYDER  |  THURSDAY, 24 SEP 2015
... years. "After achieving substantially more for the organisation than expected over the last 10 years it's time to find my next opportunity to create value through developing and aligning people with the organisation's strategy," Watson said. Mine Wealth ...

Many APLs still block managed account usage

STAFF WRITER  |  WEDNESDAY, 23 SEP 2015
... explains why almost all the major wealth management brands - AMP, CFS, BT, ANZ, Macquarie, MLC, netwealth - now offer these next generation platform solutions to their advisers, whether that be in partnership with managed account platform providers Praemium ...

Super tax reform on hold for election

DARREN SNYDER  |  WEDNESDAY, 23 SEP 2015
Serious tax reform in finance is likely to be progressed in the next term of federal government according to Shadow Treasurer Chris Bowen. Speaking to the AFR Tax Reform Summit, Bowen said the change in federal government leadership was close to the ...

Bad news day

BENJAMIN ONG  |  WEDNESDAY, 23 SEP 2015
... lawmakers have only until 30 September (a full week) to pass a new budget for their fiscal year that starts on the 1st of next month. And it's real. As per Business Insider, "Stan Collender, who has worked on both the House and Senate Budget Committees ...

Aussie, Aussie, Aussie! Noi, noi, noi!

BENJAMIN ONG  |  TUESDAY, 22 SEP 2015
... Australia's annual growth rate will be 2.5 per cent from 2020 onwards, making it harder to return the budget to surplus early next decade." Another described the Australian economy as toast. This was the Sydney Morning Herald quoting NAB Chief economist ...

NAB Prosper launches next month

DARREN SNYDER  |  MONDAY, 21 SEP 2015
... said. NAB Prosper will be rolled out in early October, progressively reaching 40,000 internet banking customers over the next couple of months before the bank seeks feedback in attempt to roll it out further. NAB Prosper will have a dedicated retirement ...

Room to move on super investment fees

DARREN SNYDER  |  MONDAY, 21 SEP 2015
... super funds were already taking charge of investment fee structures. She said if super funds grew at 10% per annum for the next five years, investment fees alone would jump from $3.1 billion to $5.5 billion - based on a 0.78% management expense ratio ...

KPMG pinpoints stagnant insurance industry

ALEX BURKE  |  FRIDAY, 18 SEP 2015
... of respondents say that increased competition from their existing competitors would create significant challenges over the next 2 years." He added, "However, the report also finds that - while insurers clearly recognise the innovation imperative - most ...

Expect slow "boil" Fed hikes: Hamish Douglass

MARK SMITH  |  FRIDAY, 18 SEP 2015
... to cut and commodity prices remain weak - so there is no change to my view that the $A will fall to around $US0.60 in the next 12 months or so."