POWERED BY MOMENTUM MEDIA
NEWS AND RESEARCH
A former South Australian financial adviser, who also authored two personal finance books, has been banned by ASIC for a period of seven years.
ASIC has released the results for the November sitting of the financial adviser exam, with the pass mark sitting substantially higher than in August.
Money Management’s sister title ifa has announced 36 winners for the 11th annual ifa Excellence Awards 2024 at a ceremony in Sydney.
Overall financial adviser numbers have fallen this week, although Centrepoint Alliance has seen this week’s largest gains, according to Wealth Data.
Inappropriate advice relating to SMSFs has been identified as a pain point for the advice industry, with professionals claiming these vehicles can…
Financial investment advisers have been singled out as a core skill in demand in Australia with the government aiming to attract more skilled…
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X Ultra Short Nasdaq 100 Hedge
96.66 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
4
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.63 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
INVESTMENT INSIGHTS
EQUITIES
OC Funds Management and PAN-Tribal Asset Management have both launched equity funds, investing in Australian mid-caps and global equities, respectively....
Funds under management at Magellan Financial Group were unchanged in October as the firm launched its first two funds with Vinva Investment Management....
Magellan has appointed a deputy portfolio manager to work on its $705 million Airlie Australian Share Fund. ...
Equity funds saw $2.2 billion in outflows during the first half of 2024, according to Calastone, despite reporting modest gains in the second quarter. ...
Perpetual has appointed a new chief executive to replace Rob Adams, with the new appointment holding a background in leading change programs as the firm moves to complete...
FIXED INCOME
The investment giant has announced a $18 billion deal to acquire a leading US-based private credit manager, marking its third major alternatives deal this year....
Yarra Capital Management has received a top rating for its Enhanced Income Fund from research house Lonsec....
Abrdn’s head of global fixed income sees a favourable environment ahead for bond investors, though he cautions a more selective investment approach might be necessary to ...
Advisers and investors are starting to recognise that private credit encompasses a range of strategies beyond corporate lending as they look to leverage its strong return...
Nuveen has announced the launch of a new private credit fund for Australian wholesale investors in response to “strong interest” from family offices and HNWIs for private...
MANAGED ACCOUNTS
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advic...
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their ...
Advisers will now be able to tap into global markets on the platform through international signature managed accounts from global managers like T. Rowe Price and Lazard. ...
Almost half of financial advice firms are still holding back from using managed accounts in their practice, Netwealth uncovers, despite the efficiency benefits they can o...
Lonsec’s deputy CIO Deanne Baker has highlighted what investment tools the firm is harnessing to mitigate the impact of geopolitical risks in its managed account offering...
FINANCIAL PLANNING
A former South Australian financial adviser, who also authored two personal finance books, has been banned by ASIC for a period of seven years....
ASIC has released the results for the November sitting of the financial adviser exam, with the pass mark sitting substantially higher than in August....
Money Management’s sister title ifa has announced 36 winners for the 11th annual ifa Excellence Awards 2024 at a ceremony in Sydney....
Overall financial adviser numbers have fallen this week, although Centrepoint Alliance has seen this week’s largest gains, according to Wealth Data....
Inappropriate advice relating to SMSFs has been identified as a pain point for the advice industry, with professionals claiming these vehicles can draw out “the worst of ...
PEOPLE & PRODUCTS
First Sentier Investors has announced two key promotions in its leadership team, with a new global head of distribution and marketing and the newly created role of chief ...
Infinity Capital Solutions, part of Viridian Financial Group, has welcomed a second former abrdn executive to the newly created role of national distribution manager. ...
Online financial advice platform Otivo has made an internal promotion to chief advice officer to ensure the firm’s advisers are providing suitable and compliant advice....
The former chief product officer at Iress, Aaron Knowles, has joined software firm Bravura Solutions as it seeks to “scale new heights” in global growth. ...
Former First Sentier Investors multi-asset portfolio manager Andrew Harman has announced a new role, joining Macquarie Group as head of investment strategy and asset allo...
FUNDS MANAGEMENT
Magellan has seen its funds under management surpass $39 billion to the highest volume since August 2023, helped by three fund launches in association with Vinva Investme...
The investment giant has announced a $18 billion deal to acquire a leading US-based private credit manager, marking its third major alternatives deal this year....
Brad Potter, who has helmed Australian equities at Tyndall Asset Management for the last decade, has announced his retirement from the business. ...
Yarra Capital Management has received a top rating for its Enhanced Income Fund from research house Lonsec....
Abrdn’s head of global fixed income sees a favourable environment ahead for bond investors, though he cautions a more selective investment approach might be necessary to ...
SUPERANNUATION
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with thei...
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties....
As part of its executive leadership refresh, Insignia has appointed Dave Woodall as its chief executive for superannuation....
Analysis by Chant West of the annual performance of growth superannuation funds has uncovered which ones see the best performance....
Nominations and submissions have opened for this year’s Super Fund of the Year Awards for two individual categories....
LIFE/RISK
Policy and advocacy specialist Benjamin Marshan has left the Council of Australian Life Insurers after less than a year, having joined in March from the Financial Plannin...
The declining volume of risk advisers meant KPMG has found a rising lapse rate for insurance policies arranged by independent financial advisers, particularly in the TPD ...
The Life Insurance Code of Practice has transferred from the Financial Services Council to the Council of Australian Life Insurers....
The firm has announced it will no longer be writing new life insurance policies in the retail advised and corporate group insurance channels, citing a declining market an...
ASIC has issued its first interim stop order on two life insurance products from ClearView Life for DDO failures....
ACCOUNTING
Australian Ethical has reported its net profit after tax (NPAT) fell 15% to $9.6 million for the year ended 30 June, while its underlying profit after tax (UPAT) declined...
Insignia Financial has announced a 59% increase in its underlying net profit after tax (UNPAT) to $234.5 million in FY22....
Having completed their educational qualifications, those advisers who remain in the industry are reporting being “run off their feet” with new clients....
With October being Mental Health Month, it’s a good opportunity for people in the profession to look out for each other’s mental health....
The Administrative Appeals Tribunal has rejected an application by a former tax agent to stay a Tax Practitioners Board decision to terminate his registration with the ma...
POLICY & REGULATION
Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best ...
The Federal Court has found a company director guilty of operating unregistered managed investment schemes and carrying on a financial services business without holding a...
The Governance Institute has said ASIC’s governance arrangements are no longer “fit for purpose” in a time when financial markets are quickly innovating and cyber crime b...
Compliance professionals working in financial services are facing burnout risk as higher workloads, coupled with the ever-changing regulation, place notable strain on sta...
Treasurer Jim Chalmers has handed down his third budget, outlining the government’s macroeconomic forecasts and changes to superannuation....
Never miss the latest news and developments in wealth management industry
MARKET INSIGHTS
Podcast
This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...
Interesting. Would be good to know the details of the StrategyOne deal....
It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...