|Macquarie Group is consolidating its private bank and private wealth businesses to concentrate its growth strategy on high net-worth (HNW) clients, a move it expects to affect advisers.|
|High-net-worth investors, particularly the growing Asian cohort, have boosted the global art market by 12% after two years of decline.|
|Despite numerous initiatives to curb foreign investment, Australia is still a destination of choice for ultra-wealthy investors, according to Knight Frank's wealth report.|
|Philanthropy is becoming part of the conversation between financial advisers and clients as it's an area increasingly accessible to middle Australians, an estate planning expert says.|
|Equity Trustees appointed a grants program manager to oversee one of Australia's largest philanthropic trusts.|
|Art buyers and investors pay female artists up to 50% less for their work compared to men on average, latest academic research has found.|
|Australian billionaires amassed a $115.4 billion fortune in FY17, representing a 140% jump since the Global Financial Crisis, according to an Oxfam analysis.|
|The growth in Australia's high-net-worth sector is outpacing superannuation on two key fronts, according to Rainmaker research.|
|Australian retail magnate and pre-eminent philanthropic figure Sir Frank Lowy is selling the Westfield retail empire he co-founded to a Parisian commercial property company.|
|Encouraging clients to engage in philanthropic activities in the lead up to Christmas can assist financial advisers in strengthening the advice relationship, according to Australian Unity Trustees.|
A new superannuation fund hoping to bridge the retirement savings gap will launch with the hope of disrupting the system that has disadvantaged women.
The general manager of superannuation and retirement solutions at a $57 billion industry fund has resigned, with the hunt commencing for a replacement.
Praemium saw funds under administration hit $16.1 billion over the last financial year, thanks largely to its off-platform managed accounts service.
OnePath has moved to enhance the abilities of financial advisers using its OneView Life client management portal.
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