Financial Standard

WT Financial takes majority stake in TNT Advisor

RIDDHIMA TALWANI  |    11:56AM   WT Financial has acquired a 70% stake in paraplanning provider, TNT Advisor Solutions (TNT), for $2.4 million.

FEATURE | Managed accounts | Industrialising advice

RIDDHIMA TALWANI   The growth in the managed accounts sector has brought scale and efficiency to advice. Rapid adoption is now reshaping the industry and drawing the regulator's attention.

Pengana takes WAM feud over PIA to Takeovers Panel

KARREN VERGARA  |    12:19PM   Pengana Capital Group is again attempting to thwart the Wilson Asset Management-led board's share buyback and increased ownership in the Pengana International Equities LIC (PIA), hoping the Takeovers Panel will intervene.

Federated Hermes partners with Conduit Digital

VINNY VUCAGO  |    11:58AM   Federated Hermes has entered a strategic alliance with Singapore based Conduit Digital Holdings to launch a regulated tokenised money market fund distribution structure across the Asia Pacific (APAC) region, including Australia.

AIA Australia rolls out TPD CORE

KARREN VERGARA  |    12:00PM   AIA Australia has launched TPD CORE, a new retail product that charges lower premiums and provides clearer claim assessment criteria for total and permanent disability (TPD).

Insurer sanctioned for over 10k breaches

MATTHEW WAI  |    11:47AM   The Life Insurance Code Compliance Committee has sanctioned a life insurer after it reported more than 10,000 breaches of the Life Insurance Code of Practice in relation to failure to provide timely, completed annual notices.

Half of Australians lack retirement plan: Vanguard

KARREN VERGARA   Nearly half of working-age Australians approaching retirement do not have a retirement plan, raising concerns about long-term financial preparedness and confidence, according to Vanguard.

New platform provides guidance for retirees

MATTHEW WAI   A new artificial intelligence (AI) platform has launched to fill a gap that is persisting for retiring members seeking purpose in the retirement phase.

CEDA warns migration cuts will have economic spillover

RIDDHIMA TALWANI  |    11:52AM   The Committee for Economic Development of Australia (CEDA) has warned while a dramatic cut in headline migration figures might be seductive, changes at scale will have a spillover in the economy including the labour market.

Albanese pushes Trump on tariff exemption

RIDDHIMA TALWANI   Prime Minister Anthony Albanese asked US President Donald Trump to consider a full exemption on tariffs for Australia, or at the very least no increase from the current 12.5% subject on Australian exports to the US.

AFCA consults on rule changes under upcoming scam framework

MATTHEW WAI   The Australian Financial Complaints Authority (AFCA) is seeking feedback on proposed changes to consider scam-related complaints under the Scam Prevention Framework (SPF) that will come into effect early next year.

Macquarie board rejects KPMG as auditor

RIDDHIMA TALWANI   Macquarie's board has rejected KPMG as its auditor starting 2027 and will instead proceed with incumbent auditor PricewaterhouseCoopers (PwC).

Shaw and Partners refurbishes asset management unit, expands team

KARREN VERGARA  |    12:07PM   Shaw and Partners Financial Services' new-look asset management business has jumped in headcount with the addition of an investment director and two analysts while also expanding its investment menu as it ambitiously aims to exceed the $50 billion of assets it currently manages.

ASFA welcomes Rest executive to C-suite role

MATTHEW WAI  |    12:05PM   ASFA has named a new C-suite appointment, set to join on September 21 from Rest to strengthen its policy implementation initiative.

Superannuation assets inch to nearly $4.8tn

KARREN VERGARA   Total superannuation assets hit nearly $4.8 trillion in the last financial year, marking a 9% rise, namely driven by the rise of industry funds.

Equity Trustees super exit sparks Hejaz Islamic Super and Pension closure

KARREN VERGARA   Hejaz's Islamic Super and Pension products will be terminated as a fallout from Equity Trustees ditching the superannuation trustee business. The latter, however, says otherwise.

Actuaries Institute launches AI risk management guide

RIDDHIMA TALWANI   Actuaries Institute and UTS Human Technology Institute (HTI) have partnered to launch a practical risk management guide to help financial services firms manage artificial intelligence (AI) risks.

Iress sharpens tech integration to reduce adviser admin burden

RIDDHIMA TALWANI   Iress is building a structured pathway for technology providers to connect with Xplan, its financial planning and wealth management software, helping ease administrative burden on advisers.

Family businesses turn to external chief executives: Deloitte

RIDDHIMA TALWANI   While family members will largely remain at the helm of family businesses post-succession, a Deloitte Private report anticipates a meaningful shift globally, with more businesses preferring outside professionals to step into the chief executive roles.

MST Financial broadens services to Alder & Partners

KARREN VERGARA   MST Financial has broadened its services for Alder & Partners Private Wealth Management, providing "institutional-grade investments" across managed accounts, asset allocation and research.