Australia’s sovereign wealth fund delivered 6 per cent in the financial year ended June 30, in what its chair, former treasurer Peter Costello, described as a challenging environment amid persistent inflation. The Future Fund board continues to manage expectations, warning returns over the near term will be lower than the market and community have become accustomed to.
Funds are realising that meeting a member’s retirement income needs will likely require information, guidance and in some cases financial advice, combined with a product solution of some description. But Super-Rewards founder Pascale Helyar-Moray says ASFA’s retirement standard is not fit for purpose amid rising interest rates.
Russell Investments has expanded its sustainable managed portfolios to include multi-asset conservative, diversified 50, and high-growth options.
Community-focused advisory firm TISLife has joined Count’s national advice community.
The federal opposition says the government’s focus on legislating a purpose for the superannuation system fails to place sufficient priority on home ownership and the age pension, in breach of the conclusions of the 2021 Retirement Income Review. Shadow Minister for Finance and former AustralianSuper employee Jane Hume says a “purpose of retirement” debate would better serve consumers.
Amid criticism over its past performance managing the sector, the opposition has called on the government to take swift action on all 22 Quality of Advice Review recommendations to close out a decade-plus stream of regulatory reform. If need be it will seek a mandate from the general public at the polls.
State Super has selected independent software platform Premialab to assist in the delivery of portfolio management and risk solutions.
MLC Life Insurance has launched a pilot of Wysa Assure, an AI-based mental health support application, in partnership with Swiss Re Reinsurance Solutions.
Industry superannuation funds Spirit Super and CareSuper have selected the technology of software company Iress as the foundation for their merged entity.
Shadow Treasurer Angus Taylor and Shadow Finance Minister Jane Hume will on Monday unveil their alternative vision for management of the Australian economy and policies impacting the financial services industry.
The Financial Advice Association has received 9525 membership renewals which includes 8093 practitioners.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
