Aussies and Kiwis sign super partnership
Federal Treasurer Wayne Swan and New Zealand Finance Minister Bill English have ratified a scheme to allow portability of retirement savings between their two countries.
A Memorandum of Understanding was signed yesterday that will allow Australians and New Zealanders to transfer their retirement savings across the Tasman. It’s an agreement Swan said would make it easier for people to move between the two countries while also helping to recover ‘lost’ retirement savings.
The ministers met in Brisbane yesterday to discuss a number of issues relating to the economies of the two countries. The pair discussed the work being done to finalise an Investment Protocol by the end of this year to promote trans-Tasman investment flows, while the Australia-New Zealand tax treaty was also finalised.
Swan said the pair have a “shared vision of a trans-Tasman single economic market”.
Recommended for you
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
