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Investment

IRESS renews NAB wealth tech agreement

MELANIE TIMBRELL  |  MONDAY, 3 SEP 2012
National Australia Bank has retained IRESS with a renewed multi-year agreement for the supply of wealth technology to the bank's advice channels.

Asset Super and CareSuper merger set for October

MELANIE TIMBRELL  |  MONDAY, 3 SEP 2012
After a year of delays, industry super funds Asset Super and CareSuper said Friday they would merge on October 26 this year.

Powerwrap's platform offers advisers full choice

LINDA HAUSKEN  |  MONDAY, 3 SEP 2012
Powerwrap Limited has upgraded its SMARTwrap platform as part of its overall business strategy to offer independent financial advisers full choice at what they regard as a reasonable price.

Retail investors buy hybrids despite dangers

LINDA HAUSKEN  |  MONDAY, 3 SEP 2012
While non-retail investors avoid buying hybrid securities, retail investors and their advisers chase after the alluring high yields of these complex products without seriously considering the high level of risks involved, according to an industry professional.

Investment banking scale down: Barclays

BEN COLLINS  |  MONDAY, 3 SEP 2012
British bank Barclays may scale down its investment banking arm, after new chief executive Antony Jenkins said new regulations would "make some activities in investment banking difficult to make an adequate return on."

Buying volatility a viable alternative

BEN COLLINS  |  MONDAY, 3 SEP 2012
Futures on the VIX exchange can allow funds to diversify portfolios by buying volatility, said Chris Thompson, Portfolio Manager, Advance Asset Management.

Loss "disappointing": Austock

BEN COLLINS  |  MONDAY, 3 SEP 2012
Austock Group has reported a full year after tax loss of $16 million, blaming one-off costs from the sale of its securities business and regulations which tied up capital.

Self-reliant investors need professional advice: SFG

MELANIE TIMBRELL  |  FRIDAY, 31 AUG 2012
Clients who are becoming more self-reliant and focusing on 'when to retire' need professional advice, according to SFGA's managing director Tony Fenning, who yesterday delivered a 6% increase in FY12 underlying NPAT for the merged advice firm.

Wealthtrac revises structure for independent market

MELANIE TIMBRELL  |  FRIDAY, 31 AUG 2012
Independent platform provider Wealthtrac has updated their pricing for advisers to address the fee-for-service environment, including lowering the administration fee cap.

Barclays announces new CEO amid new investigation

MELANIE TIMBRELL  |  FRIDAY, 31 AUG 2012
Barclays has named head of retail and business banking Anthony Jenkins new chief executive, just one day after the announcement the Serious Fraud Office (SFO) had launched an investigation into a 2008 deal with Qatar's sovereign wealth fund.