Financial Standard
READ MORE. Financial Standard provides trade news and education for superannuation trustees, financial planners, industry professionals and investment managers.
ANZ to pay $57.5m to settle class action - Financial Standard
Mar 25, 2024 · The class action related to certain interest charged on specific ANZ personal credit cards in the period from 1 July 2010 to 1 January 2019. As part of the settlement, ANZ will pay $57.5 million, which is covered by a provision held at 30 September 2023. The settlement is without admission of liability and remains subject to court approval.
Financial literacy in Australia drops by almost 10%
Sep 6, 2022 · The data suggests an almost 10% drop in financial literacy since the federal government's 2021 Australian Financial Capability Survey reported that 68% of respondents were financially literate. The survey further reported that women had higher levels of financial illiteracy, 53.77% were literate compared to men 70.19%.
Retirees not confident in Age Pension: Allianz Retire+
Aug 23, 2024 · A new survey from Allianz Retire+, How do we make retirements more epic?, found that 82% of retirees and pre-retirees believe the Age Pension is insufficient to support their retirement fully. And up to 38% of the surveyed plan to "explore part-time work or other employment opportunities post-retirement", while 39% of those still undecided are ...
Aware Super takes 100% of Oak Tree Group - Financial Standard
Aug 17, 2023 · Aware Super is now sole owner of Oak Tree Group, positioning itself as a significant owner of retirement living assets in Australia while also increasing its global presence in the living sector to $5 billion. Back in 2017, the fund's initial commitment of 70% marked its debut investment in the retirement living space.
J.P. Morgan rolls out global accounting services
Sep 23, 2020 · J.P. Morgan rolls out global accounting services. J.P. Morgan has begun moving its Australian customers over to its global accounting system, which will give local clients access to additional services. The move to the new accounting system, FIS' InvestOne, has been a multi-year project and seeks to deliver enhanced, globally consistent ...
Thirty-eight super funds face sustainability issues: APRA
Mar 30, 2022 · BY JAMIE WILLIAMSON | WEDNESDAY, 30 MAR 2022 11:51AM. APRA has named the superannuation funds it believes face immediate sustainability issues, with 38 of 78 funds declining on all metrics measured. APRA looked at the three sustainability metrics in the 2021 MySuper and Choice heatmaps; member accounts, cash flows and rollovers.
Australian Unity sells advice arm to Fortnum, Nestworth
Nov 14, 2023 · BY ANDREW MCKEAN | TUESDAY, 14 NOV 202312:28PM. Australian Unity entered into a strategic alliance, selling its financial advice business to AZ NGA-owned advisory firm Nestworth and Fortnum Private Wealth. AZ NGA, through Nestworth, will acquire Australian Unity's employed adviser and corporate superannuation services business.
Insurance - Financial Standard
The number of life insurance complaints may have declined 24% in the 2023 financial year, but policyholders continue to complain about claims-handling delays and insurers peddling misleading information.
AMP BOLR litigants face lengthy payout process
Sep 17, 2024 · Despite the Federal Court greenlighting the AMP Buyer of Last Resort (BOLR) lawsuit settlement amount, there is still a long way to go before financial advisers can have peace of mind with the payout process to potentially draw out to mid-2025.. This is according to The Advisers Association (TAA) chief executive Neil Macdonald, who said that advisers can still lodge an appeal of Justice ...