ASIC reinforces 'know your client' with mortgage broker best interests Mortgage brokers are going to have to abandon a one-size-fits-all approach with the Australian Securities and Investments Commission reinforcing that ‘know your client’ will be a central pillar of their best interests obligations. For more.

Corporate super losses weigh on AMP Data provided to a Parliamentary committee has revealed how the loss of corporate superannuation mandates served to magnify the effects of market disruption and the Government’s superannuation early access regime on AMP’s super balances. For more.

Advisers warned of more market bumps to come Advisers should brace their clients for an elongated U-shaped recovery which will require patience, diverse allocation and a long view, according to a panel of portfolio managers and analysts. For more.

Extra fees for MLC customers invested in non-NAB investments MLC customers are being charged 0.1% for non-NAB owned investments and 0.15% for ASX-listed investments, according to reports. For more.

Franklin Templeton cuts fees on six funds Franklin Templeton will cut management fees on six of its funds from 1 July, 2020, in order to ‘deliver better outcomes for investors’ at a challenging time in markets. For more.

Consumer staples to buck zero dividend trend Fund manager Allan Gray is forecasting near-zero yields for the majority of ASX-listed companies in the future, although consumer staples may be able to buck this trend. For more.

Warakirri AM buys 50% in Flinders Investment Warakirri Asset Management has announced it has entered a strategic partnership with Flinders Investment Partners which will see it acquire 50% of Flinders. For more.

Record capital raisings in April April was a record-breaking month, with 37 placements raising a total of $13 billion, according to Zenith Investment Partners. For more.

ANZ fails COVID fairness test Australia’s Big Four banks have been rated on their COVID-19 responses by consumer advocate Choice, with ANZ performing the worst. For more.

Scams on the rise ASIC has seen a 20% rise in the number of investment scam reports during the COVID-19 pandemic, compared the same timeframe last year. For more.

The Cinderella of real estate investments As the average life expectancy rises to 83 years, this puts pressure on society to care for an aged population and opportunities in the healthcare property sector, writes Andrew Hemming. For more.