US regulators move to impose new levy on big banks

US-banks/bank-levy/JPMorgan/

| By Charbel Kadib |

A new levy on large US banks has been proposed by regulators, set to deliver a two-year blow to earnings.

AUTHOR

Charbel Kadib

Charbel is an experienced financial services journalist, previously serving as news editor of The Adviser and Mortgage Business. Prior to joining Money Management, he also covered defence and national security developments as news editor of Defence Connect, Cyber Security Connect, and Space Connect. Charbel graduated from the University of Notre Dame with a double major in politics and journalism.

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ClearBridge forecasts 75% likelihood of Q3 US recession

clearbridge/recession/

| By Jasmine Siljic |

Funds management

The fund management firm’s proprietary risk dashboard has predicted a 75 per cent probability of a recession in the US.

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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Jones condemns ‘unacceptable’ AustralianSuper breach

| By Laura Dew |

Superannuation

Minister for financial services, Stephen Jones, has reacted to the news of AustralianSuper’s refund for tens of thousands of members, stating the breach is “unacceptable”.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Property growth is dead for the next decade: Milford

milford/Milford-Asset-Management/housing/Relative-Return/

| By James Mitchell |

Funds management

A leading fund manager says the structural deflation that made Australians real estate millionaires is over and investors should get ready for a decade of little to no capital growth in housing.

AUTHOR

James Mitchell

James Mitchell is a senior financial services reporter with over ten years experience. He has covered the Murray Inquiry, the Hayne royal commission and the evolution of Australia's financial intermediary sectors since 2011, with a focus on banking, superannuation, mortgages and wealth management.

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Adviser number see first quarterly rise since 2018

Adviser-Ratings/licensees/adviser-numbers/

| By Laura Dew |

Financial planning

Adviser numbers saw a quarterly rise for the first time in five years, according to the latest Musical Chairs report from Adviser Ratings.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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What are millionaire stockholders’ top investments?

selfwealth/SMSFs/australian-equities/

| By Rhea Nath |

Funds management

New data has explored the most popular holdings of over 1,000 millionaire investors on the Selfwealth platform, with almost a third being held in self-managed superannuation funds.

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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Over 17,000 AFCA complaints received during the pandemic

AFCA/covid-19/complaints/

| By Jasmine Siljic |

Financial planning

Since 11 March 2020, the financial services ombudsman has registered over 17,000 COVID-related complaints relating to banking, insurance and other financial services.

AUTHOR

Jasmine Siljic

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Longevity in advice: The three levers of sustainable revenue growth

financial-advice/revenue/practifi/

| By Industry |

Expert Analysis

Sustainable cashflow is the apex for financial advice firms today and growth can be a bitter pill to swallow amid growing compliance and administration costs, writes Umesh Banga.

AUTHOR

AusSuper issues $70m refund to around 100,000 members

AustralianSuper/

| By Laura Dew |

Superannuation

Around 100,000 AustralianSuper members could receive refunds as the fund sets aside $70 million after a processing failure regarding multiple member accounts.

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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AMP loses over 150 advisers in a year

Wealth-Data/AFSLs/insignia-financial/amp/

| By Jasmine Siljic |

Financial planning

Whilst micro-AFSLs’ numbers continue to grow, larger licensees including AMP and Insignia Financial are struggling to hold down their advisers.

AUTHOR

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US regulators move to impose new levy on big banks

AUTHOR

Charbel Kadib

Charbel 's social profiles:

ClearBridge forecasts 75% likelihood of Q3 US recession

AUTHOR

Jasmine Siljic

Jasmine 's social profiles:

Jones condemns ‘unacceptable’ AustralianSuper breach

AUTHOR

Laura Dew

Laura 's social profiles:

Property growth is dead for the next decade: Milford

AUTHOR

James Mitchell

James 's social profiles:

Adviser number see first quarterly rise since 2018

AUTHOR

Laura Dew

Laura 's social profiles:

What are millionaire stockholders’ top investments?

AUTHOR

Rhea Nath

Rhea 's social profiles:

Over 17,000 AFCA complaints received during the pandemic

AUTHOR

Jasmine Siljic

Jasmine 's social profiles:

Longevity in advice: The three levers of sustainable revenue growth

AUTHOR

AusSuper issues $70m refund to around 100,000 members

AUTHOR

Laura Dew

Laura 's social profiles:

AMP loses over 150 advisers in a year

AUTHOR

Jasmine Siljic

Jasmine 's social profiles:

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