Issue 84 May 2017

Women’s aversion to investment risk remains

Australian women are still struggling to overcome barriers to investing, despite more than half saying they are concerned they are not on track to meet their financial goals. A survey Fidelity International survey found that women have a high aversion…

Get ready for lifetime income streams

The wealth management industry finally has sufficient clarity around the means testing of innovative lifetime income streams to start developing products, which could start coming on stream as soon as this year. The Actuaries Institute has welcomed the passage of…

ASIC raises the red flag

The Australian Securities and Investments Commission has put SMSF advisers on notice that it is maintaining its focus on the quality of advice provided to the sector. ASIC has made the quality of advice to SMSF trustees a key priority…

People: Klug to chair the TPB

Treasurer Josh Frydenberg has announced the appointment of Ian Klug as the chair of the Tax Practitioners Board. Klug has been a member of the board since 2015. He is a fellow of Chartered Accountants Australia and New Zealand and…

Open Banking will fuel disruption

Traditional financial services companies in Australia have long benefited from favourable regulation, limited competition and captive customers, with a large pool of profits making them ripe for disruption. We are witnessing this change now as new business models emerge adopting…

Robo advice software developer launches in Australia

Quantifeed, a Hong Kong based provider of digital wealth management solutions, has opened an office in Australia to strengthen its strategic relationships as demand for B2B digital advice solutions grows. Quantifeed’s new Sydney office, staffed with eight employees, will also…

Generation Life adds Legg Mason funds to its menu

Generation Life has added two funds to its investment menu from leading global investment manager Legg Mason. The two funds are the Legg Mason Martin Currie Real Income Fund and the Legg Mason Martin Currie Emerging Markets Fund. Founded more…

Dinimus Capital’s direct lending approach gathers support

Gilbert + Tobin has advised Dinimus Capital on the establishment of its third fund. The Fund, which has around 12 investors so far, focuses on providing short and medium-term direct loans to small to medium-sized enterprises and mid-market corporate borrowers. Dinimus…

Comparison site a tough gig

After sacking its chief executive midway through last year and ditching its failed “life admin” campaign, comparison site company iSelect promised a more hard-nosed approach to marketing and cost of sales. Based on its latest results, it does not have…

People: Statewide Super makes internal pick for top job

Statewide Super has appointed Tony D’Alessandro as chief executive. He will take over from Richard Nunn who has taken up the role of chief executive at MetLife. D’Alessandro has been in the role of general manager, member engagement for Statewide…