Financial Standard

Capstone joins forces with PictureWealth to form $22bn FUA planning network

MICHELLE BALTAZAR   PictureWealth Group has inked a landmark deal with national advice licensee Capstone Financial Planning, forming a combined business with 360 financial advisers and $22 billion in funds under advice.

Nominations open for the 2026 Power50

STAFF WRITER   Nominations for the 2026 Financial Standard Power50 are now open as we recognise the country's most influential advisers who continue to raise the standards for the profession and provide outstanding service to clients and the wider community.

Mercer reviews small caps, Aussie equities mandates

KARREN VERGARA   Mercer Investments Australia has overhauled the fund manager line-up across its Australian equities and small-caps funds following an investment review, retaining some incumbents and awarding fresh mandates at the same time.

Super sector to accelerate critical mineral investments

RIDDHIMA TALWANI   ASFA has signed a statement on behalf of Australia's super sector to accelerate investments in critical minerals projects in G7 countries.

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.

RBA on hold, rate cuts expected

ELIZA BAVIN   The Reserve Bank of Australia kept interest rates on hold at its June meeting with economists suggesting the next move could be a rate cut.

Productivity growth is 'going from bad to worse': PC

ELIZA BAVIN   Labour productivity fell by 0.6% in the March quarter and over the year to March has grown by only 0.3%.

Perfect regulatory certainty in digital economy not 'realistic': ASIC

MATTHEW WAI   The market regulator said it remains complex to determine and provide regulatory certainty around the digital economy despite the continued growth and development across the sector.

ASIC moves to strengthen defences against financial scams

VINNY VUCAGO   The Australian Securities and Investment Commission (ASIC) has launched a new initiative aimed at helping consumers identify legitimate financial services websites and reducing the growing threat of imposter scams across the sector.

U Ethical appoints distribution lead

VINNY VUCAGO   U Ethical Investors has appointed veteran funds management executive Stuart James as head of distribution, as the firm continues to build out its leadership team and pursue its next phase of growth.

Aware Super reshapes governance team, appoints chief risk officer

VINNY VUCAGO   Aware Super has announced a leadership reshuffle, appointing a new chief risk officer amid the departure of its long-serving group executive of legal.

HESTA launches campaign around super tax benefits

MATTHEW WAI   The super fund is launching 'Super Saturday' to help those that are missing out on the advantage from super tax benefits ahead of the end of the financial year.

APRA opens consultation to governance reforms

KARREN VERGARA   The prudential regulator is lifting the governance bar for superannuation funds and insurers with proposed changes to CPS 510, launching a consultation as part of its endeavours to stamp out 'poor practices'.

Otivo launches AI-powered financial advice

MATTHEW WAI   Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Royal London AM extends SS&C mandate for new Aussie funds

RIDDHIMA TALWANI   Royal London Asset Management (RLAM) will extend its mandate with SS&C Technologies to provide its fund administration and unit registry services for its new range of Australian active funds.

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.