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Superannuation

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.

Intelligently designed eLearning programs boost sales

ALEX DUNNIN  |  TUESDAY, 29 AUG 2006
ELearning was once considered just a cost-cutting tool driven by human resources departments wanting to lower training costs, but if it is intelligently redesigned it can become a method of finding and retaining customers and boost customer loyalty.

Fees versus commission not an issue

The fees versus commissions debate is much ado about nothing according to an online survey which found that the majority of financial planners say it's the disclosure that counts.

AXA hits $10bn on platform but continues to build

HAMISH MADDEN  |  TUESDAY, 29 AUG 2006
AXA's Summit platform has ridden a tide of strong sales and continued support from advisers past its milestone of $10 billion in funds under administration (FUA).

SEC hits fraudulent insurer with $790m penalty

The Securities and Exchange Commission (SEC), the US equivalent to Australia's financial services regulator the Australian Securities and Investments Commission (ASIC), has ordered life insurer Prudential Equity Group (PEG) to pay $790 million (US$600 ...

Daily economic round-up

PETER BELL  |  TUESDAY, 29 AUG 2006
Federal Treasurer Peter Costello has warned the states that their expansionary infrastructure spending policies planned for the next few years would most likely have an unfavourable outcome on interest rate movements.

DeAM chases alpha in fixed income

KATE HAGE  |  TUESDAY, 29 AUG 2006
The alpha trend has stepped neatly over to the fixed income space, with Deutsche Asset Management (DeAM) being the latest fund manager to announce the roll-out of a new high yield fixed income fund.