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Millennial investors a force to be reckoned with

The Millennials are building their careers, increasing their earning capacity and inheriting the Baby Boomers’ wealth. And they have a different approach to investing. That finding comes from the sixth annual Legg Mason Global Investment Survey 2018. It also says…

People: Former SMSFA boss jumps into the fire at AMP

AMP has appointed Andrea Slattery as a non-executive director. Slattery has 26 years of experience in financial services and is currently a non-executive director at Clean Energy Finance Corporation, Argo Global Listed Infrastructure and the South Australia Cricket Association. She…

People: AUB Group picks new CEO

Insurance broker and risk management adviser AUB Group has appointed Mike Emmett as its new chief executive. Emmett was most recently the CEO of Cover-More. He has held senior roles at QBE Insurance, EY, Accenture and IBM. He replaces Mark…

People: Lender ends its dual CEO experiment

Non-bank mortgage lender Resimac has changed its management structure, replacing its joint chief executive arrangement with a single CEO. The company has had two CEOs since it merged with Homeloans Ltd in 2016, but now Scott McWilliam will be the…

Employers called on to promote financial wellbeing

Financial stress affects two in five Australian workers during their careers and there are currently 2.4 million people (19 percent of Australian employees) suffering financial stress. Part of the solution lies in the workplace, according to new research. The proportion…

BT bulks up on managed accounts

BT has expanded its product offering, adding six active diversified managed portfolios to BT Panorama, with the focus on a low fee structure. The new CoreSeries is offered with no portfolio level investment management fees and underlying management fees between…

People: Sharp fills the gap at Managed Accounts

The chief financial officer of platform provider Managed Accounts Holdings, Mark Pozzi, has resigned. Executive chair Don Sharp will act in the role until a replacement is found. The company announced several appointments. Pamella Wilson has been appointed chief operating…

Quality of advice the key to SMSF outcomes

The self-managed super fund sector got an unexpected fillip when the Productivity Commission backed away from proscribing minimum balances for SMSFs when it handed down its final report on assessing the efficiency and competitiveness of the superannuation system. In its…

Infrastructure a defensive asset play

Investors face a challenging 2019 with many signs pointing to the need to increase allocations to defensive assets with the bull market likely to come to a thundering halt, says Nick Langley, CIO at RARE Infrastructure, a specialist investment manager…

LRBAs get some breathing space

The Council of Financial Regulators has downplayed the risk of Limited Recourse Borrowing Arrangements (LRBAs) to the financial system and housing market in its December quarterly statement. In an announcement that will give the SMSF sector some much-needed “Christmas cheer”,…