Industry Updates

FAAA launches Career Centre for advice profession

The Financial Advice Association has launched its Career Centre, an online resource for employees, job seekers, and career changers in the financial advice profession.

AFCA appoints two industry directors

The Australian Financial Complaints Authority has appointed Raylene Bellottie and Yien Hong to its board as industry directors, replacing Claire Mackay and Andrew Fairley.

Infocus invests in Wealth Connexion

Infocus has taken an undisclosed equity position in advice business Wealth Connexion in Brisbane, which will in turn acquire several retail practices formerly held by Infocus.

Gen X, Y most optimistic about retirement lifestyle: Aware Super

Australians with over 20 years left in the workforce are twice as likely to expect a more luxurious standard of living in retirement than they have today, according to new research by Aware Super.

Gen Z more concerned about finances than other generations: ASIC

Finances are a major concern for seven in ten Gen Zs (68 per cent), more than any other age group (57 per cent of non-Gen Zs), according to new research released by ASIC’s Moneysmart program.

TAL pays $2b in claims in last six months

TAL has paid $2 billion in claims during the last six months, according to an update from the life insurer.

Fortnum and AZ NGA firm acquire Australian Unity’s advice business

Licensee Fortnum Private Wealth and AZ NGA-owned professional advisory firm Nestworth Financial Strategists have partnered to acquire Australian Unity’s financial advice business. 

Over 25pc of energy generation faces high climate risk: Research

Over 25 per cent of Australia’s energy generation currently falls into the three highest climate risk categories, according to the first version of the new Climate Risk Index released by insurer Zurich and consulting firm Mandala Partners.

Allianz Retire+ hires joint heads of group retirement solutions

Allianz Retire+ has appointed Catherine van der Veen and Lucy Foster as joint heads of group retirement solutions client delivery, a newly created position.

OTC derivative issuers pay $17m compensation

ASIC has overseen $17.4 million in compensation payments to over 2000 retail clients due to financial services law breaches by eight retail over the counter (OTC) derivative issuers.

Rest to establish in-house global equities management capability with new hire

Industry super fund Rest has appointed Richard Mercado as its head of internal global equities, tasked with building an internal global equities management capability.

Accumulation, pension returns fall in October: SuperRatings

Research house SuperRatings estimated that October will see super funds post negative investment performance, continuing a downward trend for the third consecutive month.  

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