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Financial Planning

APRA ousts trustee of Melbourne super fund

The Australian Prudential Regulation Authority (APRA) has removed Reno Auto Sales as the corporate trustee of the Smith Group Superannuation Fund after the trustee was found to be operating the fund not in compliance to the requirements of the SIS Act.

BT's Corporate Super cup runeth over

DESS&R Market Share Quarterly Statistics has reported a 15.4 per cent industry inflow to BT Financial Group's corporate super products.

Former financial adviser imprisoned

The Victorian County Court has sentenced former financial adviser Robert Street to a gaol term of five years and three months with a non-parole period of four years after he pleaded guilty to five charges of obtaining a financial advantage by deception.

State Street Global Advisers alpha approach to picking winners and losers

State Street Global Advisors (SSgA) will offer investors increased exposure to the large-cap Australian equities market.

Strength in RFIs

Standard and Poors has found regional financial institutions (RFIs) to possess improved resilience to deal with an economic downturn following the ratings agency's latest review.

UniSuper Trustee investigated by ASIC on disclosure and complaints handling

ASIC has accepted an enforceable undertaking from the trustee of the UniSuper Fund regarding its disclosure and complaints handling procedures.

MLC Investment Trust gets stylish

Four new style funds previously available through MLC MasterKey will now be offered through the wholesale vehicle MLC Investment Trust.

New guide on rebates and commissions

A guide on rebates and related payments in the wealth management industry has been jointly released by the Investment and Financial Services Association (IFSA) and the Financial Planner Association (FPA) to improve both payment and remuneration practices.

Makeover for WHTM Asset Management

Boutique Australian equities funds manager WHTM Asset Management (WHTM) has undergone a complete overhaul including a name change, an ownership restructure, and the implementation of a cap on funds.

Aurora opens its distribution arms to LinQ as Paterson leads the way

Aurora funds management will open its distribution arms to LinQ Resources fund and assist in its raising of $65 million of new institutional and retail funds.