Financial Standard

HUB24 hits $100bn milestone

KARREN VERGARA   HUB24, which owns Xplore Wealth, Class, and myprosperity, surpassed the $100 billion milestone at the end of March.

Why aged care advice needs tougher regulation

KARREN VERGARA   The lack of regulation around aged care advice has led to superficial and often conflicted advice, that can put older Australians at risk of elder abuse, according to Aged Care Steps, which is rallying for tougher protections and laws.

Russell Investments introduces new ESG-focused ETF

ANDREW MCKEAN   Russell Investments has launched its first multi-strategy exchange-traded fund (ETF) in Australia, offering investors access to an actively managed portfolio of international shares with a focus on environmental, social and governance (ESG) considerations.

Betashares plans to launch first 'moderately geared' ETFs

ANDREW MCKEAN   Betashares is readying to launch Australia's first moderately geared ETFs on the ASX, as part of its new 'Wealth Builder' product suite.

Life insurers struggle with code compliance

KARREN VERGARA   Life insurers continue to breach their own compliance code with more than 12,000 instances recorded, yet the body overseeing their conduct fears this is likely under-reported.

Suncorp sells NZ life business to Resolution Life

JAMIE WILLIAMSON   Resolution Life has acquired Asteron Life New Zealand for NZ$410 million.

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA   Financial advisers must be mindful of the "legal uncertainty" that exists when applying the appropriate wholesale test on self-managed super funds (SMSF), according to the Australian Financial Complaints Authority (AFCA).

New SMSF solution for Islamic Australians launched

ELIZA BAVIN   The new SMSF solution will allow Australian Muslims to invest in property while avoiding paying interest.

Income inequality elevated, spikes: Oxfam

KARREN VERGARA   Income inequality is too high and continues to balloon in 60% of low- and middle-income countries studied by Oxfam International, tipping the Gini coefficient well above acceptable levels.

Job flexibility, labour market delay retirement age

KARREN VERGARA   Job flexibility and a tight labour market are keeping more Australians at work, research from KPMG finds, giving rise to a delay in their retirement.

Blockchain mining companies sued by ASIC

ANDREW MCKEAN   ASIC has taken legal action against three blockchain mining companies - NGS Crypto, NGS Digital, and NGS Group - along with their sole directors Brett Mendham, Ryan Brown and Mark Ten Caten.

ASIC consults on misconduct reporting rules

ANDREW MCKEAN   ASIC has released a consultation paper seeking feedback on updated regulatory guidelines for external administrators and controllers when reporting and lodging statutory reports about alleged misconduct.

Bell Asset Management announces new chief executive

ELIZA BAVIN   The new chief executive was previously head of superannuation at Vanguard.

ASIC chief executive to depart

ELIZA BAVIN   Warren Day will leave the regulator on June 1.

ESSSuper faces class action threat over unpaid super

ANDREW MCKEAN   Emergency and State Services Super (ESSSuper) is facing a class action from Gordon Legal and the Rail Tram and Bus Union (RTBU) over allegations of more than $40 million in unpaid superannuation.

Qantas Super taps fintech as an investment consultant

ANDREW MCKEAN   Qantas Super has partnered with Ortec Finance, a fintech company headquartered in Rotterdam, as an investment performance consultant.

The Aussie wealthtech firms that are 'most innovative'

ANDREW MCKEAN   The annual list of the world's most innovative wealthtech companies was recently released, with several Australian firms making the cut.

GBST develops private equity platform

ANDREW MCKEAN   Wealth management software business GBST has collaborated with Luna Partners to create a technology platform that connects investors and managers to the wholesale private equity market.

Wholesale investor tests up for parliamentary review

KARREN VERGARA   The federal government wants to shake up the wholesale investor tests further in launching a parliamentary inquiry into the entire framework, worrying many fund managers operating in the high-net-worth space.

ACNC tightens screws on NFPs with complex corporate structures

JAMIE WILLIAMSON   The Australian Charities and Not-for-profits Commission (ACNC) announced it will focus on the misuse of complex corporate structures this year.