Analysis of ATO data from the Financial Services Council (FSC) shows over 500,000 current taxpayers will be adversely impacted by the government’s proposed 30 per cent tax rate on earnings above $3 million. The modelling has produced examples of actual taxpayer impacts. Examples include: A 25-year-old IT professional earning $100,000 with a current superannuation balance of … Read more
Australian Retirement Trust (ART) has announced changes to its executive structure including a yet to be appointed newly-created role of chief of retirement to focus on ART’s retirement strategy. Chief member officer Karin Muller will depart the company in March to pursue other opportunities. Muller joined QSuper in 2015 and has held roles across information … Read more
The government’s plan to double the tax rates of earnings from high superannuation account balances will make the industry more complex to administer, leading to increased cost to members.
The use of technology has the potential to transform the investment industry bringing down the cost of asset management, exponentially increasing innovation and building more resilient and adaptive portfolios. So investors need to move now to keep pace with the change.
Islamic financial services provider Meezan Wealth Management has launched a low-cost digital investing solution to remove obstacles to ethical investing for the wider Islamic community in Australia. The portfolio is managed by Lifespan Financial Planning’s investment committee and is underpinned by Melbourne-based investment platform, OpenInvest. Meezan said the solution, called Meezan Invest, would revolutionise the … Read more
Asset manager Amundi has appointed Lawrence Wee as head of institutional sales in south Asia, based in Singapore. Wee brings more than 20 years of experience to the role. He previously worked as regional head of business development and marketing at Asset Management One. Before this, he headed the institutional sales teams at Manulife Investment … Read more
Global dividends grew strongly in 2022, rising 8.4 per cent to a record US$1.56 trillion ($2.31 trillion). After adjusting for the US dollar’s rise against most currencies and lower special dividends and other technical factors, underlying growth was stronger, at 13.9 per cent. Australian dividends hit $97.7 billion in 2022 – a record in Australian … Read more
The Australian Retirement Trust (ART) has appointed several prominent Australian leaders to its board of directors and investment committee, including the former deputy governor of the RBA. The three appointments bring vast experience from leadership positions in global financial services, investments, and governance roles: Mark Burgess will join the ART board as a director after … Read more
ASIC has launched its first court action against alleged greenwashing conduct, commencing civil penalty proceedings in the Federal Court against Mercer Superannuation for allegedly making misleading statements about the sustainable nature and characteristics of some of its superannuation investment options. In a media release on Tuesday morning, ASIC alleged Mercer made statements on its website about … Read more
While super funds are supportive of the Quality of Advice Review recommendation to allow them more flexibility to give advice, the proposal to allow others to provide advice if the client is not paying a fee has raised the risk of the re-emergence of vertically-integrated advice models.
More super fund mergers could lead to more economies of scale, but success would depend on how well funds were able to bring their operating systems together.
Financial planning dealer group FYG Planners have launched a WealthEye CRM solution built on the Dynamics 365 platform.
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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.
