FRIDAY WEALTH MANAGEMENT UPDATE 27 AUG 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's wealth management industry news concept; high rise building

NGS Super and Australian Catholic Super merger comes to a halt. https://www.ngssuper.com.au/upcoming-merger

NAB to pay $18.5 million for fee disclosure statement failures. https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-226mr-nab-to-pay-18-5-million-penalty-for-fee-disclosure-statement-failures/

Westpac subsidiaries to pay $10.5 million for breaches of best interests duty. https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-221mr-westpac-subsidiaries-to-pay-10-5-million-penalty-for-breaches-of-best-interests-duty/

80% of ASIC’s funding will be used towards enforcement, supervision, and surveillance activities for FY21-22. https://www.moneymanagement.com.au/news/financial-planning/asic-levy-continue-fund-litigation

Rainmaker report reveals which industry super funds will dominate in 2025. https://www.financialstandard.com.au/news/industry-funds-to-dominate-in-2025-179779653

…also reveals best performing Australian and international fixed interest funds. https://www.financialstandard.com.au/news/best-fixed-interest-funds-revealed-179779622

APRA releases superannuation statistics for June 2021. https://www.apra.gov.au/news-and-publications/apra-releases-superannuation-statistics-for-june-2021

Australian Catholic Superannuation and Retirement Fund reduces fees. https://www.financialstandard.com.au/news/super-fund-reduces-fees-179779641

IOOF reports net loss after tax of $143.5 million for FY21. https://www.financialstandard.com.au/news/ioof-posts-143-5m-loss-for-fy21-179779686

HUB24 reports statutory net profit after tax of $9.8 million in financial year 2021. https://www.moneymanagement.com.au/news/funds-management/hub24-npat-20-fy21

Australian Ethical’s ESG investments push profit increase. https://www.investordaily.com.au/latest-news/49759-esg-investment-drive-pushes-australian-ethical-profit-boom

Link Group reports 6% revenue drop. https://www.moneymanagement.com.au/news/financial-planning/link-group%E2%80%99s-revenue-down-6

Future Fund delivers 22.2% returns. https://www.financialstandard.com.au/news/future-fund-boasts-22-2-returns-179779687

 

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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