FRIDAY WEALTH MANAGEMENT UPDATE 3 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's wealth management industry news concept; high rise buildings

 

Australia’s worst performing super funds named as 13 funds failed the MySuper Product Performance Test. https://7news.com.au/business/finance/billions-in-dud-super-products-data-shows-c-3828666

Cbus and Media Super merger progresses, signing a Successor Fund Transfer (SFT) deed. https://www.cbussuper.com.au/about-us/news/media-release/cbus-and-media-super-progresses-merger

Allianz workplace mental health report reveals over half of managers in finance & banking do not discuss mental health with the team. https://www.investordaily.com.au/latest-news/49799-over-half-of-all-managers-in-finance-sector-don-t-discuss-mental-health-with-team

Colonial First State cuts administration fees further on FirstChoice Employer Super. https://www.investordaily.com.au/latest-news/49792-colonial-first-state-cuts-administration-fees-further

Perpetual records net profit of $74.9 million in the financial year 2021. https://www.investordaily.com.au/latest-news/49794-perpetual-s-aum-skyrockets-as-global-asset-evolution-continues

Trilogy Funds partners with Netwealth. https://www.investordaily.com.au/latest-news/49815-trilogy-funds-announce-partnership-with-netwealth

ASIC survey of registrable superannuation trustees about their preparedness for the new enforceable internal dispute resolution (IDR) obligations has identified some areas requiring more work. https://asic.gov.au/about-asic/news-centre/find-a-media-release/2021-releases/21-230mr-check-on-superannuation-trustee-preparedness-for-new-idr-requirements-finds-more-work-required/

Bfinance report reveals that 4 in 5 wealth managers now integrate ESG. https://www.investordaily.com.au/latest-news/49808-4-in-5-wealth-managers-now-integrate-esg

Aware Super to sell farm assets. https://aware.com.au/content/dam/ftc/digital/pdfs/about/media/2021/remediated-victorian-farms-set-for-prosperous-future.pdf

ASIC financial adviser levies to be reduced. https://www.ifa.com.au/news/29994-treasurer-announces-asic-levy-relief

A new low of 60% have passed the FASEA exam. https://www.moneymanagement.com.au/news/financial-planning/only-60-pass-july-fasea-exam

Government to roll out plan to increase competitiveness of managed funds. https://www.financialstandard.com.au/news/plan-to-increase-competitiveness-of-managed-funds-179779729

Rest to streamlines asset classes effective end of Sept. https://www.financialstandard.com.au/news/rest-streamlines-asset-classes-179779751

AIST survey shows only half of super funds change their investment profile as a result of the new Your Future, Your Super performance test. https://www.investordaily.com.au/superannuation/49805-super-funds-set-to-follow-big-four-banks

 

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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