Allegations made in The West Australian newspaper last weekend of a $5 million fee paid by Westpoint to consultants Tom Collins and Sarah Brennan have been strongly contested by Collins.
Bloch switches codes to head the FPA
Former deputy head of IFSA, Jo-Anne Bloch, has been named as the new chief of the FPA, replacing Kerrie Kelly who left the organisation two weeks ago, six months short of completing her three-year contract.
Platforms to get the chop as Asteron gets Carter
Promina-owned financial services group Asteron will review its list of approved platforms, following the recent appointment of David Carter to the position of head of dealerships.
Bundled products get the nod from NAB
The National Australia Bank and its wealth management arm MLC have rolled out the first of a number of bundled products, expected to include a reverse mortgage, scheduled for this year.
Hedge funds a hit as Australia leads region
Australia’s hedge fund industry is now the largest in Asia, according to AXISS Australia’s just-released Hedge Fund report, with a market size of US$27 billion. Between June 2003 and June 2005 43 new hedge fund products were launched in Australia, compared to 48 in Hong Kong, 30 in Singapore and 28 in Japan.
Branching out: why Lyn Hughes left the security of a bank for independent practice
Gold Coast planner Lyn Hughes explains how her move out of the institutional world has enabled her to create the financial planning practice of her dreams.
Bribery and corruption: not here, we’re Australian
Corporate bribery and corruption has rarely come to light in Australia – maybe the occasional collusion finds its way before the ACCC – but with the AWB scandal all that has changed. A report released last week shows that Australian listed companies are not well equipped to deal with the potential problem.
How the ‘human factor’ detracts from investment returns
The ‘human factor’ in investing is being increasingly recognised as both an opportunity and threat to performance. This was a theme of last week’s van Eyk Research annual conference and, yesterday, MLC Implemented Consulting added its weight to the discussion in its latest client newsletter.
Wealth.net
Bluedoor Technologies launch a browser-based admin registry system designed to streamline business operations
Ord Minnett Enhanced Income Fund
Ord Minnett offers retail and wholesale investors access to a portfolio of wholesale income funds.
BT keen on AQR for up to $4b in global equities
BT Financial Group is expected to appoint a small but highly regarded US quant manager, AQR Capital, as its main global fund manager, giving the firm an effective entry to the Australian retail market with a mandate of up to $4 billion.
Lost and found: $750 million, could belong to AMP
AMP could add up to $750 million to its super fund business if all of the 300,000 clients it has contacted accept its offer to consolidate lost super accounts into an AMP product.
