‘Higher the fee, lower the return’ narrative hurting members
With RG97 and the Your Future Your Super performance test pushing a strong narrative of bringing down fees at all costs, superannuation members may actually be missing out on attractive net returns from more expensive-to-manage asset classes. The Fiduciary Investors Symposium has heard that it’s time for the super sector to bust the myth.
May 28, 2024
Former Westpac adviser launches HNW practice
Advice practice Freshwater Wealth has launched with an offering for high-net-worth individuals, including retiring baby-boomers and single and widowed women.
May 28, 2024
Mercer Super hit with additional licence conditions
APRA has ordered Mercer Super to meet additional licence conditions after “risk management and compliance management deficiencies” were identified by the regulator.
May 28, 2024
Perpetual’s demise should loom large for licensees
Infocus’ proposed takeover of Madison is just the latest in a frenzied M&A cycle for advice licensees. With a diminishing pool of advisers, licensees have little choice but to pursue inorganic growth, but they must avoid the lesson learned the hard way by asset managers that scale alone cannot override a problematic business model, writes Aleks Vickovich.
May 27, 2024
Infocus courts Madison after Godfrey Pembroke deal fizzles out
Clime Investment Management will make another attempt to offload licensee business Madison, this time to Infocus for $2 million which includes platform WealthPortal. The takeover bid comes amid fresh revelations over why the much-hyped Godfrey Pembroke-Madison tie-up fell over.
May 27, 2024
The opportunity cost of the control illusion
Giving up control can lead to even greater control, Paul Barrett writes, but taking that first step can be confronting to business owners who may not see the long-term benefit and it can lead to strong M&A opportunities stalling.
May 24, 2024
Family offices show little appetite for outsourcing investment
Family offices globally will continue to position their core offering as investment managers, maintaining small staff headcounts and outsourcing non-core responsibilities, according to a report from UBS.
May 24, 2024
Create a tech stack, not a tech pile
It’s tempting to take on more technology that sounds appealing or can potentially solve a problem in isolation, but if it doesn’t effectively integrate into a practice’s tech stack it can quickly turn into a mess, further hampering business efficiency while adding costs.
May 23, 2024
CFA Institute launches private equity certificate
The CFA Institute has launched a new Private Equity Certificate, tailored to private equity professionals with one to three years of experience.
May 23, 2024
Aware Super wins top categories at Chant West Awards
Aware Super has taken home ‘super fund of the year’ and ‘pension fund of the year’ titles at the Chant West Awards 2024.
May 23, 2024
ASIC issues DDO stop orders against CFD provider Trademax
ASIC has made two interim stop orders preventing Trademax Australia from opening trading accounts or dealing in contracts for difference (CFDs) or margin foreign exchange contracts (margin FX) to retail investors.
May 23, 2024
