UniSuper adds $260m Melbourne industrial development
UniSuper has acquired a warehouse, logistics and manufacturing greenfield development site in Deer Park, Melbourne for $260 million.
February 15, 2024
AMP ‘running hard’ to make licensee financially viable
Amid increased satisfaction and strong financial performance of its aligned practices, AMP’s Advice division continues to operate at a steep loss one year away from its stated target to break even by FY24. AMP head Alexis George tells Professional Planner there is still fat in the business to be trimmed and this will precede any other major shake-up to the licensee.
February 14, 2024
Slipstream Group names new business coach
Coaching group for financial planning and accounting practices, Slipstream Group, has appointed Darren Smith as business coach and national key accounts manager.
February 14, 2024
AMP’s road to recovery needs to avoid dead ends
A loss of $47 million would destroy any other licensee, but for AMP a loss of that magnitude is a sign its advice businesses remain on the road to recovery, Simon Hoyle writes. Even so, while it continues to lose so much money, its options to grow its presence in advice or extricate itself from the sector remain limited.
February 14, 2024
Hirst to replace Hazelton as AMP chair
AMP has named former Bendigo and Adelaide Bank chief executive Mike Hirst as chair, replacing Debra Hazelton who is retiring after this year’s AGM.
February 14, 2024
iExtend appoints chair
iExtend has appointed the founder of AMP’s private capital business Peter Cassidy as chair of its board.
February 14, 2024
SMSFs outperform APRA-regulated funds in market downturn: Research
University of Adelaide research has found that SMSFs outperformed ARPA-regulated super funds in a period of market downturns.
February 14, 2024
Grandfathered commissions back on agenda as anti-JAWG alliance forms
The Finance Brokers Association, which was believed to be influential in convincing the Morrison government to ditch the Hayne royal commission recommendation to ban mortgage broker commissions, has been tapped to join the AIOFP in a new populist alternative to the Joint Associations Working Group. While the two outspoken lobby groups are yet to determine a joint policy platform, life insurance – and even grandfathered investment – commissions will be high on the agenda.
February 13, 2024
Treasury consultation hears case for taxpayer-funded advice
Vanguard Australia has backed the suggestion to introduce a local version of the publicly funded UK pension guidance service, Pension Wise, in response to the government's consultation on retirement outcomes. However, the Financial Advice Association believes this will have little impact and has instead backed $2000 government rebates for advice fees.
February 13, 2024
FSC recommends lifting investor test threshold, grandfathering
Research released by the Financial Services Council has found that in less than a decade, almost a fifth of Australian households would be eligible to buy wholesale products without retail consumer protections, leaving them potentially vulnerable due to not properly understanding the associated financial risks.
February 13, 2024
REST ups impact and alternative allocations via agriculture fund
Retail workers industry fund REST has ramped up its impact and strategic alternatives allocations through an investment in the agriculture focused Cibus Fund II.
February 12, 2024
TAL unveils course program for its Risk Academy
Life insurer TAL has announced the 2024 course program for TAL Risk Academy, an education platform for financial advisers, professional year candidates, and support staff.
February 12, 2024
