Industry Updates

The figures are in: Big 14 super funds represent 80pc of assets

APRA’s annual release of fund-level superannuation statistics shows the presence of 14 large funds managing just over 80 per cent of industry assets amid a sizable but shrinking number of very small funds who hold less than $10 billion each.

Finding the right time: Indexation creates retirement income conundrum

Cost of living issues faced by retirees due to inflation has dominated adviser enquiries to BT’s technical team which has suggested planners may need to factor in indexation when commencing a new retirement stream for clients.

Super fund: product provider or benevolent fiduciary?

Retirees require a central retirement coordinator, and the two lead candidates are Government and super funds. For super funds to perform this role requires them to be acknowledged as more than simply product providers.

Lumiant integrates with Xplan

Advice and client engagement platform Lumiant has integrated with Xplan, which it said will remove the need for double data entry.

Diverger boosts cybersecurity capabilities with acquisition of Priority Networking

Financial services company Diverger has acquired Priority Networking, a technology services firm.

HUB24 net flows down after recording breaking quarter

HUB24 has received net inflows of $2.8 billion in Q2 FY23, down 23.6 per cent compared to record inflows achieved in Q2 FY22, according to the platform provider.

Apex awarded Capital Prudential Real Estate Master Trust mandate

Capital Prudential Manager has appointed global financial services provider Apex to support the Capital Prudential Real Estate Master Trust.

Hughes to depart ASIC and join Vanguard

ASIC commissioner Sean Hughes will end his term on 3 February 2023, after accepting a role with Vanguard as Australian head of office of general counsel.

DomaCom sees client boost, re-lists on ASX

Fractional investment platform for advisers, DomaCom, has reported customer accounts numbered 2,180 by the end of the December 2022 quarter, 49 per cent year on year (YoY).

A world-class employee value proposition is not optional anymore

The advice industry can learn a lot about attracting and retaining talent from elite nightclubs, AZ NGA’s Paul Barrett writes. The mystique of exclusivity creates a surge of desirability.

High-performing practices can service 40pc more clients: Dimensional

The best advice practices in Australia can service 40 per cent more households, further heightening the revenue gap between the best and the average.

Managed account product launches double

The number of managed account product launches in 2022 doubled compared to the rolling five-year average, according to data from APIR Systems.

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