August 2018
TAL presses government to reconsider life insurance in superannuation changes
Pressure is building on the the federal government to reconsider its controversial plans to overhaul group life insurance inside superannuation to ensure that members who are working continue to get automatic cover even if their balance is low.
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Nib Holdings taps into travel 'mega-trend', acquires QBE’s travel arm for $25 million
Health insurer nib has bought QBE's travel insurance business for $25 million, predicting this consumer line to be a major part of its earnings into the future.
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Fund heavyweight eyes growth as retiree numbers boom
The local head of $1.2 trillion Aberdeen Standard Investments is trying to convince his global bosses to take a punt on Australia's still-in-transition $780 billion post-retirement sector.
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Robo-adviser goes for cashed-up Boomers over Millennials
SuperEd's Paul Rogan said there was "a mass of Australians" who don't trust advisers and retirees with limited wealth protection options.
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July 2018
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New quality of financial advice rating system to probe licensee governance
A proposal for a rating system to rank financial advice firms, in addition to planners, has got funding from the state and federal governments.
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'Walk rather than a run to cashlessness' in Australia, says payments boss
Large-scale technology shifts like the rise of tap-and-go are hastening the retreat of cash as a transaction mechanism in Australia, payments executives have said.
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AMP acting CEO Mike Wilkins says refund bill is a 'moveable feast'
AMP acting CEO Mike Wilkins expects to recoup a "material" amount from insurance but admits the total compensation claim is a "moveable feast".
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AMP provides $290m for compensation, downgrades half-year profit
AMP has set aside $290 million to compensate customers who suffered because of poor financial advice, in a "reset" to try and "earn back trust".
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National Australia Bank to refund customers $67 million for advice fees
Superannuation customers were charged annual fees since 2012 for financial advice services they did not know they could opt out of.
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Superannuation comparison site a tough ask says State Street global advisors
A plan for an goverment-run online superannuation comparator site needs better data to be useful.
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Platform price war brewing after BT's surprise fee cut
Big wealth managers and their upstart rivals have been tipped to follow Westpac's lead and cut fees for their investment platforms.
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ASIC releases independent report on super fund fee disclosures
The regulator has been urged to develop a database so the public has some chance of comparing super funds.
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BT Financial Group streamlines super, investment fees
Westpac is playing a long game with its wealth management arm, aggressively pursuing customers with new, streamlined offerings.
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AMP terminated former 'puppet' planner over compliance concerns
A former AMP financial planner responsible for airing damning allegations about high-pressure sales tactics resigned from the wealth manager under a cloud, AMP says.
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IAG launches Climate Change Action Plan
Key executives at IAG will now be expected to integrate climate change risk mitigation initiatives into their respective divisions, but the board is yet to link performance on these factors to remuneration.
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Bankwest shuts 29 branches, cuts 200 jobs as customers go online
Bankwest's surprise decision to close 29 branches along the east coast, cutting 200 jobs in the process, is sign that the demise of face-to-face banking, long in decline in the country, is reaching the city.
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Australian social impact investment market hits $6 billion
Hunger for green bonds has pushed the market for investments that achieve social or environmental goals to rise fourfold in under three years.
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IFM Investors funds under management up 15pc to $107 billion
IFM Investors' Brett Himbury says invesgting in unlised assets can provide a "higher degree of confidence" for super funds.
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Why AMP is down but not out after class actions and royal commission revelations
The nation's oldest wealth manager AMP is fighting battles on all fronts, but some analysts have not given up on its fortunes.
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Netwealth sees 'once in a lifetime shift' in wealth management
The joint managing director of ASX-listed investment platform Netweath says there is a "once in a lifetime shift" occurring in the wealth management industry.
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