MLC Life to merge with Resolution Life under new brand
MLC Life and Resolution Life Australasia will come together under a new brand, Acenda, following the acquisition of the latter by Japanese insurer Nippon Life.
December 11, 2024
Key to the retirement puzzle is adviser and fund collaboration
The needs of members in retirement are highly individualised, and retirement solutions are complex. Matching solutions to members’ needs is a specialised task that most funds are ill-equipped to perform. The Professional Planner Researcher Forum has heard the key to getting it right for members is collaboration between funds and financial advisers.
December 10, 2024
Insignia CEO questions insourced admin model, slashes 25pc of headcount
Insignia Financial has shifted to outsource administration of its $180 billion superannuation assets, inking a deal with SS&C and reassigning 1300 workers to the service provider during the process. The decision stands in stark contrast to peers such as Aware Super, which recently internalised member services, but CEO Scott Hartley said that option is a “costly exercise”.
December 10, 2024
ASIC’s research house agenda zeroes in on advice
The corporate regulator says it will scrutinise the use of investment research and ratings by advisers and licensees. But ASIC Commissioner Alan Kirkland says the watchdog has little interest in greater direct oversight of the veracity of research itself.
December 09, 2024
Financial Services and Credit Panel re-appoints 24 members
The government has reappointed 24 members to the Financial Services and Credit Panel for a three-year period, commencing 1 January 2025.
December 09, 2024
ART appoints chief risk officer
Australian Retirement Trust has appointed Darryl Burke as its chief risk officer, effective from 17 March 2025.
December 09, 2024
Customisation v. standardisation of managed portfolios
Customisation of managed portfolios offers advice practices the ability to implement their investment philosophy through an outsourced offering, but the Professional Planner Researcher Forum heard not all business models may suit this solution.
December 06, 2024
Deloitte Cbus report blows the lid on director self-assessment
In an under-reported finding from the explosive report into Cbus governance, the consulting firm Deloitte has laid bare the shortcomings of a process that allows directors to self-assess skill sets when appointed to the board and when their tenure is renewed. Legal experts said self-assessment itself is not a sin, but complacency at a board level could be.
December 06, 2024
Former NAB trustees settle class action for $64 million
Former NAB trustees (NULIS Nominees and MLC Nominees) have reached an agreement with the plaintiffs of the MySuper class action commenced by Maurice Blackburn to settle for a total of $64.25 million.
December 06, 2024
Funds SA nabs Hostplus deputy CIO
Funds SA, the investment corporation owned by the Government of South Australia, has appointed current Hostplus executive Con Michalakis as its new chief investment officer.
December 06, 2024
