FPA asks which rules will apply to AFCA’s extended jurisdiction

The Financial Planning Association has raised concerns about the plan to extend the Australian Financial Complaints Authority’s mandate back to 2008, saying there is doubt about whether professional indemnity policies will cover…

Direct insurance market due for a shake-up

If direct selling of life insurance is to survive the aftermath of the Hayne Royal Commission, product design will have to change and insurers will have to adapt their distribution networks. Possible…

People: Korn Ferry appoints new Australasian MD

Executive recruitment company Korn Ferry has appointed Tim Nelson as the managing director of its Australasian operations. Nelson joined Korn Ferry as a financial services partner in 1998 and went on to…

The bearish view of the global economic cycle

Federal Reserve Policy A good place to start evaluating the bearish case for global growth is to consider policy changes at the US Federal Reserve. The Fed raised interest rates by over…

Metrics completes LIT IPO, launches a new capital raising

Commercial lender Metrics Credit Partners is bulking up, with the launch of a $400 million capital raising for its ASX-listed Master Income Trust. Metrics is on a roll. Last month it raised…

The new ESG push: annual director elections

State Street has called for a debate on Australian board accountability, arguing for annual elections for all directors. Rakhi Kumar, head of ESG investments and asset stewardship at State Street Global Advisors,…

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Instreet offers exposure to rising oil prices

Instreet Investment has launched an investment product which aims to provide investors with exposure to the potential upside from oil price movements…

Liquid alternatives get their own AIMA guide

In another indication of the growing demand for liquid alternatives, the Alternative Investment Management Association (AIMA) has published a new guide about setting up and managing a liquid alternatives fund…

SMSF sector and retirees the big winners from FSI

Limited recourse borrowings arrangements (LRBAs) remain part of the SMSF investment architecture with the Government’s decision to rule out the Financial System Inquiry’s (FSI) recommendation to abolish them. But super funds will have to pre-select a pension product for members, as the FSI had recommended…

Consumers the winners in changing world

We are entering an interesting stage in the evolution of the advice industry in Australia. In the current environment of change, a little historical perspective may be helpful for those looking for a guide to what the future holds…

Aussie economy: it’s not all gloom

The outlook for the Australian economy is ‘somewhat positive’. Low interest rates and the decline in the Australian dollar continue to be significant factors in helping the economy transform from the commodity boom. The non-mining sector has been sluggish but is slowly on the mend…

Prescott introduces family office concept to Adelaide

Prescott Securities has established a Malcolm Claire service in Adelaide, believed to be the first of its kind, with the appointment of Malcolm Caire as head of the advisory business…

Eight IP confirms $50m small-cap LIC

Eight Investment Partners (8IP) has confirmed the initial public offering of its first listed investment company, 8IP Emerging Companies Ltd (8EC), with the prospectus launched this week…