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Superannuation

Market wrap - midday

AAP  |  THURSDAY, 31 AUG 2006
The Australian share market was higher at noon due to higher energy and resources stocks and strong company results out today. At 1200 AEST the benchmark S&P/ASX200 rose 26.9 points to 5094.2, while the all ordinaries gained 26.6 points to 5058.8.

Finding more value in asset consulting: Watson Wyatt

Asset consultant Watson Wyatt is revamping its business model to adapt to the increasingly changing nature of asset consulting.

Financial mentor to be wound up

HAMISH MADDEN  |  THURSDAY, 31 AUG 2006
A Brisbane financial mentoring operation will be wound up after The Australian Securities and Investments Commission (ASIC) obtained court orders to proceed with liquidation.

Asteron launches income product for 80s and over

KATE HAGE  |  THURSDAY, 31 AUG 2006
Promina Group's financial services business Asteron yesterday launched an income stream product aimed at those 80 and over, designed to kick in when retirement savings start to dwindle.

B&B makes power play for utilities assets

KATE HAGE  |  THURSDAY, 31 AUG 2006
Babcock & Brown (B&B) has continued on the power utilities acquisition trail and completed the buy out of NRG Energy's South Australian based power assets NRG Flinders.

AXA makes billing easier for advisers

HAMISH MADDEN  |  THURSDAY, 31 AUG 2006
AXA's Fee4Advice electronic billing service has been branded a success by the organisation after a survey of advisers revealed widespread satisfaction with the improved tools.

AMP FP patches up the cracks

HAMISH MADDEN  |  WEDNESDAY, 30 AUG 2006
AMP Financial Planning (AMP FP) has been in the headlines for all the wrong reasons of late, but behind the hype they have been toiling in earnest to make their business regulator-safe while remaining adamant that the quality of AMP planner advice is ...

Jailed super fraudsters forfeit nearly $6m

HAMISH MADDEN  |  WEDNESDAY, 30 AUG 2006
A father and son, currently serving 18 months in jail for promising clients a 'superannuation cashback' arrangement as part of an illegal scheme, have been ordered to forfeit millions of dollars in holdings and assets.

Zenith names top global managers

BT Financial, Platinum, Morgan Stanley and PM Capital have been named top of their league as part of the annual International Shares Sector Review by research firm Zenith Investment Partners.

Macq Wrap clocks up $20bn

HAMISH MADDEN  |  WEDNESDAY, 30 AUG 2006
Macquarie has announced that its Macquarie Wrap has swollen to $20 billion in funds under administration on the back of $2 billion in growth over the past six months.