MM Newsletter
  31 August, 2020
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Money Management Original
IDR trumps EDR for licensees
New data provided to a Parliamentary Committee has revealed the degree to which licensees are better offer resolving client remediation and other complaints via Internal Dispute Resolution.
Industry News
Speculation swirls in IOOF/MLC wealth play
With private equity underwhelmed by wealth management, IOOF is speculated to make a key announcement on acquiring the MLC financial planning elements.
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Money Management Original
Activity in PE secondary market to pick up in H2
The activity in the private equity secondary market is expected to pick up in the second half of the year, after a period of a slowdown during the recent months, according to Schroders.
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Industry News
Experts believe banks will raise variable mortgage rates
A group of experts surveyed believe banks may increase variable mortgage rates independent of the Reserve Bank of Australia in an attempt to recoup losses.
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Maybe the Super system isn’t so super after all?
With lingering financial scars from the 2008-09 Global Financial Crisis, many were already worried about how their savings would fare if another shock wave struck. Then it did.
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Industry News
Resist temptation to let emotions rule investment
Investors need to resist being ruled by their emotions when it comes to the market especially in times when investor confidence is low.
Industry News
VanEck launches eSports ETF
VanEck has announced the launch of its new video gaming and eSports exchange traded fund.
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Industry News
Christian Super to reduce fees
The fund’s typical member with $50,000 invested in a MySuper product would see a reduction of $55 per year.
Industry News
CSC partners with SuperFriend
The Commonwealth Superannuation Corporation aims to help reduce the stigma associated with mental health through its partnership with SuperFriend.
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Industry News
Adviser charged with 10 counts of SMSF fraud
The corporate watchdog alleges that Brett Gordon withdrew $502,000 from self-managed super fund bank accounts without authorisation, and paid personal debts using funds belonging to a firm he was a director of.
Industry News
Aus Unity appoints CIO
Dr Joe Fernandes has been appointed chief investment officer of Australian Unity, effective from 7 September, 2020.
Industry News
Countplus increases profit, eyes further expansion
Countplus has bedded down its acquisition of Count Financial and is looking to further growth after managing to increase its full-year profit.
Industry News
Planners still bearish despite market rebound
While planners are less optimistic about domestic stocks they are more likely to advise clients to invest their excess cash rather than reduce exposure to markets, according to a survey.
Editorial
Industry News
There is a case for deferring, not cancelling a rise in the SG
By the time Australia kicks off 2021, many more businesses will be closed and many more people will be officially unemployed, as opposed to the synthetic unemployment rate being generated by Government measures such as JobKeeper.
InFocus
Industry News
InFocus: Are politicians finally awake to their financial planning mess?
Mike Taylor writes that both Treasury and ASIC are conducting consultations which suggest that politicians of both stripes have finally woken up to the mess created in the financial planning industry.
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