Skandia’s former CEO, Lars-Eric Petersson, was sentenced to a two-year jail term by a Swedish court last week for fiddling the company’s executive bonus scheme.
Legg Mason gets down to business with 'affiliates' structure
Skandia’s former CEO, Lars-Eric Petersson, was sentenced to a two-year jail term by a Swedish court last week for fiddling the company’s executive bonus scheme.
Demand for ‘commission recapture’ rises as Russell savings pass $1b
There is increasing emphasis being placed on implementation costs in investment management and one of the more significant costs – broking commissions – appears to have come in for scrutiny by institutional investors over the past five years.
Aviva fever hits as takeover bid fails
Aviva, the biggest UK insurance company whose Australian interests include Portfolio Partners and the Navigator platform, could be up for grabs after its GBP17 billion bid for rival Prudential fell over last week.
Master trusts must open up to scrutiny, Weaven says
Garry Weaven, chair of Industry Fund Services (IFS), has challenged master funds to face a public fee audit after research commissioned by IFS once again found industry funds offered better performance and lower fees than their commercial rivals.
Australians ignorant of income protection
Five out of six Australians are not adequately protecting their income in the case of illness or injury, according to a national survey conducted by Comminsure.
AFS puts Oasis on watch after ING takeover
Dealer group Australian Financial Services (AFS) is reviewing its platform arrangements, following ING Australia’s acquisition of 76 per cent of platform provider Oasis Asset Management for $54 million.
Stars finally align for SFE and ASX after seven years
On the back of increased consolidation by exchanges worldwide the Australian Stock Exchange (ASX) has gained both ACCC and Sydney Futures Exchange (SFE) board approval for an acquisition of the futures exchange.
Merged $20 billion STA/ARF search for new recruits
Superannuation Trust of Australia (STA) and the Australian Retirement Fund (ARF) are looking for the first positions created as a result of their proposed merger – senior manager listed markets and senior manager operations.
Mothers Day Classic to reach $2m for breast cancer research
The Mothers Day Classic, organised by Women In Super, expects to pass the $2 million mark in funds raised for breast cancer research after the next event on May 14. The run/walk – this year in Sydney, Melbourne, Brisbane, Adelaide and Hobart – is well supported by the funds management industry as both sponsors and … Read more
It’s not you, it’s me: why Investor Wealth had to leave the institution
After six years with the IOOF-owned Winchcombe Carson dealer, the Investor Wealth business this month began trading under its own licence. But this was no typical dealer/adviser relationship breakdown. Investor Wealth principal Gareth Bradly explains the reasons for the amicable split.
How planners should handle the ‘emerging affluent’ investor
Financial planners well know that every client is different, however, some are more different than others. A new report by Cerulli Associates says that a rapidly growing segment of the market, which it calls the ‘emerging affluent’, requires particular attention from their advisers.
