Industry Updates

Cbus appoints Fok as permanent CEO

Cbus Super has appointed Kristian Fok as chief executive and Marianne Walker deputy CEO.

David Knox receives OAM for service to the financial sector

Mercer senior partner David Knox has been made a Member of the Order of Australia for his service to the financial sector.

Zurich appoints chief claims officer

Zurich Financial Services has appointed Matt Paterson as chief claims officer in Australia and New Zealand.

Advisers will need to double client load post-QAR

In the post-Quality of Advice Review world institutions will be a necessity to carry mass-market advice to low balance clients, according to a panel discussion. But in the trade-off for red tape reduction, advisers will need to take on more high-balance clients for the advice gap to close.

Inflation stickier, economies more resilient than markets predict

Despite rising interest rates showing no signs of plateauing and hitting levels unseen by many professionals, lower volatility in rate movements will benefit the economy, some experts argue.

Generation Life launches updated investment-linked retirement product

Generation Life has launched its next generation of investment-linked lifetime annuity offering LifeIncome which gives retirees more flexibility for example to include a loved one other than a spouse as a the reversionary beneficiary when LifeIncome is commenced with non-super money.

HESTA hits initial 2030 Scope 1, 2 portfolio emission targets

The $72 billion HESTA announced on Friday it had hit its initial carbon reduction target of a 33 per cent in Scope 1 and Scope 2 emissions by 2030, some eight years ahead of plan.

Count appoints M&A expert to board

Count has appointed M&A expert Tim Martin to its board following an extensive recruitment process.

Backing the right advicetech horse a dilemma for advisers

Hurdles that advicetech newcomers face often see good ideas fail before they’ve had a chance to succeed. There’s no doubt technology has a big role in advice and will have a bigger one in future; what’s less clear is what that role is, and who the winners and losers in this space will be.

AMP sells off SuperConcepts

SMSF administration service SuperConcepts is the latest part of AMP’s business to be shipped off as the wealth manager continues to streamline operations. Former Count CEO Matthew Rowe will lead the company after the transition to private equity owners is completed.

Rowell to depart APRA

APRA deputy chair Helen Rowell will step down from her role at the end of June.

ART makes 3 executive changes

Superannuation fund Australian Retirement Trust has made three executive changes including within its advice and membership divisions.

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