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FASEA reveals October exam results
KARREN VERGARA  |  THURSDAY, 26 NOV 2020
The majority of financial advisers who sat the most recent exam passed, according to the Financial Adviser Standards and Ethics Authority. FASEA has released the most recent exam statistics, which show 76% of advisers passed the October sitting. There ...
Reverse mortgages used to extinguish debt
KARREN VERGARA  |  THURSDAY, 26 NOV 2020
More older Australians are increasingly using reverse mortgages to pay off debt, a new survey found. RMIT University found two in five (44%) seniors used reverse mortgages to refurbish their homes after surveying over 9700 customers of Heartland Seniors ...
AMP Capital invests in UK port
KARREN VERGARA  |  THURSDAY, 26 NOV 2020
AMP Capital has secured a stake in a UK port operator via its infrastructure debt fund. The firm originated and closed a stake in a junior holdco facility secured against Peel Ports within its AMP Capital Infrastructure Debt Fund IV (IDF IV). Peel Ports ...
Australian Unity owes staff $4.3m
KARREN VERGARA  |  WEDNESDAY, 25 NOV 2020
Australian Unity has underpaid its aged care and disability services staff $4.25 million in wages, which could potentially blow out as it further investigates how much superannuation has to be back paid. Australian Unity said it initiated the review ...
ClearView streamlines underwriting
KARREN VERGARA  |  WEDNESDAY, 25 NOV 2020
ClearView Wealth has adopted Munich Re's digital platform to streamline the underwriting process and manage compliance obligations. ALLFINANZ Cloud, which was launched by Munich Re in 2019, will provide the cloud-based underwriting rules engine to speed ...
Industry fund shifts service functions to Link
KARREN VERGARA  |  WEDNESDAY, 25 NOV 2020
A major industry superannuation fund has outsourced all of its service centre functions to Link Group. From 1 March 2021, Hostplus' contact centre, communications, complaints and employer servicing functions will transition to Link Group and housed ...
ASFA adds board members
KARREN VERGARA  |  WEDNESDAY, 25 NOV 2020
The Association of Superannuation Funds of Australia has appointed two directors to its board. ASFA made way for Sunsuper chair Andrew Fraser and IOOF chief operating officer Frank Lombardo as additional directors after the passing of a special resolution. ...
T. Rowe Price launches entity, restructures
KARREN VERGARA  |  TUESDAY, 24 NOV 2020
T. Rowe Price will establish a separate US-based entity and platform that will house several of its strategies, promoting a veteran to lead the venture and a new team. Stephon Jackson, currently associate head of US equity, will become head of the new ...
Retail super funds grilled on member priorities
KARREN VERGARA  |  TUESDAY, 24 NOV 2020
A parliamentary inquiry has again cast doubt over retail superannuation funds' ability to put the best financial interests of members ahead of profit and shareholders. The most recent Standing Committee on Economics into super heard instances of ticket ...
SSGA names global investments chief
KARREN VERGARA  |  TUESDAY, 24 NOV 2020
State Street Global Advisors has welcomed a new global chief investment officer who will have oversight of the local business. Lori Heinel has been promoted to the new role after serving as deputy global chief investment officer since 2016 when she ...
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