FRIDAY WEALTH MANAGEMENT UPDATE 8 Oct 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

FE fundinfo acquires Zenith. https://www.chantwest.com.au/resources/fe-fundinfo-acquires-zenith-group#:~:text=FE%20fundinfo%2C%20a%20global%20fund,provider%20in%20the%20APAC%20region.

TAL completes acquisition and integration of Asteron Life. https://www.tal.com.au/about-us/media-centre/tal-completes-asteron-life-integration

AFCA reveals insurance complaints top 16 000 in last financial year. https://www.insurancenews.com.au/daily/insurance-complaints-top-16000-afca

CBA completes $6 billion off-market share buy-back of CBA ordinary shares. https://www.commbank.com.au/about-us/investors/cba-off-market-buy-back.html

Nuveen launches 2 new business units. https://www.investordaily.com.au/markets/50038-nuveen-launches-two-new-business-units

ETF Securities has launched a thematic equity ETF targeting hydrogen companies. https://www.investordaily.com.au/markets/50035-etf-securities-launches-thematic-equity-to-target-hydrogen-companies

RBA holds the official cash rate at a 0.1 of a percentage point. https://www.ifa.com.au/news/30176-rba-makes-cash-rate-call-for-october-2

NAOS Asset Management seeking to raise $35 million for the launch of new Private Opportunities Fund. https://www.investordaily.com.au/latest-news/50022-naos-launches-new-private-opportunities-fund

AustralianSuper makes local digital infra deal; acquires 70% stake in Australia Tower Network. https://www.financialstandard.com.au/news/australiansuper-makes-first-local-digital-infra-deal-179789962

Perpetual acquires Laminar Capital. https://laminarcapital.com.au/perpetual-acquires-laminar-capital/

IMF calls on regulators to act on greenwashing and adapt standardised responsible investment rating system. https://www.moneymanagement.com.au/news/funds-management/greenwashing-%E2%80%98plague%E2%80%99-industry-imf

Magellan sees outflows of $1.5 billion. https://www.moneymanagement.com.au/news/funds-management/portfolio-changes-see-15b-magellan-outflows

ASIC chases Mayfair 101 entities to pay $12 million in fines. https://www.financialstandard.com.au/news/asic-chases-12m-from-mayfair-179790004

The Australian Business Growth Fund announces first investment totalling $15 million. https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/australian-business-growth-fund-announces-first

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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