InvestorDaily

InvestorDaily

InvestorDaily

InvestorDaily

Navleen Prasad has been appointed as the new CEO of the Australian Investment Council following the departure of Yasser El-Ansary earlier this year. Ms Prasad has over 25 years of experience in financial and professional services including 19 years at Macquarie, where she was most recently head of government and external relations. She previously held client-facing roles in the taxation consulting divisions of Deloitte and PwC.

After an extensive global search, AIC chairperson Alicia Gregory said that the board was unanimous in its view that Navleen was the right leader. “We are delighted to appoint Navleen to the role of CEO. Navleen brings an outstanding understanding of the investment management industry combining strong policy, government and communications credentials underpinned by a high results orientation,” she said. “In a constantly changing environment, Navleen’s skills, experience and fresh perspectives will be highly valued by the council’s team and membership base.”

The rest of this article can be found at investordaily.com.au.

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A new survey has found that online trading sites now outrank advisers as the most popular source of information for Australian investors. Of the 752 investors surveyed by CoreData on behalf of online trading platform Moomoo, 38 per cent said that they sourced their investment information from online communities, ahead of traditional wealth advisers (29 per cent) as well as family and friends (32 per cent). Moomoo marketing director Andrew Rogan said that a shift in behaviour had been seen during the past year coinciding with a volatile period for stock markets and changing global market outlooks.

“These issues are regularly discussed in our community forums — people are sharing their experiences from around the world to help shape personal investment decisions,” he said. “There’s a wealth of information and experience available to investors willing to put the work into cultivating a strong community.” According to the survey, 47 per cent of investors aged over 60 now source their investment information online, overtaking the 38 per cent who said that they use traditional advisers.

The rest of this article can be found at ifa.com.au.

ifa

Zurich Australia has announced that it has finalised the transfer of the life insurance business of OnePath Life. The integration sees OnePath Life’s assets and liabilities, including all life insurance policies, transferred to Zurich which took effect on 1 August 2022. However, OnePath Life will continue to retain assets to “meet regulatory capital requirements”.

“OnePath Life policies are now treated as if they had been issued and administered by Zurich rather than OnePath Life,” Zurich said in a statement on Friday 5 August. “For OnePath Life policy owners — other than a change to the insurer and statutory fund to which it is referable — these policies continue to operate and be administered in the same way.” The move was first announced in May, with both Zurich and OnePath Life announcing their intention to make a joint application to the Federal Court of Australia.

The rest of this article can be found at ifa.com.au.