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BlackRock sets new AUM record

KARREN VERGARA  |  WEDNESDAY, 16 JUL 2025
... has been powered by its whole portfolio approach, "being the first firm to bring together active and index at scale ". "And now we're building on our foundational platform to redefine the whole portfolio once again by integrating public and private ...

Stop delaying Payday Super laws, says SMC

JAMIE WILLIAMSON  |  TUESDAY, 15 JUL 2025
... wages or face additional charges. There is currently about 3.3 million Australians with unpaid super, with the total bill now sitting at about $5.7 billion. Over the past decade, some $47 billion in super has gone unpaid. In FY23, the average impacted ...

TAL, Challenger help launch MLC Retirement Boost

KARREN VERGARA  |  TUESDAY, 15 JUL 2025
... advisers to use with their superannuation clients from August. Insignia Financial chief executive Scott Hartley said until now the super industry has treated the accumulation and decumulation phases entirely separately, and "we don't think that accurately ...

HUB24 reports record $136bn FUA

KARREN VERGARA  |  TUESDAY, 15 JUL 2025
... migrated from EQT in October 2024. Over FY24 and FY25, about $5.3 billion of FUA was migrated from EQT products to HUB24 and have now finalised. FUA also surged thanks to its takeover of ClearView's superannuation and pension business, WealthFoundations ...

Section 899 ditched but companies face tax uncertainties

KARREN VERGARA  |  MONDAY, 14 JUL 2025
... share buybacks as compared to dividend-paying stocks as dividends will be subject to these tax changes," he said. There are now lingering issues post-carveout. These are namely the conditions behind the deal that forged the exclusion of section 899 that ...

Mental illness payouts balloon over $2.2bn: CALI

MATTHEW WAI  |  FRIDAY, 11 JUL 2025
... health claims last year, according to new data from the Council of Australian Life Insurers (CALI). CALI said mental health is now the leading cause of total and permanent disability (TPD) claims, making up almost one in three claims paid. The $2.2 billion ...

Super moves: TCorp, Mercer, Commonwealth

ELIZABETH FRY  |  THURSDAY, 10 JUL 2025
... Finally, Erin Quinn has been named Mercer Super's head of risk. Promoted from within, the former senior risk manager is now responsible for the strategic oversight of the superannuation fund's risk frameworks, risk culture and training, and reporting. ...

Rest Super loses investment risk lead

ELIZABETH FRY  |  THURSDAY, 10 JUL 2025
... stint at Rest, I will be taking some time off before looking for my next opportunity," he told his LinkedIn community. "Having now worked at three profit-to-member funds, I'm not sure if I'll have enough time left in my career to work at the ...

Northern Trust selected to test tokenised asset uses

ELIZA BAVIN  |  THURSDAY, 10 JUL 2025
Project Acacia - first announced by the Reserve Bank of Australia (RBA) and Treasury back in September 2024 - will now include industry participants to explore how digital currencies and existing settlement infrastructure might support the development ...

Licensee compliance head banned over fees for no service

MATTHEW WAI  |  WEDNESDAY, 9 JUL 2025
The former head of compliance at a now defunct advice licensee has been banned for three years over the way he dealt with an adviser's fees for no service misconduct. Former Crown Wealth Group director and head of compliance Andrew Moore has been banned ...