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
WA advice practice launches within AMP network
Advice practice Hatch Financial Group has launched in Western Australia as a part of the AMP Advice network.
July 01, 2024
ASIC calls for AFSLs to correct FAR details, launches compliance hunt
ASIC has called AFSLs to correct records regarding their financial advisers on the Financial Advisers Register having discovered errors relating to qualifications and training courses.
July 01, 2024
‘Damn good fit’: Infocus completes Madison acquisition
Infocus has completed its acquisition of Madison, a month after the binding heads of agreement was signed. Infocus founder Darren Steinhardt tells Professional Planner the Madison brand will remain intact and there isn’t a single adviser in the Madison network he wouldn’t have welcomed if they were recruited organically.
June 28, 2024
Horizontal collaboration takes place of vertical integration
Vertical integration in financial advice is dead – or it should be – but horizontal collaboration is emerging in its place. The Licensee Summit heard how a tie-up between BlackRock, Lonsec and AMP promises to open access to robust and professionally managed SMAs even for small advice practices, while avoiding the conflicts identified by the Hayne royal commission, and in the face of a looming regulatory focus on SMA performance.
June 27, 2024
AMP Foundation appoints Alexis George as chair
AMP chief executive Alexis George has been appointed chair of the AMP Foundation, a corporate foundation working with individuals and social enterprises.
June 27, 2024
