Industry Updates

CSC selects Novigi for administration service improvements

Commonwealth Superannuation Corporation has entered a partnership with Novigi to combine its existing systems for five distinct superannuation schemes onto a unified administration platform, with Novigi supporting all platform operations for a seven-year term.

Insignia completes MLC Wealth separation from NAB

Insignia Financial has completed the separation of MLC Wealth from National Australia Bank.

Otivo announces executive expansion

Digital advice provider Otivo has promoted three people to it’s executive team, including chief technology officer Nathan Isterling who will now be chief information officer.

SelfWealth receives revised offer from Bell after rival bid

Selfwealth has announced it has received a revised proposal from Bell Financial Group to acquire 100 per cent of its shares for $0.25 cash per share by way of a scheme of arrangement.

ASIC releases updated guidance in response to DBFO act

The prudential regulator has issued guidance and updated existing guidance in response to DBFO reforms that passed earlier this year.

ASIC cancels AFSL after CSLR payment

ASIC has cancelled the AFSL of DOD Bookkeeping following a payment of compensation by the Compensation Scheme of Last Resort.

Cbus adds three CFMEU directors to board after independent review

Cbus Super has added three new member directors nominated by the Construction, Forestry and Maritime Employees Union, following an independent review by Deloitte found that they passed the  ‘fit and proper persons test’.

CareSuper continues to merge after Spirit Super tie-up

CareSuper and The Meat Industry Employees' Superannuation Fund (MIESF) have entered into a Heads of Agreement to explore a member transfer into CareSuper. 

AZ NGA completes acquisition of StrategyOne Advice Network

AZ NGA has acquired financial planning firm StrategyOne Advice Network, which specialises in wealth management, retirement planning and risk advice. 

Morningstar appoints director of manager research ratings for Australasia

Morningstar Australasia has hired Eva Cook as director of manager research ratings and new asset class lead in equities for Australia and New Zealand.

REST chief member officer resigns

REST chief member officer Deborah Potts has resigned from the super fund after a 9-year career with the fund. 

Magellan COO/CFO resigns

Kirsten Morton has resigned as chief operating officer and chief financial officer of Magellan Financial Group.

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