FRIDAY WEALTH MANAGEMENT UPDATE 17 Sep 2021

On Fridays, we put together wealth management industry news that may be of interest to professionals in superannuation, life insurance, banking & credit, or investments!

B & K Consulting Wealth Management Industry Update Concept – high rise building

 

CMC Markets announce the acquisition of ANZ’s share trading client base. https://www.investordaily.com.au/mergers-acquisitions/49913-big-four-bank-s-share-trading-client-base-acquired-by-online-platform

IMAP’s survey reveals that managed accounts is now a $111 billion market. https://www.imap.asn.au/publications/perspectives/108-perspectives/perspectives-spring-2021/1036-state-of-managedaccounts-2021

Commonwealth Bank of Australia hit with criminal charges over mis-selling consumer credit insurance. h https://www.insurancenews.com.au/daily/criminal-charges-filed-against-cba-over-cci-mis-selling

The ICCC has denied authorisation for Westpac to sell its Pacific businesses. https://www.westpac.com.au/about-westpac/media/media-releases/2021/14-september/

HESTA partners with Girls of Impact to improve gender diversity and career opportunities for young women in financial services. https://www.hesta.com.au/about-us/media-centre/HESTA-and-Girls-of-Impact-team-up.html

Financial advisers boosted their use of smart beta ETFs to replace actively managed funds. https://www.moneymanagement.com.au/news/funds-management/advisers-replace-active-management-smart-beta-etfs

MP accuse EISS of corruption. https://www.ifa.com.au/news/30064-mp-accuses-super-fund-of-corruption-this-is-deeply-questionable-behaviour

ASIC brings charges against ME Bank for alleged home loan misconduct. https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-249mr-asic-brings-criminal-charges-against-me-bank-for-alleged-misconduct-against-home-loan-clients/

Statewide Super increases premiums from November. https://www.financialstandard.com.au/news/statewide-super-increases-premiums-179779976

SuperRatings data show balanced superannuation options rose 1.6% in August and 18.2% over the past year. https://www.moneymanagement.com.au/news/superannuation/balanced-super-options-16-august

BNP Paribas Asset Management to acquire majority stake in Dynamic Credit Group. https://www.financialstandard.com.au/news/bnp-paribas-takes-stake-in-asset-manager-179779969

Finder research shows that  1 in 4 Australians don’t have a super fund. https://www.finder.com.au/1-in-4-australians-dont-have-a-super-fund

Australia ranks 7th again for retirement wellbeing. https://www.financialstandard.com.au/news/australia-ranked-seventh-for-retirement-wellbeing-179779949

ANZIIF reveals insurance awards finalists. https://www.insurancenews.com.au/daily/anziif-names-insurance-awards-finalists

 

We are an Australian based wealth management recruitment firm. We specialise in recruitment for banking & credit, superannuationlife insurance, and investment professionals- both temporary and permanent. The consultants at B & K Consulting are also active participants and contributors in leading industry forums in Wealth Management, such as ALUCA, ANZIIF, ASFA, FSC, FEAL, and CFA Society. If you are interested in learning more about how we are involved, what types of roles we have available or are looking for new talent, please email us at future@bkcon.com.au or call us at 02 9888 7888 for more information. Visit our job listings for current opportunities.

 

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