US giant Merchant backs risk advice firm in first local deal
New York-based private equity firm Merchant Investment Management has inked its first local deal, almost 12 months after entering the Australian market. It has taken a non-controlling, undisclosed stake in national advisory firm MBS Insurance in a move Merchant partner David Haintz says reflects strong demand for risk insurance specialisation.
September 25, 2023
Adviser value worth 5.9 pc in 2023: Report
Investment returns for advised Australians are 5.9 per cent better off than non-advised investors, according to a report by investment manager Russell Investments. The findings could help advisers articulate their value to clients and the extra return the profession delivers.
September 25, 2023
ART launches Net Zero 2050 Roadmap
Industry super fund Australian Retirement Trust has launched its Net Zero 2050 Roadmap, outlining its commitments to achieving a net zero greenhouse gas emission investment portfolio by 2050.
September 25, 2023
UniSuper appoints BNP Paribas for collateral management
Industry super fund UniSuper has appointed BNP Paribas’ Securities Services to provide triparty collateral management services for its global trading activity.
September 25, 2023
Financial stress takes a toll: TAL research
A recent research study by life insurer TAL has highlighted the impact of financial stress on employees and the role of financial literacy in mitigating it.
September 25, 2023
Count acquires Diverger in $45m deal
Creating the third-largest licensee, the acquisition pairs Count – with its large number of equity stakes – with service-focused Diverger. The deal allows both businesses to leverage expertise in areas the other has been aiming to grow.
September 22, 2023
State Street opens new headquarters, brand refresh
State Street Corporation has opened its new global headquarters building at One Congress Street, located in the Bullfinch Crossing area of downtown Boston, US.
September 22, 2023
Four steps for super funds to meet the retirement challenge
To adopt best practice in retirement, super funds need to make it a top priority, resolve their organisational structure, implement strong executive-level leadership and consider the creation of a retirement committee.
September 22, 2023
Maple-Brown Abbott gets Future Fund small caps mandate
Maple-Brown Abbott has been chosen by the Future Fund to execute a new Australian active small caps mandate as they selectively pursue alpha-seeking strategies in their $65 billion listed equities program.
September 22, 2023
Federal Court fines NAB $2.1m for unjust banking fees
The Federal Court has ordered NAB to pay a $2.1 million penalty for wrongly charging customers periodic payment fees.
September 22, 2023
Working it out: The adviser group aiming to re-build SOAs
Ahead of an expected government consultation on future regulatory standards for Statements of Advice, a working group of advisers is trying to create a blueprint to present to the government. But they are calling on the industry to add their input to further solidify consensus in the profession.
September 21, 2023
Advice now on students’ radar
Striver, which focuses on expanding the recruiting pool with new talent, held its inaugural 'Brimstone' event in Sydney this week to tout the benefits of the profession.
September 21, 2023
