FAAA pushes for extension on legacy retirement product exits
The shortage of financial advisers with legacy retirement product knowledge could make it a challenge for Australians to exit legacy retirement products which updated Treasury rules have aimed to introduce.
October 14, 2024
Super tax amendments in hands of crossbenchers
The body representing advisers to the almost $1 trillion self-managed super fund sector remains optimistic that its proposed amendments to a superannuation tax bill that were voted down in the lower house can be saved in the Senate, despite opposing voices in favour of the bill in its current state.
October 11, 2024
Number of new AFSLs declines in FY24
The proportion of new AFSL applications approved by ASIC has dropped over the past year, a report from the regulator shows. The findings come as it ramps up preparation for its new licensee registration portal it will launch early next year.
October 11, 2024
Test out tech to stop bad investments
Advice firms must decide how they want technology to benefit their business before investing large sums of money into systems that might not be the best fit. Testing out multiple systems can stop money being wasted on unnecessary technologies.
October 10, 2024
Profile CEO steps aside after seven years
Profile Financial Services CEO Lena Ridley will step away from the company at the end of next month, ending a nearly seven-year tenure that was marked by sweeping changes in the industry due to the Hayne royal commission, the Covid-19 pandemic, and the divestment of its product arm.
October 10, 2024
Jones cedes ground on tax adviser rules after crossbench, Coalition blocks
The government has agreed to fix shortcomings raised by industry bodies over new ethical obligations for tax financial advisers. The changes come after two disallowance motions in the Senate attempted to block the new rules.
October 09, 2024
Sherlock Wealth goes self licenced
Sherlock Wealth has announced it is operating under its own licence as an authorised representative of Sherlock Wealth Advisory Services.
October 09, 2024
How high-yield credit investors are playing the AI megatrend
While usually seen as the domain of equity investors, T. Rowe Price portfolio manager and vice president Mike Della Vedova says high-yield bonds are emerging as a unique exposure to megatrends like artificial intelligence and GLP-1 drugs. Large-cap stocks like Nvidia may provide the “picks and shovels” to the AI gold rush, but smaller companies with sub-investment grade credit profiles are providing the handles and heads, he says.
October 09, 2024
AI’s impact is reaching into areas that might surprise you
Investors have eagerly bid up shares of many utilities and independent power producers in recognition of the ongoing surge in power demand related to artificial intelligence. But looking under the hood at the financials of these companies, the boom in AI-related power demand is improving their credit quality – and could even boost some into the investment-grade credit universe.
October 09, 2024
High-yield credit market set for churn as rate cuts near
A rotation between high-yield strategies once known as “junk bonds” and investment-grade debt is due as the US Federal Reserve embarks on an anticipated interest rate-cutting cycle, making the former more attractive.
October 09, 2024
Iress announces executive re-shuffle
Iress has announced several changes to its executive team, including the departure of an Xplan co-founder.
October 08, 2024
