Sequoia restructures reporting lines, announces staff reduction
Sequoia will streamline its divisional structure from four to two reporting divisions, as well as reduce headcount by 10 per cent.
July 03, 2024
iExtend gains AFSL
Life insurance policy extender iExtend has gained its AFSL after ASIC accepted a court enforceable undertaking from the business to apply for a license earlier this year.
July 03, 2024
Consumer group calls for better scam protection from super funds
Super Consumers Australia warned that more work needs to be done from funds to mitigate risks of super scams, as the advocate group’s recent survey found 81 per cent of Australians want their funds to provide more active protection.
July 03, 2024
Australian Ethical appoints Fiona Reynolds to super board
Australian Ethical has appointed Fiona Reynolds, former CEO of UN-backed Principles for Responsible Investment, to its super board.
July 03, 2024
Go long Taylor Swift: The race for advisers to stay relevant
As the established ways of serving clients are challenged by technology and changing demand, how the industry is structured and how it works must shift fundamentally. The biggest risk the wealth management sector faces – including advice – is not necessarily losing AUM but losing relevance. ETFs based on streaming Taylor Swift songs are only the beginning.
July 02, 2024
‘No evidence’ of further unauthorised access in Iress breach
Iress has concluded its internal investigation into the unauthorised access of Iress’ user space on GitHub as first announced on 13 May 2024.
July 02, 2024
HESTA MySuper delivers 9.1pc return in FY24
The $83 billion HESTA has returned 9.1 per cent for its MySuper Balanced Growth option in the 2024 financial year, surpassing the 7.62 per cent annual return in the past decade.
July 02, 2024
REST MySuper returns 8.67pc in FY24
Retail workers industry fund REST has posted an 8.67 per cent return for its default MySuper product in the 2024 financial year. The product has had a 6.97 per cent return per annum in the past decade.
July 02, 2024
MetLife Foundation offers $115k grant to First Nations Foundation
First Nations Foundation has received $155,000 (US$100,000) from MetLife Foundation to continue strengthening the financial knowledge of First Nations women.
July 02, 2024
Industry funds need to get behind practices using qualified advisers
The head of AMP’s advice arm, Matt Lawler, has called for industry funds to back advice practices using “qualified advisers” to help maintain a united front to government. He told the Professional Planner Licensee Summit any policy position that lacks consensus will be overlooked by the government.
July 01, 2024
DASH gets $20m ‘gamechanger’ cash injection
A $20 million capital injection from Bailador Technology Investments will not only help DASH compete with newer platforms HUB24 and Netwealth, but also with the institutional players that still dominate industry FUM.
July 01, 2024
