Industry Updates

Link Group receives $1.2b takeover bid

Super fund administration service provider Link Group has received a $1.2 billion takeover bid from a subsidiary of Japanese giant, Mitsubishi UFJ Financial Group.  

Zurich extends partnership with mental health charity Mr Perfect

Zurich Financial Services Australia has renewed its 12-month support for Australian mental health charity Mr Perfect. 

Conflicts, regulation, pricing and staffing: Sustainability of the research industry

An industry dominated by three key players that are grappling with challenges in recruitment and retention, as well as conflicts in pricing, will have some competition on its hands in the next year, the Researcher Forum has heard.

High yield fixed income is a compelling case for investors: T. Rowe Price

High yield fixed income products offer steady performance and moderate volatility, according to T. Rowe Price fixed income portfolio specialist Joran Laird. It can enhance returns in defensive portfolios or provide lower volatility in growth portfolios.

ART CIO Ian Patrick joins FEAL board

The Fund Executives Association (FEAL) has appointed Australian Retirement Trust’s CIO Ian Patrick to its board of directors, replacing Hostplus’ recently departed group executive of member experience, Paul Watson.

Count picks up Insignia-licensed practice

Sydney-based advisory business Critique Private Clients has joined the Count network, switching from Insignia-owned Consultum Financial Advisers.  

OpenInvest receives long-term funding

Melbourne-based investment platform OpenInvest has secured long-term financial support from the Tayside Group, the family office of the Smith family.  

Two-thirds pass November adviser exam

Some 66 per cent of candidates have passed the 23rd adviser exam, which was held in November, according to an update from ASIC.

AustralianSuper brings death claims management in-house

AustralianSuper has changed its membership service model to internalise the death claims and complaints processes, while announcing that it’s signed a memorandum of understanding to negotiate an extension for Link Group to provide core administration services until at least 2028.

AMP updates self-licensed adviser service offering

AMP has updated its offering for self-licensed financial advisers, Jigsaw Advice Solutions, with the aim of helping improve service efficiency.  

Govt releases draft legislation for adviser exam changes

The government has introduced draft legislation to modify the financial adviser exam by adding more multiple choice questions and opening up who can sit the exam.

Remove product issuers from fee consent if forms don’t get standardised: FAAA

After draft legislation for the first Quality of Advice Review recommendations failed to explicitly command product manufacturers to utilise a single prescribed fee consent form, the Financial Advice Association has suggested removing manufacturers from the process altogether.

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