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Hockey signals pension age might climb to 70

ALEX DUNNIN  |  FRIDAY, 11 APR 2014
... Reinventing Bretton Woods Conference,' in Washington, the Treasurer said the number of retirees in Australia will double over the next few decades to nearly 7 million and to fund their welfare payments will require the government to raise the equivalent ...

ASIC admits wrongdoing in Senate hearing

LAURA MILLAN  |  FRIDAY, 11 APR 2014
... Commonwealth Bank's financial planning unit. ASIC commissioner Peter Kell admitted that "it took us too long to move to the next step" when it became apparent that Commonwealth Financial Planning (CFP)'s management was not responding to the regulator's ...

Investec to sell local professional banking arm

MARK SMITH  |  FRIDAY, 11 APR 2014
... represents a significant opportunity for both the professional finance and asset finance & leasing businesses as they pursue their next phase of growth," Investec chief executive Ciaran Whelan said. "Investec Group remains committed to the Australian ...

EQT to buy ANZ Trustees for $150m

MARK SMITH  |  THURSDAY, 10 APR 2014
... expects the acquisition to deliver at least $4 million of synergies (pre-tax). "Approximately 60 employees will join EQT in the next few months. They will be welcomed into an organisation that will allow them to continue to provide their valued services ...

SSFS appoints general manager to drive expansion

LAURA MILLAN  |  THURSDAY, 10 APR 2014
... this new role and we are pleased to welcome him to the senior executive team," Monaghan said. "This appointment is a crucial next step in the evolution of our business. It signals our ongoing commitment to growth and to building on State Super Financial ...

Advisers under threat from robot replacements

LAURA MILLAN  |  WEDNESDAY, 9 APR 2014
... replaced by robots or artificial intelligence, which puts it among the 10 professions most likely to be computerised in the next 10-20 years, according to Oxford University's Oxford Martin Program research into the impacts of future technology. "The ...

Time to go away?

BENJAMIN ONG  |  TUESDAY, 8 APR 2014
... Could it be that investors have taken a second look at these sectors, and found that they have paid huge premiums to own the next big things... in the excitement of it all? As 1upwallstreet.com explains, "Mobile and/or social media companies like Twitter ...

Advisers show overwhelming support for ETFs

MARK SMITH  |  MONDAY, 7 APR 2014
... Opportunities" seminar in Melbourne found that 91% are currently allocating to ETFs while 100% would consider doing so in the next 12 months. Nearly half (48%) are currently allocating 5-15% and a quarter (24%) are allocating more than 25%. The survey ...

Banks eye Google Glass as tech opportunity

LAURA MILLAN  |  FRIDAY, 4 APR 2014
... the nearest ATM machines, to transfer funds and to check their account balances. "Wearable technology is expected to be the next stage of the tech evolution," Westpac chief digital officer Simon Pomeroy said. The bank is also working on an application ...

Insurance industry still behind on big data usage

LAURA MILLAN  |  THURSDAY, 3 APR 2014
... Research found that the majority of insurers have modernised their administration systems or are planning to do so within the next five years. But 23.7% said that modernisation is not on their radar at the moment.