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Retiree dilemma: Supporting children or preserving lifestyle?

ANDREW MCKEAN  |  MONDAY, 3 JUN 2024
... generations being crammed under a single roof. This trend is evidenced by Melbourne Institute research, which shows that half of Australians aged 18 to 29 still live at home. Interestingly, the latest Census showed that younger Australians with 25-39-year-old ...

MIESF adjusts insurance premiums

ANDREW MCKEAN  |  MONDAY, 3 JUN 2024
... $35,000 and no TPD cover will see a decrease from $6.89 to $5.54. Notably, the death and TPD benefit payable is restricted to half of the cover amounts until one year after MIESF receives an eligible member's first Superannuation Guarantee (SG) contribution ...

HESTA pushes for expediated advice reforms

ANDREW MCKEAN  |  MONDAY, 3 JUN 2024
... contributions, adjusting investment options, or changing retirement dates, might affect their retirement outcomes. Also, almost half of the members using Future Planner request further in-person advice. HESTA chief executive Debby Blakey said the fund's ...

Australians selling assets over seeking help: ASIC

ELIZA BAVIN  |  MONDAY, 3 JUN 2024
... lack of awareness and emotional barriers were holding Australians back from asking for help when they need it. More than half (55%) said they were not aware that they were entitled to ask their bank or lender for financial hardship assistance and just ...

ASIC suspends AFSL for six managed investment schemes

ELIZA BAVIN  |  THURSDAY, 30 MAY 2024
... managed investment schemes for the financial year ending 2023, excluding the Aurora Fortitude Absolute Return Fund for the half-year ending 31 December 2023. The licence suspension means that Aurora cannot provide financial services including issuing ...

Market pessimism over Insignia 'overblown'

ELIZA BAVIN  |  WEDNESDAY, 29 MAY 2024
... market share looks to be steadying from consecutive declines. The advice business achieved EBITDA profitability in first half fiscal 2024 after five halves of losses," Ler said. "The odds of multiple expansion are good, particularly if outflows lessen ...

Former Queensland adviser struck off permanently

ANDREW MCKEAN  |  WEDNESDAY, 29 MAY 2024
... counts of fraud totalling $652,500. He was sentenced to six years imprisonment with eligibility for parole after one and a half years. In sentencing Gordon, the presiding Judge condemned his actions as "deliberate, fraudulent and unforgiveable given ...

Clime to offload Madison Financial Group

JAMIE WILLIAMSON  |  MONDAY, 27 MAY 2024
... Infocus will pay $2 million for the licensee and platform, using a three-year convertible note with 8% per annum coupon payable half yearly. Upon conversion, Clime can take cash or shares in Infocus. At the same time, Clime and Infocus will commence ...

Platform reveals advice firms' top issues

KARREN VERGARA  |  FRIDAY, 24 MAY 2024
... focus, we can see conversations around retirement and Centrelink, two related topics, were significantly higher in the second half of 2023, likely reflecting the increased advertising and marketing by providers in this space." Advisers frequently talked ...

Geopolitical risks push APAC family office allocations locally

KARREN VERGARA  |  FRIDAY, 24 MAY 2024
... five years. Consequently, many are forced to pivot their asset allocations to local regions. To buffer the risks, nearly half of these family offices plan to allocate more assets to Asia Pacific over the next five years. Portfolios have already moved ...
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