Platforms seek to compete with industry funds on low-cost options
Platforms are preparing to launch low-cost options to compete head-on with industry super funds. SuitabilityHub managing director Recep Peker says this will lead to better outcomes for lower-balance clients, but competition to compress fees risks creating a race to the bottom.
February 15, 2024
Taxpayers subsidising advice doesn’t address core issues
The FAAA’s suggestion of a financial advice fee subsidy is an extension of earlier calls for the tax-deductibility of advice. Both would shift at least some of the burden of paying for advice from the individuals receiving the advice and on to the taxpayer. But Simon Hoyle asks is that a fair thing to ask?
February 15, 2024
Maple-Brown Abbott chief to lead Magellan
Magellan Financial Group has nabbed Maple-Brown Abbott’s top executive Sophia Rahmani as managing director of its asset management business.
February 15, 2024
HUB24 remains top adviser platform: Investment Trends
HUB24 has remained the top investment platform for advisers, according to research firm Investment Trends.
February 15, 2024
Zurich renews partnership with Melbourne Football Club
Life insurer Zurich has extended its partnership with the Melbourne Football Club men’s and women’s AFL teams for another three seasons until 2026.
February 15, 2024
DASH posts close to 50pc jump in FUA
DASH Technology Group has posted a close to 50 per cent jump in its investment platform’s funds under administration for the 2023 calendar year.
February 15, 2024
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
