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General

Midday market wrap: All Ords continues downward slide

The All Ordinaries lost further ground in morning trading as investor confidence slipped to further lows fuelled by worries of war in Iraq.

Financial planners must raise their game on advice, fees: Morgan

Australia’s wealth management industry must improve the quality of advice and transparency of its fee structures to regain the confidence of suspicious consumers, according to Westpac’s chief executive officer David Morgan.

Morning market wrap: No respite for US investors

Investors in the US were still looking for the bottom of the market as the Dow Jones index closed lower again, beset by uncertainty surrounding Iraq and an economy that is proving stubbornly resistant to recovery.

Self Managed Super Funds to grow 200% by 2010: TSG

The Self Managed Super Fund (SMSF) industry is set to grow 200% to $300 billion worth of funds under management, according to Grant Abbott of Sydney-based SMSF specialists The Strategist Group (TSG).

Product suppliers failing to meet advisers' expectations: survey

Financial product suppliers are failing to meet the expectations of financial advisers in a number of key areas, according to research conducted by Taylor Management consultants.

Survey confirms fall in business confidence for February

Rising geo-political tensions and weakening equity markets are increasingly impacting on business investment and the employment sector, according to the National Australia Bank’s (NAB) monthly business survey for February.

Suncorp replaces Moynihan with ex-CBA exec in wealth management

Suncorp Metway has appointed former Commonwealth Bank of Australia (CBA) executive Bernadette Fifield to run its wealth management division in place of Greg Moynihan, who departs after 16 years with the group, it announced today.

Zurich appoints ex-Deutsche economist as director of investments

Zurich Financial Services Australia (ZFSA) has appointed former Deutsche Asset Management chief economist Matthew Drennan as its director of investments, it has announced.

Financial services urged to obtain their AFS licenses soon

The Australian Securities and Investments Commission (ASIC) today reminded all financial service providers that they must obtain their Australian financial services (AFS) licence in time if they are to continue operating beyond March 10 2004.

Macro hedge funds gain from rising gold, falling dollar:Hennessee

Hedge fund managers with a Macro approach to the markets have been able to return 4.30 per cent so far this year, according to New York-based hedge fund advisory firm Hennessee.