Industry Updates

Betashares appoints ED for NZ expansion

ETF manager Betashares has appointed financial services executive Hugh Stevens as executive director, responsible for a range of growth, distribution, and strategic initiatives as part of the firm’s New Zealand expansion.

Charges laid after investigation into Sterling Income Trust

Sterling Group founder Raymond Jones, his son Ryan Jones, and director Simon Bell are each facing several criminal charges following ASIC’s investigation into the Sterling Income Trust (SIT) and the collapse of the Sterling First group of companies. 

Tech start-up launches financial planning software

Technology start-up Elan has launched financial planning software designed exclusively for Australian financial advisers. 

Count subsidiary acquires accounting firm

Count subsidiary firm Twomeys has acquired Canberra-based accounting firm Allan Watt Accounting (AWA). 

AZ NGA acquires outsourced HR firm

Professional services company AZ NGA has acquired outsourced human resources company Catalina Consultants as part of its plans to build out the range of business support solutions it offers its expanding network of financial advisory and accounting firms. 

Australia’s first Sukuk active ETF launched by Hejaz Group

Islamic Finance provider Hejaz Group has launched Australia’s first Sukuk active ETF, enabling investors to access a Shariah-compliant bond alternative product.

First Sentier appoints chief operating officer

Fund manager First Sentier Investors has appointed Amanda Gazal as chief operating officer, overseeing the company's day-to-day operations.  

TAL launches digital insurance platform for super members

Life insurer TAL has launched digital platform TAL Connect to help superannuation fund members manage their insurance covers and claims.  

State Street cuts management costs of six Australian SPDR ETFs

Asset management business State Street Global Advisors has announced substantial management cost reductions on six of its Australian-based SPDR ETFs. 

Maple-Brown Abbott promotes within distribution team

Boutique fund manager Maple-Brown Abbott has made a slew of promotions within its distribution team.  

Managed fund registrations soar while super products dip in September quarter: APIR

Industry utility APIR has identified 228 financial product registrations in the September quarter of 2023, in line with the five-year rolling average for the same period.  

Gender, income gaps persist in retirement savings: ASFA data

Industry data has found that a $25,000 difference in annual salary will mean 10 extra years of work when it comes to accumulating a comfortable superannuation balance before retirement.  

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