MM Newsletter
  20 July, 2020
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Industry News
Third early release surge predicted
42% of Australians have reported being negatively financially impacted by COVID-19 giving rise to concerns of a third surge in superannuation early access claims if and when JobKeeper is wound back.
Industry News
Growth funds end FY with 0.5% loss
Despite losing 0.5% for the financial year growth funds have had an “excellent year” as international shares were up 3.6% in hedged terms and 5.2% in unhedged terms, according to Chant West.
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Industry News
China first country to return to growth
Gross domestic product growth in China hit 3.2% in the second quarter, making it the first country to return to growth following the COVID-19 pandemic and performing far better than its Western counterparts.
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Industry News
All Ords could hit 6,660 points within a month
The ASX All Ordinaries index could hit 6,600 in the next two to four weeks, according to Wealth Within’s chief analyst.
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What does the successful advice business of the future look like?
It has to be about more than just survival for financial planning practices as they seek to deal with reduced planner numbers and greater regulatory challenges. It’s about adopting the right business model.
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Industry News
Euroz and Hartleys sign bid implementation deal
Euroz and Hartleys have announced they have entered into a binding bid implementation agreement under which Euroz has made an off-market takeover offer to acquire 100% of Hartley’s issued capital.
Industry News
Seamless SMSF appoints BDM
The self-managed superannuation fund administration and audit firm has appointed Jo Hurley, who will return to the industry.
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FSC appoints new fund managers to board
It has appointed four new fund managers to its board and established a new board committee, the Fund Management Board Committee, to drive the strategic policy direction of the Australian funds management sector.
Industry News
Adviser banning overturned by AAT upheld by Federal Court
The Australian Securities and Investments Commission has welcomed a Federal Court decision which overturned an Administrative Appeal Tribunal which had overturned an adviser banning on a technical interpretation.
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Industry News
Forex Capital sued for unconscionable conduct and conflicted remuneration
The Australian Securities and Investments Commission has started civil penalty proceedings against the firm as its sole director, Shlomo Yoshai.
Industry News
Parliamentary committee oversight of FASEA a good thing
Regular Parliamentary Committee scrutiny of the Financial Adviser Standards and Ethics Authority may have helped win the adviser support it so badly needs.
Industry News
InFocus: Individual adviser registration – a step forward on an evolutionary road
The chair of licensee Synchron, Michael Harrison sees merit and advantages in a move towards individual adviser registration.
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