How financial planning around super will likely change Lower superannuation fund returns over the long term may see financial planners forced to change their traditional advice model around superannuation, particularly for those approaching retirement. For more.

ME Bank scrambles in face of redraw reduction controversy Hard-pressed industry funds bank, ME Bank, is offering clients financing rearrangements and a six-month repayment holiday as it scrambles to deal with the controversy around its unilateral change to mortgage redraw facilities. For more.

Tencent takes substantial stake in Afterpay The payments firm is looking to collaborate in technology, geographic expansion and future payment options with the Chinese technology giant. For more.

Women hit harder by COVID-19 job losses The high percentage of female staff in COVID-19 affected sectors such as retail and arts means women are being hit harder by economic effects of the pandemic. For more.

Reverse Mortgage Specialists transition to Smooth Retirement brand South Australia’s only reverse mortgage broker has transitioned to the Smooth Retirement name, joining the company which launched only nine months ago. For more.

Market likely to turnaround There has been a distinct turnaround in the market but if the ASX All Ordinaries index fails to rise above 5,800 over the next month, the current move may still be a “suckers’ rally”, according to Wealth Within. For more.

Pinnacle unveils EM-focused investment boutique in London Pinnacle Investment Management has announced that five former Stewart Investors senior members are among founding members of a London-based emerging markets investment boutique. For more.

AMP kicking goals with the AFL The players’ association of the highest level of Australian rules football has extended their 20-year partnership with AMP as the default superannuation provider. For more.

Financial hardship payments up 200 times An estimated 855,000 early release of superannuation payments have been made totalling $7.1 billion by 30 April, according to an industry body. For more.

YBR gets $1.9m for wealth business Yellow Brick Road has completed the sale of its wealth business to Sequoia for just over $1.9 million. For more.

Criticisms of life/risk advisers don’t hold water With the Australian Securities and Investments Commission’s review of the Life Insurance Framework just around the corner, the last thing life/risk advisers need is criticism based on selective interpretations of industry data. For more.

InFocus: Have NAB and CBA left their wealth exits too late? Mike Taylor writes that timing is everything and that while Westpac and ANZ have largely cleared their books of their wealth management businesses, the Commonwealth Bank and National Australia Bank continue to have a problem. For more.