Financial Standard

NCAs unlikely to solve retirement advice gap: HUB24, CFS

RIDDHIMA TALWANI  |    12:00PM   HUB24 and Colonial First State (CFS) say the New Class of Advisers (NCA) will unlikely solve the retirement advice gap Australians face, noting the focus needs to be on helping reduce friction for those with complex advice needs.

Advised cover faces claims data test

VINNY VUCAGO   Group superannuation insurance appears to outperform individual advised cover on some claim's measures, raising questions about the value of advice when it comes to protecting clients against disability.

Challenger rejects $7.8bn takeover offer

VINNY VUCAGO  |    11:55AM   Challenger's board has rejected a proposed $7.8 billion takeover by TAL Daiichi Life Australia, saying the $11.80 per share offer falls short of a level it could recommend to shareholders.

GDG sales hit record as FUM grows 29%

VINNY VUCAGO   Generation Development Group (GDG) reported stronger funds under management (FUM) across its wealth business in the September quarter, led by record investment-bond sales at Generation Life despite more cautious investor and adviser activity.

TPD claims drive insurance disputes

VINNY VUCAGO   Australia's life insurers continue to accept most claims, but total and permanent disability (TPD) and disability income insurance claims remain the main sources of disputes and delays, according to the latest data from APRA and ASIC.

Genetic testing ban takes effect for life insurance

VINNY VUCAGO   Australians can access genetic testing without risking discrimination in life insurance under a new ban that took effect on October 8, with the Australian Financial Complaints Authority (AFCA) also updating its rules to handle complaints involving adverse genetic test results.

Guaranteed income gives retirees 'licence to spend': JPMAM

RIDDHIMA TALWANI   Retirees with a higher share of guaranteed income spend 44% more, according to J.P. Morgan Asset Management (JPMAM) portfolio manager and head of target date strategies Daniel Oldroyd.

Rent stress threatens retirement security

VINNY VUCAGO   Declining home ownership is deepening Australia's housing divide, with lower-income households facing growing rental stress and potentially entering retirement with significantly less wealth, according to the Actuaries Institute.

Labor bets on private capital, approves $278bn in foreign capital

KARREN VERGARA  |    10:49AM   Labor has approved $87 billion in additional foreign investments, bringing the total for the year to $278 billion as it bets on more private capital to buoy the economy.

Affordable housing eligibility routinely overlooked: CEDA

KARREN VERGARA   New research shows Australia is not targeting its affordable housing stock correctly, leaving about 19,000 families on social housing waitlists that truly need and are entitled to it.

ASIC ups thresholds for NTA requirements

KARREN VERGARA   ASIC has introduced new rules that will require managed investment schemes (MISs) to increase minimum financial thresholds in their net tangible assets (NTAs).

ASIC investigates potential $138m scam

ELIZA BAVIN   ASIC has confirmed it is actively investigating potential failures linked to MGF Capital, and its sole director - a former Goldman Sachs trader - over concerns at least $138 million of Australian investor funds have been lost.

AIA names regional chief executive for key markets

MATTHEW WAI  |    11:17AM   AIA Group has appointed a regional chief executive, hiring a former insurance boss from HSBC to oversee its business across several jurisdictions, including Australia.

Merricks Capital operating chief joins PC firm

MATTHEW WAI   Former Merricks Capital chief operating officer has joined a specialised private credit firm after overseeing Merricks Capital's financial and operational businesses for the past six years.

AustralianSuper rolls out new investment data platform

VINNY VUCAGO  |    11:45AM   AustralianSuper has implemented a new investment data platform designed to improve portfolio oversight, risk management and decision-making as the superannuation fund expands its global operations.

The risks keeping APRA's new deputy chair up at night

RIDDHIMA TALWANI   The Australian Prudential Regulation Authority's (APRA) new deputy chair David Bradbury said the risks that keep him awake at night are those with the potential to threaten the financial stability of the super system or cause catastrophic losses for members.

Digital assets on the right path: Industry

MATTHEW WAI  |    12:07PM   Digital asset providers have evaluated the October deadline and ASIC's consultation on the looming digital asset laws and determined that these developments mark a pivotal point on the sector's implementation journey.

ASX needs to push boundaries to compete: AGM

MATTHEW WAI  |    10:29AM   ASX chief executive Anthony Attia told his first annual general meeting (AGM) that the bourse will need to respond to global competition by moving beyond traditional boundaries.

Australia's family offices surpass $323bn in assets

RIDDHIMA TALWANI   Family offices in Australia have surpassed $323 billion in assets, according to data from Rainmaker Information.

Mining, property fuel Aussie billionaires' wealth

KARREN VERGARA   Australian billionaires' riches are highly concentrated in mining, financial services, technology and property, accounting for 0.7% of the total US$15.1 trillion in global wealth studied by the 2026 Billionaire Census.