Insights
CBA offloads advice group for $2.5m
InvestorDaily Australia’s largest bank has confirmed that it will sell a major advice dealer group with 359 advisers for $2.5 million. Together with a special purpose subsidiary of a discretionary trust established for the benefit of Count Member Firms, CountPlus will enter a binding sale and purchase agreement to purchase Count Financial from the Commonwealth […]
Swiss lending start-up to hit Australia
InvestorDaily The Credit Suisse-backed alternative lending start-up Tradeplus24 is set to launch in Australia as the company’s first international expansion out of Switzerland. The move will be led by former NAB executive Adam Lane. Australia was selected as the company’s first overseas market due to a “significantly underbanked niche caused by alternative lenders typically not […]
UBS inks major deal with Japanese banking giant
InvestorDaily The Swiss bank has revealed plans to launch a comprehensive strategic wealth management partnership in Japan. UBS and Sumitomo Mitsui Trust Holdings Inc. (SuMi Trust Holdings) have agreed to establish a joint venture, 51 percent owned by UBS, that will offer products, investment advice and services beyond what either UBS Global Wealth Management or […]
Rate cut does not mean economy is weak: Frydneberg, Lowe
InvestorDaily Treasurer Josh Fryendberg and RBA’s Philip Lowe have both maintained that the decision to cut rates was not due to a weaker economic outlook despite new data suggesting that it is. Tuesday’s rate cut from the RBA brought the rate to the historic low of 1.25 per cent after holding steady for two and […]
Economic changes to cause ‘heartburn’ for asset managers
InvestorDaily A destabilising economic downturn will take place in the near future and it will cause some stress for asset managers, but it is not a doomsday scenario according to one executive. Michael Fawley, vice-chairman of Capital Group International, made the comments at Morningstar’s annual Investor Conference after telling the room of the upcoming economic […]
June 2019
With every election we hear similar things from our clients: “We’re just waiting to see what happens after the election.” It’s common for people to be wary around election time. A new budget and a new government always has various implications for the financial services sector, even more so in the wake of increased scrutiny […]