The touchy subject of member service is set to receive fresh scrutiny as regulators warn that funds will be held responsible for mistakes made by third-party service providers. In a series of in-depth interviews, Investment Magazine unpacks the root cause of the super sector’s administration problems and the steps some funds are taking to address it.
Industry education provider Kaplan Professional has partnered with the College for Financial Planning, a Kaplan US company, to offer three globally-recognised designations in Australia.
Wealth company LGT Crestone has appointed Ben Potter as partner, investment adviser to its Adelaide office.
The majority of Australians (87 per cent) trust themselves to choose the right retirement product over the government, a Financial Services Council poll has found.
Coalition MP Andrew Bragg has gone on a talkback radio spray about group insurance settings, accusing super funds of dragging their feet on death benefit payments to members and the government of being too soft on APRA. Meanwhile, REST faces a class action over default income protection arrangements, furthering scrutiny of the sector.
Indigenous leader, author and activist Thomas Mayo said superannuation policy was a feature in a disinformation campaign against constitutional recognition at the referendum. Mayo urged the super sector to continue to listen to First Nations communities on retirement issues even without a formal Voice to Parliament.
Data from ASIC’s Moneysmart has found that Gen Z (aged 18 to 26) women are more likely than Gen Z men (87 to 77 per cent) to be severely stressed about the cost of living, while the generation as a whole reported feeling overwhelmed by finances and money.
Aware Real Estate, a subsidiary of Aware Super, is set to develop 135 apartments in Sydney inner suburb Zetland as the fund expands its built-to-rent portfolio.
For all of the perceived and actual benefits of AI – and there are many, and they are significant – there are risks and a much greater need for great governance, clear accountability and robust safeguards. The methods for introducing AI models to businesses don’t necessarily follow traditional innovation paths, which presents another set of challenges, says KPMG responsible AI lead Melinda Rankin.
The concern is the US office downturn could turn into a systemic financial crisis because so much debt needs renewing when US 10-year Treasury yields are about 4 per cent compared with less than 1 per cent in 2020. That means we can expect more write-downs in super portfolios.
The Federal Court has approved Count’s scheme of arrangement for its proposed acquisition of ASX-listed company Diverger.
Magellan Financial Group has nabbed Maple-Brown Abbott’s top executive Sophia Rahmani as managing director of its asset management business.
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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.
