Financial Standard

Advisers expect growth despite uphill challenges

MATTHEW WAI   Despite the current headwinds involving market uncertainties, rapid digitisation and the ageing population, financial advisers remain optimistic about what they can achieve over the next few years, a new report finds. However, the growth will not be captured easily.

Diversa drags Praemium into First Guardian lawsuit

KARREN VERGARA   Praemium and its subsidiaries are now caught up in the ASIC-led First Guardian legal saga, having been thrown in the mix by Diversa Trustees.

Atlas Arteria chair resigns as IFM offer deadline inches closer

RIDDHIMA TALWANI   Atlas Arteria independent non-executive chair Debbie Goodin will resign from her position, effective July 7.

Euroz Hartleys sells capital markets arm to Canada's BMO

RIDDHIMA TALWANI   Euroz Hartleys has sold its capital markets business to Canada's BMO Financial Group (BMO) for $145 million in an all-cash deal.

Treasury releases adverse genetic test results ban draft regulation

KARREN VERGARA   Treasury is seeking feedback on draft regulations that ban the use of adverse genetic test results in life insurance, which come into effect on October 8.

AFCA to update rules on new genetic testing laws

KARREN VERGARA   The Australian Financial Complaints Authority (AFCA) is proposing to amend its rules in preparation for recent legislative changes on genetic testing protections in life insurance.

Lack of awareness impacts retirement satisfaction: TAL

MATTHEW WAI   New research indicates that although around 90% of retirees selecting pension accounts or lifetime income streams were satisfied with their decision, less than two in five (38%) pre-retirees understood how those products work.

Investment performance will not help smaller balances: Research

MATTHEW WAI   Recent research from Monash University demonstrated retirees will require a balance above $400,000 to achieve sustainable retirement without investment-related constraints.

Inflation cools, RBA facing 'uncomfortable trade-off'

ELIZA BAVIN   While inflation has cooled, it remains stubbornly above the Reserve Bank's target range, putting the central bank in a tricky position, experts say.

Vale Alan Greenspan

ELIZA BAVIN   The American economist and former chair of the Federal Reserve passed away at 100 years old.

ASIC pushes to bolster competitiveness

ELIZA BAVIN   The regulator has hosted a roundtable with financial services leaders to encourage competitiveness, as it fears Australia is falling behind its global peers.

Super the backbone of stressed financial ecosystem: APRA

MATTHEW WAI   APRA has unveiled key findings from its inaugural system risk stress test, highlighting the resilience and stability of the financial market depends heavily on the superannuation sector.

Natixis names chief executive for Mirova

MATTHEW WAI   Natixis Investment Managers has promoted an executive from another affiliate to succeed the outgoing chief executive of Mirova, Philippe Zaouati, effective July 1.

NZ Super names private equity lead

VINNY VUCAGO   The Guardians of New Zealand Superannuation has appointed William Fletcher as head of private equity and alternative investments, bolstering leadership across one of the fund's fastest growing investment portfolios.

Super system to hit $12.4tn by 2045

VINNY VUCAGO   Australia's superannuation system is forecast to triple in size over the next two decades reaching $12.4 trillion by 2045, as sustainable retirement outcomes become the sector's defining challenge.

Future Group to internalise super trustee structure

MATTHEW WAI   Future Group is acquiring WTW's superannuation licensed entity, Stewarda, to establish trustee capabilities in house.

Stablecoins a key to instant access to global credit markets

MATTHEW WAI   As the world enters a digital age, digital assets like stablecoins are not only opening doors for assets like private credit funds that were exclusive to institutional investors, but also a debt universe that is no longer limited to the domestic market, experts told Financial Standard.

Generation Life confirms personal information leaked in cyber incident

MATTHEW WAI   Generation Life has provided an update regarding a cyber incident that took place in April, confirming information of a "limited number" of individuals has been impacted.

Family office succession takes back seat to investments

KARREN VERGARA   While family offices have investment strategies down pat, the state of their succession plans paint another story, which reports suggest could undermine a seamless transfer of a vast amount of wealth.

Lowy family takes stake in Magellan

KARREN VERGARA   The Lowy family has acquired a 5.1% stake in Magellan Financial Group via its trust Oryxium.