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Major global trends impacting advisers

ELIZA BAVIN  |  FRIDAY, 25 OCT 2024
... grade corporate debt (42.5%) were highlighted as the biggest investment opportunities within the fixed income space in the next one-to-two years for Australian financial advisers, the survey found. On the other hand, almost half of those surveyed expected ...

CSLR warns adviser levy will balloon

KARREN VERGARA  |  FRIDAY, 25 OCT 2024
... calculated with the help of actuarial firm Finity, is expected to be lodged with parliament when it resumes sitting early next year. Some of the common themes of misconduct arising from the provision of personal financial advice the CSLR observes include ...

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
... Australian financial service licence (AFSL) following its failure to comply with licensee obligation. ASIC revoked the AFSL of Next Generation Advice (in liquidation) (Next Gen) after the Queensland Supreme Court ordered the company be wound up on August ...

Institutional outflows ensure mixed quarter for Insignia Financial

JAMIE WILLIAMSON  |  THURSDAY, 24 OCT 2024
... from NAB, greater cost savings, embedding the new structure, and working on the FY26-30 strategy which is to be announced next month.

Advisers share winning intergenerational wealth strategies

ANDREW MCKEAN  |  THURSDAY, 24 OCT 2024
The $3.5 trillion wealth transfer will be Australia's biggest economic event over the next 20 years, according to AMP Advice national lead Anjuum Siingh, who chaired a panel of financial advisers at the Financial Standard Retirement Income Forum today. ...

Operational risk reserve targets trimmed for larger funds

JAMIE WILLIAMSON  |  THURSDAY, 24 OCT 2024
... reserves in instances such as these, despite the reserves being fully funded and the trustees being entitled to do so. From next July, super funds with more than $30 billion in funds under management (FUM) will need to target 0.20%, while those with ...

Delaying DBFO imposes 'generational' consequences

MATTHEW WAI  |  THURSDAY, 24 OCT 2024
... CALI claims Australians will face a chain reaction of financial uncertainty over generations if DBFO isn't legislated by the next federal election. The first tranche of the bill passed the parliament in July. "Doing nothing won't just hurt today. It'll ...

IMF issues stark inflation warning for Australia

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2024
... report, the IMF predicted Australia would be one of two advanced economies with headline inflation above 3% by the end of next year, along with Slovakia. Despite Australia's poor economic outlook, the IMF said global growth is expected to remain stable ...

Magellan launches first Vinva funds

MATTHEW WAI  |  TUESDAY, 22 OCT 2024
... Magellan Asset Management launched the first two Vinva systematic equity funds, flagging a third fund to be made available next month. The launch follows the strategic partnership with Vinva in August, which includes becoming the distribution partner ...

APRA prioritises supervision of trustee spending

JAMIE WILLIAMSON  |  TUESDAY, 22 OCT 2024
... warranted." On October 30, APRA will publish RSE's expenditure data from FY23 and anticipates publishing the FY24 data early next year. This data will include detailed categories like administration, advice, member services, marketing, trustee board ...