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Investment

AMP to take full ownership of Futuro

LINDA HAUSKEN  |  MONDAY, 27 AUG 2012
AMP has outlined plans to take full ownership of independently owned Futuro Financial Services (FFS) and merge the advice business with its own dealer group Charter Financial Planning by 2017.

ANZ CEO sells shares to fund debt, tax

BEN COLLINS  |  MONDAY, 27 AUG 2012
ANZ chief executive officer Michael Smith has sold $10.8 million worth of shares in the bank.

MLC CIO steps down

LINDA HAUSKEN  |  MONDAY, 27 AUG 2012
MLC Investment Management, chief investment officer Nicky Richards has resigned from her role, officially departing the firm in October.

Cost reductions dampen IRESS result

MARK STORY  |  MONDAY, 27 AUG 2012
Financial services systems supplier IRESS saw its first half underlying profit fall 7.4% to $27.8 million on the back of reduced activities by broker clients in response to low transactions levels.

We're not obsolete: Brokers defend their patch

BEN COLLINS  |  MONDAY, 27 AUG 2012
Despite a flurry of recent mergers, courtesy of reduced appetite for equities, regulatory changes and market volatility, the role of Australian stock brokers is far from obsolete.

We're revolutionising financial planning: Mortgage Choice

LINDA HAUSKEN  |  FRIDAY, 24 AUG 2012
Mortgage Choice is set to expand into financial planning by opening up 60 franchises by 2015 to sit along side its 380 countrywide home loan businesses.

Deferred tax impacts IOOF profit

BEN COLLINS  |  FRIDAY, 24 AUG 2012
A deferred tax liability had a material impact on wealth manager IOOF, knocking $63 million of its full-year statutory result.

Future Fund to acquire AIF assets

MARK STORY  |  FRIDAY, 24 AUG 2012
The Future Fund has entered into an agreement to acquire all of the Australian Infrastructure Fund's (AIX) portfolio assets for $2 billion - 10% up on the AIX Directors' published asset valuations at 30 June 2012.

Passing of IMR bill to attract foreign investors: Shorten

BEN COLLINS  |  FRIDAY, 24 AUG 2012
Australia's financial services industry will benefit from a tax law amendment, which removes uncertainty that had been a barrier to overseas investment, said Bill Shorten, minister for financial services and superannuation.

SSgA names wholesale vice president

LINDA HAUSKEN  |  FRIDAY, 24 AUG 2012
State Street Global Advisors (SSgA) has named Amy Johnston as vice president of wholesale sales, to lead its expansion into the Australian wholesale channel.