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Market wrap

AAP  |  TUESDAY, 22 APR 2014
The Australian share market is trading higher after solid corporate earnings reports lifted the United States market. Lonsec senior client adviser Michael Heffernan said the local bourse was trading on a positive note after the Easter break. "The pipe-opener ...

Wake-up call for watchdog after inquiry

LAURA MILLAN  |  TUESDAY, 22 APR 2014
... "a hybrid model where the profession itself deals with everything that has to do with professional standards so ASIC can focus on the systemic problems." A key issue for the financial planning community and the regulator is "to get in front of advice ...

AIA Australia launches daily risk information for planners

STAFF WRITER  |  WEDNESDAY, 16 APR 2014
... efficiency." "We know that advisers want to spend less time on dealing with the administration of clients' policies and instead focus on providing the best advice possible. We are constantly looking at different ways to help advisers do this, and Datafeeds ...

Could government issue its own annuities?

JAMES FERNYHOUGH  |  TUESDAY, 15 APR 2014
The government could play an active role in the creation of a functioning annuities and longevity insurance market, according to the Centre of Excellence in Population Ageing Research (CEPAR) in its submission to the Financial System Inquiry. While ...

WaveStone launches local long-only equity fund

STAFF WRITER  |  TUESDAY, 15 APR 2014
WaveStone Capital has launched a new long-only Australian equity fund which is designed to capture increasing demand for quality and growth-styled portfolios. The WaveStone Wholesale Australian Share Fund targets outperformance of the S&P/ ASX 300 Accumulation ...

ASIC admits wrongdoing in Senate hearing

LAURA MILLAN  |  FRIDAY, 11 APR 2014
The Australian Securities and Investments Commission (ASIC)'s top officials admitted that the regulator could have done more to prevent poor advice and malpractices in a tense five-hour Senate hearing. The hearing focused on ASIC's performance in dealing ...

PIS adds consultants amid Centrepoint capital raising

LAURA MILLAN  |  FRIDAY, 11 APR 2014
... distribution strategy and marketing Neil Rogan and they will work to support adviser practices and network growth. "Darren's focus will be to drive high performance across our national network and this will be key as we move into our growth phase," Rogan ...

Investec to sell local professional banking arm

MARK SMITH  |  FRIDAY, 11 APR 2014
... Investec's deposits business, and its asset finance and leasing businesses in Australia. Investec said the sale would allow it to focus on its core strengths across corporate and institutional banking, property funds management and investment banking. ...

EQT to buy ANZ Trustees for $150m

MARK SMITH  |  THURSDAY, 10 APR 2014
... into an organisation that will allow them to continue to provide their valued services in a business that shares the same focus and commitment to clients," Equity Trustees managing director Robin Burns said.

Class Super CEO departs suddenly

JAMES FERNYHOUGH  |  THURSDAY, 10 APR 2014
... 'significantly'," he said. Another reason for Smith's departure, according to Bungard, was that he wanted to narrow the company's focus exclusively on the self-managed superannuation fund administration product, while the board wanted to broaden the ...