Financial Standard

The 'blind spot' costing advisers nearly $10bn: Research

MATTHEW WAI  |    12:34PM   Research from Elemnta indicates financial advisers do not realise they are expending nearly twice as much effort on non-advised operations, highlighting a perception gap and challenges related to data collection and access, which cost 6000 practices about $9.36 billion in "destroyed enterprise value".

Inheritors struggle to act on financial advice: Survey

VINNY VUCAGO  |    12:22PM   Australia's wealthy inheritors are making major financial decisions before they feel ready, with new research highlighting a gap between receiving professional advice and having the confidence to act on it.

Canadian pension giant takes 20% stake in La Trobe

RIDDHIMA TALWANI  |    12:20PM   Canadian public pension fund OMERS has taken a minority stake of nearly 20% in La Trobe Financial from Brookfield.

MLC AM targets EM strategy with fresh mandate

MATTHEW WAI   MLC Asset Management has selected a global investment manager to leverage its 16-year-old emerging markets strategy.

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.

Treasury floats changes to banking, estate payment limits

KARREN VERGARA  |    10:51AM   Treasury is introducing several banking reforms as part of its deregulation agenda, including doubling the limit on payments permitted from deceased consumers' estates without probate or letters of administration.

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

KARREN VERGARA   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.

ASIC consults on guidance for Scams Prevention Framework

MATTHEW WAI  |    12:37PM   ASIC has commenced a consultation on proposed updated guidance to simplify and streamline the Scams Prevention Framework coming into effect early next year.

ASIC issues another stop order for private credit fund

RIDDHIMA TALWANI  |    12:15PM   ASIC has issued an interim stop order on the Murdoch Clarke Mortgage Fund, issued by Murdoch Clarke Mortgage Management, prohibiting it from offering, issuing, selling or transferring interests in the fund.

Orbis appoints Heathcote as NZ distribution partner

VINNY VUCAGO  |    12:03PM   Orbis Investment Management has appointed Heathcote Investment Partners to distribute its global equities strategy in New Zealand, expanding access to its actively managed investment offering among local financial advisers and wholesale investors.

Evidentia restructures despite booming assets

KARREN VERGARA  |    11:43AM   A major organisational restructure at Evidentia Group has reduced headcount that claimed several senior roles despite the business reporting strong funds under management growth.

AustralianSuper rolls out new investment data platform

VINNY VUCAGO   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   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   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.