Integro partners with regional WA accounting firm
Integro Private Wealth has partnered with AMD Chartered Accountants to increase access to advice in regional WA.
February sees fourth consecutive growth month for super funds
Super fund performance was up for the fourth consecutive month in February, with the median growth fund (61 to 80 per cent in growth assets) delivering a 1.9 per cent return for the period, according to researcher Chant West.
What the stoush between Hostplus and Employment Hero means for stapling
Stapling was meant to deliver better retirement outcomes for super fund members by reducing the incidence of multiple accounts, but there’s growing concern that the latest breed of employee onboarding platforms is undermining those efforts by encouraging new employees to choose a fund that pays to be promoted on the platform, rather choosing the fund they may already belong to.
Major asset managers gamble with developing AI tech
The proliferation of AI tools should mean even the largest institutions can rely on readymade technology to service their needs. In an interview with Investment Magazine in London, JP Morgan Asset Management CEO George Gatch says the decision to develop their own tools inhouse reflected the nuances needed to successfully implement AI.
AustralianSuper partners with TAL for retirement product
The nation’s largest super fund AustralianSuper has partnered with life insurer TAL to develop a new ‘income for life’ retirement option.
HeirWealth partners with open banking firm Envestnet Yodlee
Sydney-based wealthtech HeirWealth has partnered with open banking technology company Envestnet Yodlee to streamline the intergenerational wealth transfer process.
Australians want to invest ethically but fear greenwashing: RIAA
The majority of Australians (88 per cent) are expressing a desire to invest ethically, either via super or other investments, but have trouble identifying truly ethical financial products, according to a study by the Responsible Investment Association Australasia (RIAA).
MFS appoints new CIO
MFS Investment Management has appointed Alison O’Neill as its chief investment officer, overseeing a 300-person investment team across equity, fixed income, quantitative solutions and global trading teams.
Iress sells UK mortgage business
Iress has entered a binding agreement to sell its UK mortgage sales and originations business to Bain Capital for a cash consideration of £85m ($A164.3m) before costs.
‘Insane behaviour’ plagues external manager selection process: ART
The nation’s second-largest super fund, Australian Retirement Trust, is well-known for bucking the trend of internalisation, keeping the bulk of its assets with specialist external managers. But the fund’s senior PM, Peter Barany, says chasing past performance can result in a “merry-go-round” of disappointing mandate decisions.
APRA, ASIC publish FAR information pack
APRA and ASIC have published information to help banks, insurers and super funds prepare for the commencement of the Financial Accountability Regime (FAR).
Members ‘billions better off’ thanks to Australian funds’ lower costs
A focus on driving down costs, accelerated by the Your Future Your Super performance test, has seen Australian superannuation funds emerge as significantly lower-cost fiduciaries of retirement savings than their global counterparts. Members of Australian funds are billions of dollars a year better off as a result.
