Financial Standard
Karren Vergara writes. Premium Subscription for $295 for 1 year. Professional Subscription for $395 for 1 year. Tune in each week as we discuss the latest developments in Australia's wealth management industry. Financial Standard provides trade news and education for superannuation trustees, financial planners, industry professionals and ...
AustralianSuper takes monster hit on Pluralsight
Aug 27, 2024 · AustralianSuper takes monster hit on Pluralsight. AustralianSuper has written off its $1.1 billion investment in online education firm Pluralsight, following the company's restructuring. The superannuation giant invested in Pluralsight in 2021, as a co-underwriter with Vista Equity Partners, which led and managed the deal.
ANZ to pay $42m in insurance lawsuit | Financial Standard
Nov 14, 2022 · Slater and Gordon filed the class action against ANZ, OnePath Life, OnePath General Insurance, and QBE Insurance in 2020. A spokesperson from the law firm confirmed ANZ and its insurers will pay $42 million while QBE Insurance will pay $5 million. The bank's contribution is covered by a provision held on 30 September 2022, and the settlement is ...
ANZ to pay $57.5m to settle class action - Financial Standard
Mar 25, 2024 · The class action related to certain interest charged on specific ANZ personal credit cards in the period from 1 July 2010 to 1 January 2019. As part of the settlement, ANZ will pay $57.5 million, which is covered by a provision held at 30 September 2023. The settlement is without admission of liability and remains subject to court approval.
eToro acquires Spaceship, sets sights on super sector
Sep 27, 2024 · eToro has agreed to acquire Spaceship, expanding its local business and suite of offerings. The Spaceship name and brand will remain in place. Under the deal, eToro will take over ownership of Spaceship Super, which merged to become a sub-plan of OneSuper earlier this year. In all, Spaceship is home to about $1.5 billion in funds under management.
Federal Court approves BT Super $30m settlement
Dec 12, 2023 · The Federal Court approved the $29.95 million class action settlement against Westpac after subsidiaries BT Funds Management (BTFM) and Westpac Life Insurance Services (WLIS) allegedly failed to manage conflicts of interest when investing BT Super member money in …
Colonial First State chalks up strong super returns
Jul 20, 2023 · Colonial First State (CFS) has recorded double-digit returns across several of its default superannuation products for FY23. The CFS FirstChoice Employer Super growth fund (Lifestage 1975-1979) delivered a 12.2% return. The CFS FirstChoice Employer Super balanced fund (Lifestage 1965-1969) raked in a 10.5% return.
Australian Catholic Super, UniSuper sign SFT deed
Jul 5, 2022 · BY JAMIE WILLIAMSON | TUESDAY, 5 JUL 2022 12:37PM. Australian Catholic Superannuation and Retirement Fund and UniSuper will merge before the end of the year. The two funds have now signed a Successor Fund Transfer deed. This follows the Heads of Agreement they signed in May, formally confirming the …
ATO revises advice fee tax deductibility rules
Sep 26, 2024 · Releasing a final guidance yesterday, the ATO said: "Fees for financial advice an individual incurs may be deductible under section 25-5 to the extent that the advice related to managing their 'tax affairs'." It added that it takes the view that 'tax (financial) advice' is included within the meaning of 'tax affairs'.
Future Group acquires Verve Super | Financial Standard
Nov 29, 2023 · BY JAMIE WILLIAMSON | WEDNESDAY, 29 NOV 2023 12:51PM. Just a month on from taking on GuildSuper, Future Group has now acquired 100% of women-focused fund Verve Super. Verve Super is now a wholly owned subsidiary of Future Super, under a deal finalised this month. Having long struggled to offer a competitive fee …