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.

HMC, KKR tie up receives ACCC approval

KARREN VERGARA   The partnership between HMC Capital and KKR, in which the latter will commit $603 million, has been given the good to go by the Australian Competition and Consumer Commission (ACCC).

Corruption, governance risks: The cost of doing business in emerging markets?

KARREN VERGARA   Beyond a governance issue, corruption is a major deterrence to capital flows, undermines long-term development and carries crippling social costs. Seasoned investors, though, are quick to challenge the notion that corruption and governance risks are not bound by geography.

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 sues three Keystone Asset Management directors

KARREN VERGARA   ASIC is suing former Keystone Asset Management directors Paul Chiodo, Ilya Frolov and Mark Yorston for allegedly failing their duties to safeguard superannuation members from the collapse of the Shield Master Fund.

CGT, negative gearing changes to become a law

RIDDHIMA TALWANI   The government's tax agenda announced in the Budget overhauling the capital gains tax (CGT) discount and negative gearing have now passed the Parliament and will become law.

REI Super chief executive steps down

ELIZA BAVIN   REI Super is farewelling its chief executive Jarrod Coysh, after more than seven years in the role.

BUSSQ beefs up cyber security oversight

MATTHEW WAI   The Queensland industry fund has welcomed a cyber security expert to its board of trustees, bolstering its oversight on heightened cyber security risk.

FSC links active super choices to stronger retirement outcomes

VINNY VUCAGO   Australians who actively engage with their superannuation and seek financial advice could significantly improve their retirement outcomes, according to new research commissioned by the Financial Services Council (FSC).

Operational changes anticipated for Payday Super: Rest

VINNY VUCAGO   Two-thirds of Australian businesses expect Payday Super will require moderate to significant operational changes, despite widespread confidence in their ability to comply with the reforms due to take effect from 1 July 2026.

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.

Otivo launches AI-powered financial advice

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

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.