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Increased local, international demand drives practice valuations

MATTHEW WAI  |  WEDNESDAY, 18 JUN 2025
... the data, including valuations for client registers filled with older clients - 80 years and over - skyrocketing. They are now achieving 1.5x recurring revenue, which is a 36% increase year on year. Meantime, books dominated by clients aged between 65 ...

Geopolitical risks force family offices into alternatives, cash: Survey

KARREN VERGARA  |  WEDNESDAY, 18 JUN 2025
... and is a critical factor in their capital allocation decisions. Alternatives are benefiting from increased allocations and now make up 42% of single-family office portfolios, up from 39% in 2022. Private credit and infrastructure specifically are the ...

Rest pilots Payday Super tech, moves to implement

JAMIE WILLIAMSON  |  TUESDAY, 17 JUN 2025
The $93 billion super fund will now work with its administrator to implement the Wrkr employer services platform in preparation for Payday Super. Rest completed a trial of Wrkr's employer services platform alongside MUFG Retirement Solutions, Rest employers ...

Boutiques wield independence, specialisation over larger managers: Research

KARREN VERGARA  |  TUESDAY, 17 JUN 2025
... Commenting on the latest findings, global network the Group of Boutique Asset Managers (GBAM) chair Tim Warrington said: "This is now the second academic, peer-reviewed study in recent years confirming what many investors already know: boutiques can ...

Pacific workers face barriers to claiming super: University

ANDREW MCKEAN  |  TUESDAY, 17 JUN 2025
... impression that many PALM workers would rather have immediate access to their money to help their families and communities now, rather than wait for retirement. "Further research can confirm these preferences and impressions." Whait added that the PALM ...

Middle Australia on track for 'comfortable retirement': ASFA

ANDREW MCKEAN  |  TUESDAY, 17 JUN 2025
... today's 30-year-olds reaping the rewards of decades of progress in our world-class super system," Delahunty said. "... we can now say that the system foundations are cemented for young, working people to have a comfortable retirement. It's a moment all ...

Ascalon hires from SCM, Zenith and GQG

ELIZABETH FRY  |  MONDAY, 16 JUN 2025
... Wealth and insurance lead at MLC. He also worked at Colonial First State as head of platform distribution. Hawke, who will now oversee portfolio construction, execution and client strategy, welcomed Roga to the team. "With his deep experience, proven ...

ASIC cancels Financial Services Group Australia's AFSL

KARREN VERGARA  |  MONDAY, 16 JUN 2025
... industry." FSGA and Holmes can apply to the Administrative Review Tribunal to review ASIC's decisions. While its AFSL is now cancelled, ASIC specified that FSGA must remain a member of the Australian Financial Complaints Authority (AFCA) and maintain ...

TAL partners to expand access to affordable insurance

MATTHEW WAI  |  MONDAY, 16 JUN 2025
... a life insurance product. Its research also found more Australians are prioritising life insurance, with two in five (60%) now holding some form of coverage, an increase from 55% last year. Despite a growing appetite for life insurance, there is a lack ...

TAL scores new super fund mandate

JAMIE WILLIAMSON  |  FRIDAY, 13 JUN 2025
... has won another group insurance mandate, replacing Zurich Australia. The insurance cover for Virgin Money Super members will now be provided by TAL. The fund, which is part of the Mercer Super Trust, said it regularly reviews its insurance arrangements ...