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Showing 5521 - 5530 of 20553 results for "BEN"

Chief economist update: Fed cut and Trump's war

BENJAMIN ONG  |  MONDAY, 5 AUG 2019
The US Federal Reserve gave markets exactly what they were expecting - a 25 basis point reduction in the Fed funds rate at the conclusion of its July FOMC meeting - but instead of revving up the risk on trade, it was risk off. Equity markets fell. The ...

Former adviser cops 20-year prison sentence

JAMIE WILLIAMSON  |  FRIDAY, 2 AUG 2019
A former financial adviser in the US will spend the next 20 years behind bars after defrauding retiree investors of $30 million, some of which was used to fund religious ceremonies to ward off federal investigators. Dawn Bennett of Maryland was this ...

Unfair contract terms extended to insurance

KARREN VERGARA  |  FRIDAY, 2 AUG 2019
The Federal Government is extending the unfair contract term regime to insurance contracts. Treasurer Josh Frydenberg said proposed amendments to the Unfair Terms in Insurance Contracts Bill 2019 announced this week is the result of the Coalition taking ...

Willis Towers Watson buys Aussie broker

KRISTI CHENG  |  FRIDAY, 2 AUG 2019
Global advisory Willis Towers Watson has acquired Risk Capital Advisors (RCA), a specialist mergers and acquisitions broker in Australia, New Zealand, and South Africa. The acquisition is effective immediately, enhancing WTW's offering to clients in ...

AFA, FPA slam haste in ending grandfathered commissions

KRISTI CHENG  |  FRIDAY, 2 AUG 2019
The Financial Planning Association of Australia (FPA) and the Association of Financial Advisers (AFA) have both criticised the time frame given to phase out grandfathered commissions. Treasurer Josh Frydenberg announced earlier this week legislation ...

Pengana adds fee class for global equities fund

KANIKA SOOD  |  THURSDAY, 1 AUG 2019
The $97 million Pengana International Fund will now be available with a lower base fee and a performance fee structure, in response to adviser demand. Pengana has traditionally offered the fund to financial advisers at a flat 0.974% management fee per ...

Patersons launches first SMAs

ELIZABETH MCARTHUR  |  THURSDAY, 1 AUG 2019
Patersons Securities has launched its first separately managed account offerings. The stockbroking and wealth management firm released two SMA models this week. The models had previously been run by Patersons as in-house model portfolios. It is the ...

Final nail in the coffin for grandfathered commissions

KANIKA SOOD  |  TUESDAY, 30 JUL 2019
The government will introduce legislation this week to end the payment of grandfathered commissions to financial advisers by 1 January 2021. Federal Treasurer Josh Frydenberg and assistant minister for superannuation, financial services and financial ...

UniSuper advice offering surges

KARREN VERGARA  |  TUESDAY, 30 JUL 2019
Demand for UniSuper's specialist advice offering has nearly quadrupled in the last five years, peaking at $13 billion in funds under advice at the end of June 2019. The $80 billion superannuation fund recently opened a member centre in Adelaide ...

Sydney portfolio manager on best female fundies list

KANIKA SOOD  |  TUESDAY, 30 JUL 2019
The Sydney-based portfolio manager of an Aussie equities fund has earned a spot on Citywire's list of the top 30 female fund managers across the globe. Kate Howitt, the manager for Fidelity Australian Opportunities Fund since 2012, came in at 27th ...